FROM a London School of Economics and Political Science paper by Soledad Artiz Prillaman and Kenneth J Meier (my emphasis):
Studying the 50 U.S. states over the past four decades, we find that tax incentives to businesses prove unhelpful in stimulating economic growth and may even be harmful to state economies. Over the past 30 years, state policy has had little impact in determining state economic growth and that state politicians have little control over income growth and employment.
. . .
Instead, the education level of the workforce, the price of land and energy, the ideology of the government, and the level of public services all enter into the location decisions of businesses.