Forbes: Colorado is America's 4th-best state for business! Colorado ranks No. 4 on Forbes.com's latest ranking of the best states for business, up two notches from the 2008 list.
The rankings are based on six criteria: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Business costs -- including labor, energy and taxes -- were weighted the most heavily.
Forbes rates Colorado No. 1 in the nation on labor supply, No. 2 on growth prospects, and No. 5 on economic climate.
The state's only below-the-median ranking among the 50 states is for business costs (33rd). Colorado ranks No. 17 for regulatory environment and No. 15 for quality of life.
"Colorado is honored to be recognized by Forbes.com as the fourth best state to do business," Gov. Bill Ritter said in a statement Thursday in response to the ranking. "We have one of the nation's most highly skilled workforces and tremendous job growth opportunities. Combine that with the low cost of doing business and our excellent quality of life, and there's no question Colorado will emerge from this downturn quicker, stronger and healthier."
The top 10 states on Forbes' best-for-business list:
1. Virginia. 2. Washington state. 3. Utah. 4. Colorado. 5. North Carolina. 6. Georgia. 7. North Dakota. 8. Texas. 9. Nebraska. 10. Oregon.
In last place: Rhodes Island, which also finished last for its regulatory environment. Michigan is No. 49, Wisconsin No. 48, Vermont No. 47, West Virginia No. 46 and New Jersey No. 45.
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