And the top state for business is…

New York -- The top state for business is a high-tax, high-wage, union-friendly, cold-climate state, according to an annual ranking by CNBC.



Minnesota came out on top in CNBC’s 2015 Top States for Business, (it finished sixth last year), followed by Texas which came in second for the third year in a row and missed the top spot this year by just four points. Utah, which has finished in the top every year of the study, was third. Rounding out the top five: Colorado and Georgia, which ranked first last year. (To see the complete rankings for all 50 states, click here).



In coming up with its ranking, CNBC scored states in more than 60 metrics in 10 broad categories of competitiveness, each with its own assigned point value. The categories include workforce, cost of doing business, business friendliness, quality of life, infrastructure, technology and innovation, and cost of living. Minnesota scored 1,584 out of a possible 2,500 points, ranking in the top half for all but two of the 10 categories of competitiveness. (To see the complete rankings for all 50 states, click here).



WORST: Hawaii came in dead last, finishing 50th overall, in the survey. While the Aloha State is a great place to vacation, a number of factors, including the high cost of living and doing business, work against it. On a positive note, Hawaii came in first in the quality of life category



Other laggards include West Virginia (#49), Rhode Island (#48); Alaska (#47), Louisiana (#46), and Nevada (#45,).



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