ENGLEWOOD CLIFFS, N.J., July 9, 2008-CNBC, First in Business Worldwide, today revealed the results of its second annual study of America's Top States for Business with Texas topping the list.
CNBC Senior Correspondent Scott Cohn broadcasted live today from Fort Worth, Texas and counted down the top five states throughout CNBC's Business Day programming beginning with CNBC's flagship morning show "Squawk Box" (6AM-9AM ET).
Texas takes over the number one spot from last year's Top State, Virginia. "Clearly, Texas benefits from the current strength in the energy industry," Cohn said. "But Texas is putting together a truly diverse business climate, with high scores in areas like technology and transportation."
To determine the rankings for America's Top States for Business, each state was scored – using publicly available data – on 40 different measures of competitiveness. States received points based on their rankings in each metric, which were then separated into ten broad categories: Cost of Doing Business, Workforce, Economy, Education, Quality of Life, Technology and Innovation, Transportation, Business Friendliness and Access to Capital.
America's Top 5 States for Business:
- Texas (Highest Rank - #1 in Transportation; Lowest Rank - #30 in Education)
- Virginia (Highest Rank - #2 in Business Friendliness; Lowest Rank - #28 in Quality of Life)
- Utah (Highest Rank - #3 in Economy; Lowest Rank - #46 in Education)
- Idaho (Highest Rank - #5 in Cost of Doing Business and Economy; Lowest Rank - #48 in Education)
- Colorado (Highest Rank - #5 in Business Friendliness; Lowest Rank - #35 in Education and Transportation)
Why do some states attract more business than others? How do they do it? Find out how your state stacked up and tell us why your state is good for business. The complete study, including scores and rankings for each of the 50 states is available at topstatesforbusiness.cnbc.com.
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