Colorado is the fifth-best state for business, according to a new ranking from CNBC.
The state scored 1,564 points out of a possible 2,500 points in CNBC’s list of America’s Top States for Business.
While owning a building seems like something every successful business should do, that’s not always the case. For many companies, it makes more sense to continue leasing space, freeing up time and capital that can be better utilized in other ways.
There were 10 categories on which states were scored: cost of doing business, workforce, quality of life, economy, infrastructure, technology & innovation, education, business friendliness, access to capital and cost of living.
In addition to ranking No. 5 overall, Colorado was in the top 10 for categories such as workforce, quality of life, economy, and technology and innovation.
The top states were Texas, Washington, Utah, Virginia and Colorado. Rounding out the top 10 were Minnesota, Georgia, Massachusetts, North Carolina and Florida.
In 2017, Colorado ranked No. 6.