Indiana finished eighth in Forbes’ 10th annual “Best States for Business” rankings, the publication announced Thursday.
It's the first time the Hoosier state has finished in the top 10.
The ranking evaluates 40 data points across six categories, including quality of life, business costs, labor supply, regulatory environment, economic climate and growth prospects.
The state received high marks in several individual rankings: regulatory environment (2nd), quality of life (6th), business costs (12th), economic climate (15th) and growth prospects (16th).
it received low marks for health of the population (46th)
Forbes cited Indiana’s triple-A bond rating and regulatory climate as the biggest positives for the state.
Utah was ranked No. 1 on the list, followed by North Carolina, Nebraska, North Dakota, Colorado, Texas and Virginia.
After Indiana, South Dakota and Washington rounded out the top 10.
West Virginia finished 50th, ahead of Mississippi, Maine, New Mexico and Rhode Island.
As for Indiana’s neighboring states, Ohio was 15th, Kentucky 28th, Michigan 30th and Illinois 38th.