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Forum staff reports, Published September 26 2013

ND ranks as second-best state for business

BISMARCK – North Dakota was ranked second in Forbes magazine’s 2013 report of best states for business and careers.

It’s one spot up from last year.

Forbes’ annual ranking measures six categories for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Forbes factors in 35 points of data to determine the rank in the six main areas.

North Dakota ranked second best among all states in the category of economic climate and third in business costs. Virginia ranked first in the report’s overall ranking.

According to the report:

“North Dakota has boasted the country’s most robust economy over the past five years. It is tops for job growth (3.7 percent annually), income growth (3.8 percent), gross state product growth (7.9 percent) and unemployment (3.6 percent average). With the nation’s third best economic growth forecast over the next five years, its outlook looks strong too.”