Texas named best state for business

AUSTIN (KXAN) - Texas is the No. 1 state when it comes to doing business, the cable network CNBC says.

"Texas is at the top of the nation in infrastructure and second best for technology and innovation and has the third cheapest cost of living," CNBC said in a news release. "However, Texas did have a few weak spots this year in quality of life, education and cost of doing business."

To drive the network's point home, CNBC anchor Scott Cohn was broadcasting from Austin on Wednesday.

Texas reasserted its dominance as a business powerhouse this year,” Cohn said. “The state does face some challenges in areas such as education and health care, but its big, deep, diverse economic climate makes Texas impossible for businesses to ignore.”

When CBNC determined the states' rankings for being business-friendly, each was scored on 51 different measures of competitiveness developed with input from business groups including the National Association of Manufacturers and the Council on Competitiveness as well as the states themselves.