CNBC ranks Nevada 47th among top states for business

By Erin Dostal

Tuesday, July 13, 2010 | 7:06 p.m.

Nevada was ranked 47th of CNBC’s “Top States for Business” for the second year in a row.

CNBC measured the states in 10 categories, which included education, technology and innovation, cost of living, and quality of life. According to CNBC’s website, the group scored states on 40 metrics.

Texas, which was second overall last year, earned first place in 2010.

Nevada placed last in education and tied with Rhode Island for last place in economy — a measure of overall economic strength.

The strength of a state’s economy was measured using the diversity of businesses, as well as the presence of large corporations.

Last year, CNBC ranked Nevada 49th in both the education and economy categories.

The state scored 15th overall in business friendliness, which assessed “legal and regulatory” frameworks. Nevada ranked 19th for its workforce, as measured by the availability and quality of workers.

CNBC used test scores, the number of higher education institutions, class sizes and spending on education to rank each state’s schools. Education is important to businesses because it creates a strong base from which to recruit, the website said.