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CNBC ranks Colorado seventh best for business

Published: July 10, 2013, 3:52 pm, by Wayne Heilman

Cable television network CNBC on Wednesday ranked Colorado seventh on its “Top States for Business” annual list of competitiveness among states in attracting businesses, up one place from an eighth-place ranking last year.

Colorado got high marks for its economy, technology and innovation and work force, all ranking in the top 10 states, but was among the 20 lowest states in the cost of doing business and the cost of living. The cost of doing business and cost of living rankings both improved from 2012, while rankings in workforce, quality of life, business friendliness and access to capital all eroded. Colorado ranked fifth in 2011 and 2008, third in 2009 and 2010 and 12th in 2007, the first year the network compiled the rankings.

South Dakota headed the 2013 list, finishing first in the cost of doing business and second in business friendliness, but 48th in technology and innovation. Texas ranked second, followed by North Dakota and Nebraska with Utah and Virginia tying for fifth just ahead of Colorado. Hawaii ranked at the bottom of the list with Rhode Island, West Virginia, California and Nevada ranking just ahead of the Aloha state.

The rankings were based on 51 measures of competitiveness developed with input from business groups that included the National Association of Manufacturers and the Council of Competitiveness. The measures were grouped into 10 categories that included cost of doing business, economy, infrastructure, work force, quality of life, technology and innovation, business friendliness, education, cost of living and access to capital. For more on the rankings, go to http://www.cnbc.com/id/100727942?__source=vty|topstates|&par=vty.

CNBC’s ranking is the latest of several that gave Colorado and Colorado Springs high marks in a variety of areas:

  • Colorado earned an “A” in April from small business owners in the Thumbtack.com Small Business Survey, up from a B+ last year. The state earned an “A” for the quality and availability of its training and networking programs and ranked in the top 10 for online business resources. Colorado Springs ranked fourth in the nation and received an “A+” rating for its small business friendliness, getting the highest grade for ease of starting a small business, hiring new employees, regulatory burden, licensing and zoning.
  • Colorado ranked ninth best in the nation for banking by MSN Money, based on the state having no bank failures last year and above-average scores among its banks for customer satisfaction.
  • Colorado ranked as the nation’s second-most bicycle-friendly state by the League of American Bicyclists.
  • Colorado Springs ranked as the 10th Least Obese metropolitan area by the Gallup-Healthways Well-Being Index.