Forbes tabs Arizona as 24th-best state for business

Arizona comes in at 24th on Forbes' list for best states for business.

BY KTAR.COM

Sep 26, 2013, 1:13 PM Updated: 1:14 pm

Forbes’ list of the 25 best states for business put Arizona at No. 24.

Virginia was No. 1.

Arizona’s negative five-year annual gross state product growth came in at minus 1.1 percent.

Forbes explained its methodology:

Our study looks at six important factors for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Virginia is the only state to rank in the top five in four areas — only missing on costs and growth prospects.

Arizona rated high in a companion outlook about job growth.