CNBC: South Dakota One of 20 Best States for Business

When it comes to doing business in South Dakota there are positives and negatives to consider. A stable economy and plentiful workforce are pluses. Extreme weather and isolated geography are minuses.

But overall, the Mount Rushmore State is still a solid choice for business, according to new rankings by CNBC.

The network graded each state on ten different business factors and slotted South Dakota at number 20 overall, tied with Arizona.

South Dakota fared quite well in business friendliness, meaning fewer regulations and less litigation (2nd overall) and cost of doing business (9th in the nation). The state also posted respectable numbers in quality of life and education (both 16th overall).

On other other end of the spectrum, South Dakota took its lumps on technology and innovation (41st overall) and education (45th).

The state was also in the bottom half in workforce (30th), infrastructure (38th), economy (27th), and cost of living (27th).

South Dakota fared much better than North Dakota, which tumbled ten spots, to 29th, thanks to rising oil prices.

New York showed the biggest improvement, jumping 11 spots to 27th overall.

Top Five States For Business

1. Texas

2. Washington

3. Utah

4. Virginia

5. Colorado

Bottom Five States For Business

45 (tie). Maine, Rhode Island