Michigan falls five spots in study of top states for business
Michigan fell five spots in CNBC's annual study of the top states for business, ranking in at No. 16.
The Great Lakes state previously ranked No. 11. In the specific areas reviewed for the study, Michigan received the following grades:
- Cost of doing business: A
- Cost of living: A-
- Technology and Innovation: B
- Access to capital: B-
- Workforce and economy: C
- Infrastructure, business friendliness and education: C+
- Life, health and inclusion: D+
CNBC scored all 50 states on 88 metrics in 10 categories of competitiveness. Each category is weighted on how frequently states use the caterogies in economic development marketing materials.
States can earn up to 2,500 points and the states with the most are America’s Top States for Business.
Michigan received 1,408 points.
The top five states for doing business in this year's study were: North Carolina, Washington, Virginia, Colorado and Texas.
Michigan also fell behind Tennessee (No. 6), Indiana (No. 14), Ohio (No. 15) and Georgia (No. 10), which have all recently received new auto industry investments. Michigan did rank above Kentucky, another state that recently received an