Texas once again came out tops in the 2012 CNBC “Top States for Doing Business” rankings. Texas and Virginia have been alternately sharing the top spot since CNBC first started compiling the rankings in 2007. This time, Utah moved up six spots into second place and pushed Virginia down to third spot.
Here’s the list of the top 10 states in the CNBC rankings - Texas; Utah; Virginia; North Carolina; North Dakota; Nebraska; South Dakota; Colorado; Georgia; and Wyoming.
“Claiming the spot as America’s Top State for Business 2012 reinforces the fact that the Lone Star State is the nation’s leader in fostering an economic climate that creates jobs, promotes innovation and opens the door to unlimited opportunity,” said Texas Gov. Rick Perry. “Our conservative fiscal policies, including low taxes, fair courts and predictable regulations, keep our state the top destination to live, work, grow a business and raise a family.”
Utah Gov. Gary R. Herbert issued the following statement – “This is no surprise to Utah, again confirming that reasonable regulation, low taxes, and an unparalleled workforce are the best components to promote economic growth. We achieve this growth by creating the best conditions for the free market to do what it does best.”
Virginia Gov. Bob McDonnell was away on a 4-day job creation mission to Ireland and Great Britain.
The overall CNBC rankings are based on scores each state earned in 51 different metrics, which were separated into broad categories weighted based on how frequently they are cited in state economic development marketing materials. The best state for each of these 10 individual categories is listed below.
Cost of Doing Business – Kentucky
Workforce – Georgia
Quality of Life – New Hampshire
Economy – Wyoming
Transportation & Infrastructure – Texas
Technology & Innovation – New York
Education – New York
Business Friendliness – South Dakota
Access to Capital – California
Cost of Living – Oklahoma