Colorado Places Fourth in Forbes List of Best States for Business

Posted by TheHomeCart .com on Tuesday, October 26th, 2010 at 7:51am.

According to Forbes’s latest list, Colorado is once again the fourth best state for business.  Although the state landed a number six position in 2008, this marks the second year in a row that Colorado was placed in the number four position.

A number of factors are taken into consideration when developing the Forbes annual list of the best states for business. These factors include:

    * Business costs (including labor, taxes and energy)
    * Labor supply
    * Regulatory environment
    * Economic climate
    * Growth prospects
    * Quality of life

When it comes to the category of labor supply, Colorado came in the number one position. In terms o f growth prospects and economic climate, the state was ranked as sixth in both categories, while the state’s quality of life ranking came in at number nine. The state didn’t fair quite so well in the regulatory environment category, however, as it came in at number 15.  Furthermore, the state came in at below the median in terms of business cost, a category in which the state ranked at 33rd.

While all of these factors are taken into consideration when determining the final ranking, business climate is the one that is weighed the most heavily.

“Even in this tough economy, Colorado has remained aggressive, disciplined and focused when it comes to supporting businesses and encouraging economic growth,” said Colorado Governor Bill Ritter in a statement. “Today’s ranking by Forbes shows that our strategies and investments in emerging and innovative industries like clean energy, healthcare, aerospace, biosciences and technology are working. We still have many challenges ahead, but we are indeed moving forward.”

The top ten states included on the list, in order, were:

    * Utah
    * Virginia
    * North Carolina
    * Colorado
    * Washington State
    * Oregon
    * Texas
    * Georgia
    * Nebraska
    * Kansas

Rounding out the bottom five were Hawaii, Michigan, Mississippi, Rhode Island and, in last Place, Maine.

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