Forbes: Washington jumps to third best state to do business

For Immediate Release: July 31, 2008

OLYMPIA � In a national study released today Forbes ranked Washington as the third �best state for business.� Washington moved up from its fifth place ranking in Forbes� 50-state survey last year, and up from 12th place in 2006.

Forbes noted Washington state is one of only three states to finish in the top 10 in four of the six categories, ranking second in labor and business growth prospects, and achieving high rankings in the environment and economic climate categories. Areas where Washington particularly excelled � growth prospects and labor � suggest Washington has the skilled work force which keeps the state competitive in an international market place.

�I congratulate our businesses and state agencies for this honorable recognition,� said Gov. Chris Gregoire. �Our third place ranking in the Forbes survey confirms that Washington is where you want to do business. By highlighting our future capacity, Forbes has told the world Washington is open for business. Not just now, but far into the future.�

The Forbes rankings mirror the March announcement from the Pew Center �Grading the States 2008� 50-state report card published by Pew in partnership with Governing Magazine, suggesting a well run state government is central to economic success. Washington earned a prestigious A- ranking for its performance in managing public resources. Washington tied Utah and Virginia for first place. The three were the only states to earn A- grades.

"It's always good be recognized as a great place to do business,� said Bruce Kendall, CEO of the Economic Development Board of Tacoma-Pierce County. �This is just the kind of independent recognition we need for recruiting businesses to Pierce County and the rest of the state."