Forbes says Washington No. 10 in business

We’re No. 10! (On the recently released Forbes Magazine “Best States for Business” list.)

In its annual look at the business climate state-by-state, Forbes placed Washington between South Dakota and Georgia. Utah took top honors, followed by North Carolina, Nebraska, North Dakota and Colorado in the top five.

With a gross state product of $427 billion, Washington is “a cradle for innovation,” Forbes stated.

In a capsule summary, the magazine said the Evergreen State “is the birthplace for a spectrum of iconic companies, including Microsoft, Amazon.com, Nordstrom, Starbucks, Boeing and Costco. Venture capitalists are always searching for the next great Washington company, pouring $2.9 billion of VC money — fifth most in the U.S. — into the state between 2012 and 2014. Though Washington does not collect personal or corporate income taxes, the business and occupation tax (B&O) affects most businesses.”

This story was originally published October 23, 2015 at 5:30 PM with the headline "Forbes says Washington No. 10 in business."