Colorado ranked sixth in a comparison of the best and worse state economies.

Colorado ranked among the top 20 states for economic activity, economic health and potential for innovation.

WalletHub compiled the ranking based on 28 indicators of economic performance and strength, including growth in gross domestic product, business startup activity, share of jobs in high-tech sectors and unemployment rates.

“A strong state economy doesn’t guarantee success for the state’s residents, but it certainly makes financial success more attainable,” said Cassandra Happe, an analyst with WalletHub, a personal finance website.

“Factors like a low unemployment rate and high average income help residents purchase property, pay down debt and save for the future,” Happe said. “The best state economies also encourage growth by being friendly to new businesses and investing in new technology that will help the state deal with future challenges and become more efficient.”

Colorado ranked sixth overall in the analysis with a score of 58.89 out of a possible 100. The state ranked sixth for potential for innovation, ninth for economic activity and 13th for economic health.

Colorado ranked fifth for annual median household income and business startup activity, seventh for the proportion of jobs in high-tech industries, 11th for change in nonfarm payrolls, 17th for change in gross domestic product and 24th for unemployment rate.

Washington ranked first in the comparison with a score of 71.1. The state ranked first for economic activity and second for potential for innovation. Washington has the second-highest share of jobs in high-tech industries and the second-highest share of science, technology, engineering and math professionals.

Utah ranked second overall and first for economic health. Massachusetts came in third, followed by Texas and California. Florida, North Carolina, the District of Columbia and Arizona also made the top 10.

Mississippi finished last in the analysis, followed by Hawaii, West Virginia, Arkansas and Louisiana. Kentucky, Rhode Island, Iowa, Maine and Ohio rounded out the bottom 10.

For more information about the analysis, visit https://wallethub.com/edu/states-with-the-best-economies/21697.