We scored all 50 states on 51 measures of competitiveness developed with input from business groups including the National Association of Manufacturers and the Council on Competitiveness , as well as the states themselves. States received points based on their rankings in each metric.

Then, we separated those metrics into 10 broad categories, weighting the categories based on how frequently they are cited in state economic development marketing materials, for a total of 2,500 points. That way, our study ranks the states based on the criteria they use to sell themselves.

Cost of Doing Business (350 Points)

Cost is a major consideration when a company chooses a state. We looked at the tax burden, including individual income and property taxes, as well as business taxes, particularly as they apply to new investments. Utility costs can add up to a huge expense for business, and they vary widely by state. We also looked at the cost of wages, as well as rental costs for office and industrial space (rental cost information furnished by CoStar Group ).

Workforce (350 Points)

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