GIGERICH: Happiness is factor in location choices

A recent article in The Wall Street Journal by Carl Bialik titled, “The Drag of Devising a State by State Mirth Meter,” explores the concept of measuring happiness and well-being across the country.

While the subject is not new, the studies surrounding it are receiving attention from economists, researchers and health care specialists as they attempt to put accurate measurements on a topic that has traditionally been viewed as vague and indefinable.

State-by-state comparisons ranking satisfaction levels are gaining traction in economic development circles. Louisiana ranks as the No. 1 place to find satisfied citizens. California comes in at 45, one notch above New Jersey.

While rankings do not drive site-selection decisions, they do play a role. Traditional criteria typically include work force, education and utility infrastructure, as well as a community’s and state’s overall business climate. Depending on the type of project, quality of life often ranks in the bottom half of the list and typically has a greater impact on businesses trying to attract certain types of employees.

For example, white-collar employers tend to rank quality of life high on the list, since they need to attract and retain top talent. Factors such as climate and cultural offerings take on even more importance in the latter stages of site selection when CEOs look at where their families and key employees are willing to move. More here.