In Forbes eighth annual list of the best states for business, South Dakota comes in at number 11.
Forbes' study looked at six important factors for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. South Dakota was number one in the nation in business costs. Forbes reported that business costs in South Dakota were 25 percent below the national average. South Dakota was sixth in economic climate.
North Dakota came in second overall behind Virginia, with the Bakken oil shale fields in the western part of the state being credited for its economic growth. Minnesota came in as the eighth best state for business.