Minnesota Ranked Third on Top States for Business List
Minnesota is the third best state for business, according to CNBC’s annual “America’s Top States for Business” rankings.
The North Star State got high marks for education and quality of life, ranking second overall in each. However, it was also dinged for a relatively expensive cost of living and having the third-highest individual tax rate in the nation—9.85 percent.
“The credit for our state's continued economic success belongs to the people of Minnesota. I thank the hardworking Minnesotans and business owners who have made Minnesota home to their families, innovative companies and a great quality of life,” Gov. Mark Dayton said in a statement. “By continuing to support excellent educations and a world-class workforce, we can create even better opportunities for Minnesota businesses and families.”
The rankings are determined by 66 metrics, according to CNBC. These metrics fall into one of 10 categories: workforce, infrastructure, cost of doing business, economy, quality of life, technology and innovation, education, business friendliness, access to capital and cost of living.
Minnesota has consistently ranked highly on the list. Last year, it ranked fourth. It was first place in 2015, sixth in 2014 and 15th in 2013. Gov. Mark Dayton has called Minnesota a “high value” state in the past.
In 2017, North Carolina came in fifth place, Texas came in fourth, and Georgia in second. Washington took the top spot.
More info on the rankings can be viewed here.