Forbes List of Best States for Business in the US

Every year, Forbes puts out a list that shows the best states in the US for business. This year, Maryland ranked number 18, down two spots from 2012. Maryland ranks ahead of Oregon, which was 19th, and just behind Kansas, with was 17th.

As Forbes explained,  “Our study looks at six important factors for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life.”

For those interested in knowing the number one spot for businesses – Virginia had the honors this year. They ranked number one on the list from 2006 to 2009 and then slipped to number 2 for 2010-2012. They’ve regained their number one ranking again this year.

North Dakota took the second spot as a result of the Bakken oil shale fields and Utah came in third.

As Forbes explained, “The biggest gainer this year is Minnesota, which jumped 12 spots to No. 8 on the strength of an improved economic outlook…Minnesota has the second highest percentage of adults with a high school degree at 92.5%. With its good schools, low poverty rate and healthy population, the state also scores well on quality of life measurements.

Wyoming had the biggest fall, down eight places to No. 23. The nation’s least populous state ranks sixth best for business costs, but the economy has slowed and is expected to expand at just a 1.5% annual clip through 2017, worst in the U.S.”