Texas Is Top State for Business
CNBC released its fourth annual "Top States for Business" list yesterday, and Texas grabbed the top spot. According to the study, Texas beat out Virginia (last year's winner) for the number one position.
CNBC relied on ten categories each with myriad sub-variables to evaluate states. These included:
• Cost of Doing Business
• Workforce
• Quality of Life
• Economy
• Transportation & Infrastructure
• Technology & Innovation
• Education Business Friendliness
• Access to Capital
• Cost of Living
Assigned to each category were varied point totals, with the highest scoring state winning. CNBC reported that Texas received the highest point total in the study’s history, 1508 out of 2500 points. Number two Virginia received 1477, while #24 New York received 1165, and #32 California got 1085 points.
Notably Texas was ranked number one in “Economy” (measured by basic indicators of economic health and growth, and the number of major corporations located in the state) and “Transportation & Infrastructure” (measured by the value of goods shipped by air, land and water; and availability of air travel in each state, and the quality of the roads).
Rounding out the rest of the top five were: Colorado #3, North Carolina #4, and Massachusetts at #5. Alaska ranked at the bottom with 652 points.
