The Top 25 Best States For Business in the United States 2014. Who’s No. 1?

Utah reclaimed the top spot on the Forbes “Best States For Business In The United States 2014 List” after dropping to 3rd place last year, with North Dakota second and North Carolina third. Utah was ranked no. 1 in 2010 and 2012. The publication noted that its gross state product – or total economic output – last year was $141 billion.

Broken down by category, Utah ranks No. 4 among the states for labor supply, No. 10 for growth prospects, No. 5 for Business Costs Rank, No. 6 for economic climate, No. 16 for quality of life, and No. 9 for regulatory environment.

The worst states were Mississippi ranked 50th, Maine ranked No. 49, West Virginia ranked No. 48, New Mexico ranked No. 47, and Rhode Island ranked 46th.

Magazine analyzed 36 data points in 6 main areas: business costs, regulatory environment, labor supply, quality of life, growth prospects, and economic climate. Business costs, which include labor, energy and taxes, are weighted the most heavily.

Top 25 Best States For Business In The United States:

1. Utah
Business Costs Rank: 5 | Labor Supply Rank: 4 | Regulatory Environment Rank: 9
Economic Climate Rank: 6 | Growth Prospects Rank: 10 | Quality of Life Rank: 16 | Population: 2,923,000

2. North Dakota
Business Costs Rank: 9 | Labor Supply Rank: 9 | Regulatory Environment Rank: 18
Economic Climate Rank: 4 | Growth Prospects Rank: 2 | Quality of Life Rank: 24 | Population: 733,200

3. North Carolina
Business Costs Rank: 4 | Labor Supply Rank: 7 | Regulatory Environment Rank: 2
Economic Climate Rank: 24 | Growth Prospects Rank: 9 | Quality of Life Rank: 31 | Population: 9,901,400

4. Virginia
Business Costs Rank: 24 | Labor Supply Rank: 2 | Regulatory Environment Rank: 1
Economic Climate Rank: 12 | Growth Prospects Rank: 33 | Quality of Life Rank: 5 | Population: 8,292,700

5. Colorado
Business Costs Rank: 35 | Labor Supply Rank: 1 | Regulatory Environment Rank: 13
Economic Climate Rank: 8 | Growth Prospects Rank: 4 | Quality of Life Rank: 9 | Population: 5,307,800

6. Texas
Business Costs Rank: 13 | Labor Supply Rank: 11 | Regulatory Environment Rank: 16
Economic Climate Rank: 1 | Growth Prospects Rank: 1 | Quality of Life Rank: 33 | Population: 26,654,300

7. Nebraska
Business Costs Rank: 8 | Labor Supply Rank: 22 | Regulatory Environment Rank: 9
Economic Climate Rank: 2 | Growth Prospects Rank: 46 | Quality of Life Rank: 14 | Population: 1,873,500

8. Washington
Business Costs Rank: 20 | Labor Supply Rank: 6 | Regulatory Environment Rank: 30
Economic Climate Rank: 17 | Growth Prospects Rank: 6 | Quality of Life Rank: 29 | Population: 7,002,500

9. Minnesota
Business Costs Rank: 33 | Labor Supply Rank: 18 | Regulatory Environment Rank: 22
Economic Climate Rank: 7 | Growth Prospects Rank: 23 | Quality of Life Rank: 2 | Population: 5,439,200

10. Oklahoma
Business Costs Rank: 7 | Labor Supply Rank: 31 | Regulatory Environment Rank: 14
Economic Climate Rank: 5 | Growth Prospects Rank: 15 | Quality of Life Rank: 41 | Population: 3,865,900

11. Delaware
Business Costs Rank: 49 | Labor Supply Rank: 8 | Regulatory Environment Rank: 26
Economic Climate Rank: 31 | Growth Prospects Rank: 27 | Quality of Life Rank: 316 | Population: 930,000

12. Iowa
Business Costs Rank: 11 | Labor Supply Rank: 3 | Regulatory Environment Rank: 33
Economic Climate Rank: 9 | Growth Prospects Rank: 42 | Quality of Life Rank: 12 | Population: 3,099,200

13. Massachusetts
Business Costs Rank: 4 | Labor Supply Rank: 7 | Regulatory Environment Rank: 2
Economic Climate Rank: 11 | Growth Prospects Rank: 16 | Quality of Life Rank: 1 | Population: 6,719,000

14. South Dakota
Business Costs Rank: 1 | Labor Supply Rank: 16 | Regulatory Environment Rank: 31
Economic Climate Rank: 10 | Growth Prospects Rank: 45 | Quality of Life Rank: 30 | Population: 848,500

15. Indiana
Business Costs Rank: 10 | Labor Supply Rank: 45 | Regulatory Environment Rank: 3
Economic Climate Rank: 28 | Growth Prospects Rank: 31 | Quality of Life Rank: 15 | Population: 6,585,000

16. Georgia
Business Costs Rank: 27 | Labor Supply Rank: 21 | Regulatory Environment Rank: 4
Economic Climate Rank: 38 | Growth Prospects Rank: 13 | Quality of Life Rank: 38 | Population: 10,019,900

17. New York
Business Costs Rank: 45 | Labor Supply Rank: 30 | Regulatory Environment Rank: 20
Economic Climate Rank: 3 | Growth Prospects Rank: 17 | Quality of Life Rank: 10 | Population: 19,688,400

18. Oregon
Business Costs Rank: 12 | Labor Supply Rank: 12 | Regulatory Environment Rank: 39
Economic Climate Rank: 32 | Growth Prospects Rank: 8 | Quality of Life Rank: 35 | Population: 3,946,100

19. Florida
Business Costs Rank: 38 | Labor Supply Rank: 10 | Regulatory Environment Rank: 15
Economic Climate Rank: 36 | Growth Prospects Rank: 7 | Quality of Life Rank: 32 | Population: 19,708,200

20. Maryland
Business Costs Rank: 41 | Labor Supply Rank: 5 | Regulatory Environment Rank: 36
Economic Climate Rank: 16 | Growth Prospects Rank: 32 | Quality of Life Rank: 8 | Population: 5,947,300

21. Tennessee
Business Costs Rank: 19 | Labor Supply Rank: 32 | Regulatory Environment Rank: 7
Economic Climate Rank: 23 | Growth Prospects Rank: 26 | Quality of Life Rank: 42 | Population: 6,521,500

22. Arizona
Business Costs Rank: 25 | Labor Supply Rank: 17 | Regulatory Environment Rank: 17
Economic Climate Rank: 47 | Growth Prospects Rank: 5 | Quality of Life Rank: 40 | Population: 6,669,200

23. South Carolina
Business Costs Rank: 28 | Labor Supply Rank: 23 | Regulatory Environment Rank: 8
Economic Climate Rank: 37 | Growth Prospects Rank: 11 | Quality of Life Rank: 43 | Population: 4,798,100

24. Montana
Business Costs Rank: 21 | Labor Supply Rank: 14 | Regulatory Environment Rank: 42
Economic Climate Rank: 13 | Growth Prospects Rank: 19 | Quality of Life Rank: 37 | Population: 1,019,700

25. Kansas
Business Costs Rank: 31 | Labor Supply Rank: 26 | Regulatory Environment Rank: 12
Economic Climate Rank: 21 | Growth Prospects Rank: 39 | Quality of Life Rank: 28 | Population: 2,898,700

——
Follow me on Twitter & Facebook.