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North Dakota Ranks Near top in State Competitiveness
Post Date: Aug 02 2016

By ND Commerce
For the fifth consecutive year North Dakota has earned the nation’s second best ranking in business climate competitiveness, according to the 2015 edition of the Beacon Hill Institute’s (BHI) annual State Competitiveness report.
“North Dakota’s pro-business environment and our entrepreneurs continue to give the state a competitive advantage,” Commerce Commissioner Al Anderson said. “Business incubation is also central to economic development. State leaders and legislators have placed an emphasis on improving the state’s business climate. This study reflects the ongoing success of their efforts.”
North Dakota achieved 20 top-ten national rankings including first in infrastructure investment, access to high-speed bandwidth, educational attainment and electricity prices. The greatest improvement over the previous year was in the area of business incubation, where North Dakota rose from 13th to 6th.  The business incubation subindex measures a state’s ability to mobilize financing for investment and rate of business births, a key factor in business competitiveness. North Dakota also placed sixth in human resources factors such as a high level of labor force participation, availability of skilled labor and a widespread commitment to education, training and health care.
The BHI competitive index is based on a set of 43 indicators divided into eight subindexes—government and fiscal policy, security, infrastructure, human resources, technology, business incubation, openness and environmental policy.  The overall index is an average of the eight subindexes. 
The top five performing states are (in rank order):  Massachusetts, North Dakota, South Dakota, New Hampshire and Iowa. Published by The Beacon Hill Institute at Boston's Suffolk University since 2001, the report has drawn the growing attention of policymakers, economist and public officials across the nation seeking to identify strengths and weaknesses in economic performance.  
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