Texas No. 2 in the nation for business, annual report says

For the second year in a row, Texas ranks No. 2 for business in the nation in CNBC’s annual report on all 50 states and their business climate.

The cable network has been teasing viewers all day with its countdown to No. 1 by special correspondent Scott Cohn from this year’s top-ranked state.

Utah gets the prize this year (special appearance by native son Donny Osmond singing “Survivor”). Coincidentally, Forbes had Utah at No. 1 in 2015, and Texas at No. 6 (but first in economic climate).

CNBC ranked the states in 10 broad categories: economy, cost of doing business, workforce and quality of life, among others. Texas has been in the top five in all 10 years CNBC has done the survey.

The state ranked first in economy this year “because it’s big and diverse – home to 45 companies in the S&P 500,” and its finances and jobs market are strong, according to a CNBC news release.

It ranked in the top 10 in five categories (economy, infrastructure, workforce, access to capital and technology and innovation). But it’s near the bottom in education (40th) and quality of life (37th) and has the nation’s largest percentage of uninsured residents. Listening, lawmakers?

But business isn’t the only reason people come to Texas. How many other places can you eat a 72-ounce steak (not that you’d want to, necessarily)? Or find the World’s Largest Honky-Tonk? Or visit a Cadillac Ranch? Or drive for two days and not be out of the state?

That’s right. Welcome to Texas, where there’s plenty of space to stretch out.

The worst place for business? Hello, Rhode Island, for the fourth time. The Ocean State has never done better than 48th. Infrastructure problems. Find the full CNBC report on the states here.

This story was originally published July 12, 2016 at 6:12 PM with the headline "Texas No. 2 in the nation for business, annual report says."