In CNBC’s recent study, Top States For Business 2010, Texas came out on top for 2010. Texas posted the highest total points in the history of the study, allowing it to reclaim the top spot over number two Virginia, which was number one last year. The points are based on “40 different metrics in ten key categories” and the categories are weighted as follows according to the CNBC study:
* Cost of Doing Business (450 points)
* Workforce (350 points)
* Quality of Life (350 points)
* Economy (314 points)
* Transportation & Infrastructure (300 points)
* Technology & Innovation (250 points)
* Education (175 points)
* Business Friendliness (175 points)
* Access to Capital (50 points)
* Cost of Living (25 points)
After the points were tallied, Texas ranked number one followed by Virginia, Colorado, North Carolina, and Massachusetts at number five. Rounding out the bottom five were West Virginia, Nevada, Hawaii, Rhode Island, and Alaska at number 50.
According to government figures, the Texas economy is ranked 15th in the world, bigger than many countries. It is also home to 64 companies in the Fortune 500, more than any other state. Big business helped Texas’ economy rise to the top. That along with many other factors including a more stable real estate market has helped Texas appeal to big businesses.
Despite the fact that the state still has a multi-billion dollar deficit to wrestle, the business economy is healthy and the Real Estate Center at Texas A&M recently reported that Texas has seen positive employment growth in many parts of the state along with job growth in many industries in the state.
For more information on the study, visit: http://www.cnbc.com/id/37642856
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