Forbes has ranked the state of North Dakota second for business. The study credits the Bakken Shale for North Dakota's promising economic metrics. When looking at the economy alone, North Dakota tops the list. The state can boast about the following annual averages over the past five years: 3.7% job growth, 3.8% income growth, 7.9% gross state product growth, and 3.6% unemployment (just 2.7% today).
“Forbes says “Credit the development of the Bakken oil shale fields in the western part of the state for much of that growth...”
The study looks at six important factors:
- Costs
- Labor supply
- Regulatory environments
- Current economic climate
- Growth prospects
- Quality of life
My guess is "Labor Supply" is the only thing keeping North Dakota from being #1!
See the top 25 states for business at forbes.com