CNBC ranking: Colorado sixth among top states for business

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 fell three spots, but still came in sixth overall in the 11th annual list of America’s Top States for Business complied for the CNBC cable television network.

Colorado fared well for its work force, technology and innovation and business friendliness. The state fared less well for its cost of living and doing business.

To determine the ranking, each state was scored on a total of 66 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 1,562 points overall. The state ranked fourth for its work force,  seventh for technology and innovation and tied for eighth for business friendliness. Colorado ranked 12th for both education and access to capital and 13th for its economy and tied for 14th for its quality of life.

Colorado fared less well at 28th for infrastructure, 32nd for cost of living and 38th for cost of doing business.

Washington was named America’s top state for business with top-10 rankings for its economy, technology and innovation, work force and quality of life. The Washington economy grew 3.7 percent in 2016, the largest proportion of any state and more than two times the national rate. Those high marks more than offset low rankings at 32nd for cost of living and 37th for cost of doing business.

Georgia came in second overall after ranking first for its economy, third for work force and fourth for infrastructure.

Minnesota placed third, followed by Texas and North Carolina. Virginia, Utah, Tennessee and Massachusetts rounded out the top 10.

West Virginia was deemed the worst state for business in the 2017 analysis, ranking in the bottom 10 in six categories. Hawaii came in 49th despite offering the best quality of life. Mississippi placed 48th, Alaska 47th and  Maine 46th. Rhode Island, Louisiana,  Oklahoma, New Mexico and Arkansas rounded out the bottom 10.