CNBC used data from the U.S. Chamber Institute for Legal Reform’s (ILR) 2017 Lawsuit Climate Survey: Ranking the States when putting together it’s annual “Top States for Business in America” report this year.
Specifically, CNBC's reporting on the survey found that legal climates, as ranked by ILR’s 2017 survey, may be holding back some states from achieving even more success. New York State, for example, gained ground in every category except“business friendliness,” where it dropped three spots “because of a tough legal climate.” CNBC also cautions Amazon in an article discussing the finalists for their second headquarters. Atlanta, Georgia, is in the running, despite the state’s “poor marks for its handling of tort cases.”
It should come as no surprise that ILR’s Lawsuit Climate Survey is being taken seriously by those ranking the best states for business. An all-time high of 85 percent of respondents to the 2017 Lawsuit Climate Survey said a state’s litigation environment is likely to impact their company’s decisions about where to locate or expand.
The Survey should signal to elected officials that their state’s legal climate is an important factor for businesses when deciding where to move next.