Colorado continues to rank among the top 10 states for business in the latest results of an annual analysis that takes into account more than 60 measures of competitiveness.
Colorado moved up a spot to fifth overall in the 12th annual list of America’s Top States for Business complied for the CNBC cable television network.
To determine the ranking, each state was scored on a total of 64 measures of competitiveness in 10 categories. The categories then were weighted based on how frequently they were used as selling points in economic development marketing.
Colorado scored 1,564 points out of a possible 2,500 overall. The state ranked fifth for its work force, seventh for technology and innovation, eighth for economy and ninth for quality of life. Colorado ranked 11th for both education and access to capital and 17th for business friendliness. The state fared less well at 29th for infrastructure, 34th for cost of living and 37th for cost of doing business.
Texas was named America’s top state for business. Texas scored 1,651 points with No. 1 rankings for infrastructure and economy.
“With its robust economy, solid infrastructure and world class work force, Texas is always tough to beat. It is even more so when the energy industry is healthy, as it is now,” said Scott Cohn, a CNBC special correspondent reporting on the analysis.
Washington came in second overall with a No. 2 ranking in its work force. Utah placed third with a No. 2 ranking for economy, followed by Virginia in fourth. Minnesota, Georgia, Massachusetts, North Carolina and Florida rounded out the top 10.
Alaska was deemed the worst state for business in the 2018 analysis with the lowest ranking for economy. Mississippi placed 49th, followed by West Virginia, Hawaii and Rhode Island. Maine, Louisiana, New Mexico, Kentucky, Alabama and Arkansas rounded out the bottom 10