A New CNBC Study Ranks Washington as the Country's No. 1 State for Business

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It might be nigh impossible to find an affordable (under $750k) house to buy in or around Seattle, we might be dealing with a homelessness crisis and shoddy funding for education, but according to a pretty reputable source, we know our damn business.

CNBC revealed the results of its 11th annual list of America's Top States for Business, and Washington has taken the top spot, scoring 1,621 out of 2,500 points.

From the press release:

Washington has placed in the top ten for the last four years and celebrates 2017 in first place. This year, the state had top ten finishes in five of the ten categories of competitiveness—coming a long way from its number 21 position in 2012 and 2013. Washington’s economy grew 3.7 percent in 2016, the largest increase of any state and nearly 2.5 times the national rate. That, along with solid job growth and one of the hottest housing markets in the country, won the state third place for Economy, its best category in the study along with Technology & Innovation. However, Washington is notoriously expensive. And even though the state has no individual or corporate income tax, it took the number 37 spot for Cost of Living, its worst category, and number 32 for Cost of Doing Business as the state’s wages and rents are among the highest in the country.

The study scored all 50 states on 66 metrics across 10 categories of competitiveness that measure actual performance by the states. Here's a detailed breakdown of how Washington earned its No. 1 ranking, and below, a list of the states that made it to the top five. The rankings for all 50 states are available here.

America’s Top 5 States for Business:

1. Washington

2. Georgia

3. Minnesota

4. Texas

5. North Carolina