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CNBC: Minnesota remains one of the best states in the US for business

Minnesota came in at No. 7 overall for the second year in a row.

Minnesota is the seventh-best state in the U.S. for business.

That's according to the latest annual rankings from CNBC, which looked at 85 different metrics across 10 general categories to order the states from one to 50. 

Minnesota saw quite high marks in the categories of Life & Health (fourth overall), Technology & Innovation (fourth overall), Education (fifth overall) and infrastructure (12th overall).

The "Cost of Doing Business" ranked 42nd out of 50. This category takes into account a state's taxes, cost of office space, and its wage costs. Whether these are good or bad things will depend on an individual's point of view, but Minnesota's corporate tax rate is one of the highest in the nation, as is its minimum wage.

Related: New $440M wood manufacturing plant to be built on Iron Range

This is the second straight year Minnesota came in at No. 7. Minnesota also stands as the highest-ranked Midwestern state on the list.

Here's the top 10:

  1. Virginia
  2. North Carolina
  3. Utah
  4. Texas
  5. Tennessee
  6. Georgia
  7. Minnesota
  8. Colorado
  9. Washington
  10. Ohio

As for our neighbors, Wisconsin came in at No. 21 overall, with Iowa one spot ahead at 20. The Dakotas ranked 18th (North) and 29th (South). 

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