CNBC’s Senior Correspondent Scott Cohn Revealed America’s Top 5 States for Business Today on CNBC & CNBC.com
ENGLEWOOD CLIFFS, N.J., July 13, 2010— CNBC, First in Business Worldwide, today revealed the results of its fourth annual list of America’s Top States for Business with Texas reclaiming the top spot from last year’s winner, Virginia.
CNBC Senior Correspondent Scott Cohn reported today live from Austin, Texas and counted down the top five states
throughout CNBC’s Business Day programming and on CNBC.com. Coverage of America’s Top States for Business will continue on-air and online through Friday, July 16th.
"This is our fourth year for this study, and never before has it been more important for states to attract business and jobs,” said Cohn, “We found that even the Top States face challenges with their budgets and with job creation. The difference is that they have the strength to ride out the tough times."
CNBC.com has an in depth look at how Texas reclaimed the top spot including a complete economic snapshot of the state’s jobless rate, housing, budget deficit, employment data and corporate tax rates. The complete rankings for all 50 states are available on the site, topstates.cnbc.com. CNBC.com also has exclusive lists tied to this special editorial report including "Top States for Tech," "Best Quality of Life," "Friendliest States for Business" and "Best Cost of Living." Throughout the week, users can also vote for the state that they think should be the top.’
Cohn continues, "Texas received the highest overall score in the history of our study, 1,508 out of 2,500 possible points. It is especially helpful to a state in times like these to have a Texas-sized economy: big, strong and diverse."
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, Quality of Life, Economy, Transportation & Infrastructure, Technology and Innovation, Education, Business Friendliness, Access to Capital and Cost of Living.
America’s Top 5 States for Business:
Texas (Highest Rank – #1 in Economy and #1 in Transportation & Infrastructure; Lowest Rank - #30 in Cost of Doing Business and #30 in Education)
Virginia (Highest Rank – # 2 in Business Friendliness; Lowest Rank - #27 in Cost of Living)
Colorado (Highest Rank – #2 in Quality of Life; Lowest Rank - #36 in Transportation & Infrastructure)
North Carolina (Highest Rank – #3 in Workforce; Lowest Rank - #37 in Economy)
Massachusetts (Highest Rank – #1 in Education; #40 in Cost of Living)
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