The BizFilings blog covering business tips and trends.
Texas Earns Top Spot for Business
Published on Jul 14, 2010
Read 'Texas Earns Top Spot for Business' at 'Time to Start Up,' the small business blog by BizFilings.
Earning the top spot in CNBC's Top States For Business 2010 is Texas. All 50 states were measured on 40 different metrics in 10 categories in the fourth annual study. Categories were developed three years ago with directives from business groups like the National Association of Manufacturers.
For the second time in three years, Texas was victorious over Virginia - which was last year's winner. Other placeholders in the Top 5 are: No. 3: Colorado; No. 4: North Carolina; and No. 5 Massachusetts.
For a cumulative total of 2,500 points, here are the categories and weightings:
Cost of Doing Business (450 points)
Workforce (350 points)
Quality of Life (350 points)
Economy (314 points)
Transportation & Infrastructure (300 points)
Technology and Innovation (250 points)
Education (175 points)
Business Friendliness (175 points)
Access to Capital (50 points)
Cost of Living (25 points)
CNBC cited using publicly available data on the metrics in each category to score and rank the states.
The Lone Star State has consistently ranked high for a number of reasons:
It is the home of 64 Fortune 500 companies - more than any other state
It has managed to dodge the worst of the real estate crisis