Colorado ranks among the top five states for business in the latest results of an annual study that takes into account more than 60 measures of competitiveness.
Colorado finished fourth in the America’s Top States for Business ranking compiled for the CNBC cable television network. Colorado moved up four spots from last year to return to the top five for the first time since 2011.
Rankings were determined using publicly available data. States received points for their rankings for each metric. Categories were weighted based on how frequently each was used as a selling point in state economic development marketing materials, grading states on the criteria they use in selling themselves.
Colorado scored 1,515 out of a possible 2,500 points. Colorado ranked among the top 10 states in four categories: third for its economy, fifth for technology and innovation, eighth for access to capital and ninth for quality of life.
Colorado was praised for what was described as a concerted push for high-tech and “green” jobs that has helped create a dynamic economy with a strong level of new business formation.
Colorado ranked 14th for infrastructure and transportation, 16th for its work force and 18th for business friendliness. The state fared less well at 24th for education, 31st for cost of living and 36th for cost of doing business.
Minnesota won the title as America’s Top State for Business in part because of its second-place ranking for education. Texas came in second with the top ranking for infrastructure and transportation. Utah placed third with the best economy. Georgia finished fifth with the second-best infrastructure.
Hawaii ranked as the worst state for business in the 2015 ranking, although the state placed first for quality of life. West Virginia ranked 49th, followed by Rhode Island, Alaska and Louisiana.