Indiana ranked 14th nationally in CNBC's America’s Top States for Business, an annual ranking that's based on 66 different measures of competitiveness.
The Hoosier state ranked second nationally in cost of doing business and cost of living and third in infrastructure, according to the cable business news channel. Indiana placed eighth in business friendliness and 10th in economy, but did not fare as well in other categories.
Indiana finished 24th in access to capital, 26th in technology and innovation, 29th in education, 35th in workforce and 45th in quality of life.
CNBC, a financial news network that reaches 785 million homes worldwide, ranked Indiana as the fourth-best state for business in the Midwest, after Minnesota, Nebraska and Michigan.
Washington placed first nationwide after its economy grew 3.7 percent last year, saw a 2.9-percent increase in jobs and had one of the hottest housing markets in the county.
“Washington has assembled an amazing roster of both household business names and rising stars to position itself as a powerhouse for some time to come. But the state faces some substantial challenges. How it meets them will determine whether this is just the start of a long period of business dominance, or if this is the peak,” CNBC Special Correspondent Scott Cohn said.
Georgia, Minnesota, Texas and North Carolina rounded out the top five, which are ranked according to metrics that state economic development agencies use in their marketing materials.