by Kritika Kulshrestha, Houston Business Journal – June 25, 2014
Texas ranks No. 2 in CNBC’s America’s Top States for Business, CNBC.com said Tuesday.
Texas claimed the top spot in 2008, 2010 and 2012. In 2014, it secured 1,641 points out of a possible 2,500—posting a larger score than last year. Texas ranked No. 1 in economy and infrastructure and No. 2 in technology and innovation both. It ranked No. 5 in access to capital.
North Carolina, Nebraska and Utah ranked No. 5, No. 4 and No. 3, respectively, and Georgia was named CNBC’s top state for business in the U.S.
The Lone Star State has never finished below second place since the study began in 2007, according to CNBC, and it took the top spot on the 2012, 2010 and 2008 lists. Last year, South Dakota ranked No. 1, marking the first year that the top spot was held by a state other than Texas or Virginia, CNBC said at the time.
50 U.S. states were scored based on 56 metrics of competitiveness using feedback from business groups, companies, economic development experts and the states themselves. Each state received points based on their rankings in each metric and then those metrics were divided into 10 categories including cost of doing business, economy, infrastructure, business friendliness and access to capital. Detailed rankings can be viewed here.
In May, the Lone Star State saw its largest year-over-year job growth in nearly 17 years, according to the Texas Workforce Commission. It added 383,100 seasonally adjusted nonfarm jobs over the past 12 months, and the annual growth rate climbed to 3.4 percent in May.
People can follow the complete countdown to CNBC’s announcement of the top U.S. state for business at the hashtag: #TopStates.
Read the original article here.