Utah tops business charts

The votes are in, and it seems Utah is the place to be.

Three reports have been released recently that indicate Utah is one of the top states to do business in. The Milken Institute recently named the Beehive State number-one for technology concentration and dynamism in their State Technology and Science Index, which put Utah in the number-eight ranking overall in the report. In a separate report, Business Facilities Magazine just ranked Utah as a top-10 state in five core areas: business climate, manufacturing momentum, most educated workforce, drugs and pharmaceuticals, and medical devices and equipment.

To top it off, CNBC released their second annual list of America's Top States for Business last Wednesday, and Utah scored number three on that list too.

To determine the rankings, each state was scored on 40 different categories. Those totals were then put into 10 broad categories, which included economy, cost of living, and quality of life.

"This ranking highlights our constant effort as a state to maintain a strong economic foundation," Utah Governor Jon Huntsman said in a press release. "Our unmatched quality of life, livability, and dynamic workforce make Utah a great place for businesses, employees, and their customers."

Utah ranked third overall in the economy category, with a score of 196 points out of a possible 314. CNBC looked at basic indicators of economic health and growth, and they also gave credit to states based on the numbers of major corporations located there.

Jeff Edwards, president and CEO of Economic Development Corporation of Utah, said the report accurately reflects what he sees in Utah.

"We've got a really diverse economy," he said. "There's not just one industry that drives the economy. That lends to our strength."

Another category Utah fared well in was business friendliness and quality of life, ranking as the sixth-best state in each.

"This is a great place to live," Edwards said. "People are figuring that out. We have a good business climate here as well."

Utah did have its weak points, however. The state only received 69 points out of a possible 250 for education. CNBC defined education in the survey, saying: "Education and business go hand-in-hand. Not only do companies want to draw from an educated pool of workers, they want to offer their employees a great place to raise a family. Higher-education institutions offer companies a source to recruit new talent, as well as a partner in research and development. We looked at traditional measures of K-12 education including test scores, class size and spending and also considered the number of higher education institutions in each state."

Another weakness for Utah was transportation, which the state earned 47 points out of a 107 available. It placed 32nd in the survey in that area. Transportation was defined by looking at the availability of air travel and the quality of the roads.

Other Western states also made it to the top, with Idaho securing the number-four position, while Colorado nabbed the number-five slot. Texas ranked first, and Virginia second. Alaska was rated the worst state to do business in, and Hawaii came in second to last.