QUIZ: Top States For Business

QUIZ: Top States For Business

Given the condition of the economy and the job market these days, states need to work harder than ever to attract new investment.

Companies have a lot to consider when picking a home for their plant or office and states have a lot of tools to sell themselves.

For four years now, CNBC's study "America's Top States For Business" has ranked all 50 states on this basis, using a wealth of criteria, from access to capital to business friendliness to transportation and infrastructure.

With the release of our fourth edition we wanted to test your knowledge on which states are good homes for business. Take our quiz and find out.

Posted 12 July 2010

Which state finished among the top ten in the overall rankings of CNBC's "Top States For Business" survey in the past three years but failed to capture first place in any of the ten individual categories?

1. Georgia
2. Massachusetts
3. Virginia
4. None of the above

In 2009, Virginia took the number one spot in CNBC's "Top States For Business" rankings, yet it failed to win first place in any of the ten individual categories on which the distinction is based.

SOURCE: America's Top States for Business 2009 – Virginia | CNBC.com

Which of the following companies is not among the top three leading employers in more than one state?

1. General Motors
2. Tyson Foods
3. Verizon Communications
4. Wal-Mart Stores

General Motors is the leading employer in only one state, Michigan.

SOURCE: America's Top States for Business 2009 – Michigan | CNBC.com

According to a Ball State University report, which state has one of the best tax climates for manufacturing businesses?

1. Alaska
2. Arkansas
3. Missouri
4. Wyoming

Ball State University's Center for Business and Economic Research issues the Manufacturing and Logistics Report Card, which grades each state on aspects such as productivity, venture capital and tax rates. Missouri received an "A" grade for its tax rates, earning a place in the report's top five, along with Florida, Indiana, Montana and Utah. According to the report, theses states should see their manufacturing sectors recover from the recession in the next 18 to 24 months.

SOURCE: Study: Missouri Among Best States For Manufacturing Taxes | Springfield Business Journal Online

Which state did not win the "Quality of Life" category in CNBC's "Top States For Business" in the past three years?

1. California
2. Hawaii
3. New Hampshire
4. None of the above

California has had a hard time of it for the last few years, suffering both natural disasters and economic ones. The Golden State has also had a hard time catching a break in the "Quality of Life" category in CNBC's "Top States For Business." It has fared poorly for three years running, coming in 19th place in 2009.

SOURCE: America's Top States for Business 2009 – California | CNBC.com

Which of the following states is not in the bottom five of the "Top States For Business" survey?

1. Alaska
2. Colorado
3. Hawaii
4. Rhode Island

Several states won the dubious distinction of ranking in the survey's bottom five, but Colorado was not one of them. In fact, Colorado rose from its 2008 spot as the 5th best state for business to the number 3 spot.

SOURCE: America's Top States for Business 2009 – Colorado | CNBC.com

Which state has the greatest number of brackets for corporate tax rates?

1. Alaska
2. California
3. Massachusetts
4. New Jersey

Alaska has ten brackets for corporate tax rates. The lowest is $10,000, and the highest is $90,000. The state's corporate tax rate ranges from 1.0 percent to 9.4 percent. The state with the second-greatest number is Arkansas, with six brackets for corporate tax rates.

SOURCE: Range Of State Corporate Income Tax Rates | Federation of Tax Administrators

Which state was ranked the 2nd best for business in the "Top States For Business" survey?

1. Arizona
2. California
3. Nevada
4. Texas

Although the top honors in the survey went to Virginia, Texas gave it a run for its money and won a respectable second-place finish.

SOURCE: America's Top States for Business 2009 – Texas | CNBC.com

What Midwestern state was named one of the top ten most competitive for new facility development by "Site Selection" magazine in 2010?

1. Illinois
2. Kansas
3. Nebraska
4. Wisconsin

In the May 2010 issue of "Site Selection" magazine, Kansas was named one of the top ten most competitive states in terms of capital investment, development of new facilities and number of jobs created. This marks the second consecutive year that Kansas has been ranked in the magazine's top ten. According to Bill Thornton, Secretary of the Kansas Department of Commerce, "Our Top 10 finish in the Competitiveness Awards is just another example of how Kansas is one of the best states in the nation for business."

SOURCE: Kan. Among Top 10 In Competitiveness | Morningsun.net

Which state is not among the top ten every year in the "Cost of Living" category of CNBC's "Top States For Business"?

1. Arkansas
2. Kansas
3. Mississippi
4. Oklahoma

Mississippi hasn't fared well in most of the "Top States For Business" categories, but in 2008, the state squeaked into the top ten in the "Cost of Living" category. However, that sweet deal ended in 2009, when the state slipped into the number 11 slot.

SOURCE: America's Top States for Business 2009 – Mississippi | CNBC.com

Which state had the lowest unemployment rate in May 2010?

1. Kansas
2. Nebraska
3. North Dakota
4. Oklahoma

North Dakota had the lowest unemployment rate in May 2010 at 3.6 percent. The state's rate peaked at 4.4 percent in mid 2009 but has fallen every month since January. North Dakota's June 2010 unemployment figures are not yet available, as state data typically lags behind national data by one month.

SOURCE: Bureau of Labor Statistics | Local Area Unemployment Statistics

Your score:

• 7 to 10 correct
  You should consider a job in state government.
• 3 to 6 correct
  You should consider a job in a city agency.
• 0 to 2 correct
  You should consider collecting unemployment.