Colorado a top spot for business

Cable channel CNBC has completed its annual ranking of the best states for business, and Colorado has moved up to the No. 7 spot.

Colorado was No. 8 last year.

CNBC looked at 51
measures of competitiveness to determine the rankings, and states received points based on each metric. Those metrics were then separated into 10 broad categories, including business friendliness, the cost of doing business and access to capital.

South Dakota was ranked first, followed by Texas, North Dakota and Nebraska. Utah and Virginia tied for the No. 5 spot.

South Dakota received a total of 1,639 points out of a possible 2,500 points to determine its first-place standing. Colorado’s total score was 1,535.

Colorado showed the greatest improvement since last year’s ranking in the strength of its economy. After being ranked No. 33 in 2012 in the economic category, Colorado moved up this year to No. 7.

Colorado was judged to be unchanged in a couple of categories — technology and innovation, and infrastructure and transportation — but lost ground in several others. The state’s ranking slipped from 2012 in the areas of business friendliness, quality of life and access to capital. Colorado did see a big improvement in its ranking for education.

L. Wayne Hicks is Social Media Engagement Officer / Digital Producer of the Denver Business Journal, writes for the “Cultural Attache” blog, and compiles the daily “DBJ Morning Call” email. Phone: 303-803-9221.

Posted in: Denver

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