Arizona came in at no. 23 for Forbes‘ annual Best States for Business, down one spot from last year.
Arizona scored major points not so much for its present state, but for how things are looking down the road.
Arizona got high rankings when it came to population forecasts: the state is slated to have the third-fastest population growth in the country by 2019.
Among its higher placings were a No. 1 ranking for its five-year projected job growth, No. 7 for growth prospects, and No. 15 in labor supply. But Arizona’s worse rankings came with a No. 49 for its five-year income growth and No. 40 for quality of life.
The state came ahead of Montana and behind Idaho. Utah was ranked as the best state, and West Virginia as the worst.
Forbes ranked each state based on six criteria:
- Business costs
- Labor supply
- Regulatory environment
- Economic climate
- Growth prospects
- Quality of life
You can see Arizona’s full report here.