Wednesday, June 24, 2015

Minnesota is 2015's Top State for Business

Scott Cohn, CNBC

Leave it to the North Star State to chart a new course to competitiveness.

Minnesota is America's Top State for Business in 2015, reaching the pinnacle of success by way of a much different route than our eight previous winners.

Minnesota scores 1,584 out of a possible 2,500 points, ranking in the top half for all but two of our 10 categories of competitiveness. But what may be most instructive are the categories where Minnesota does not do well. Both involve cost. Indeed, the birthplace of Spam, Scotch Tape and the supercomputer marks a new first this year. Never since we began rating the states in 2007 has a high-tax, high-wage, union-friendly state made it to the top of our rankings. But Minnesota does so well in so many other areas—like education and quality of life—that its cost disadvantages fade away.

As always, we scored all 50 states in more than 60 metrics in 10 broad categories of competitiveness. You can read more about our methodology here.

This year's categories and point values are:
  • Workforce (400 points)
  • Cost of Doing Business (350 points)
  • Infrastructure (350 points)
  • Economy (340 points)
  • Quality of Life (325 points)
  • Technology & Innovation (250 points)
  • Education (200 points)
  • Business Friendliness (160 points)
  • Cost of Living (75 points)
  • Access to Capital (50 points)
(More here.)

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