(Patch) Michigan ranks no. 31 in the country for business climate, according to a new report from Forbes. The American business magazine published its 13th annual “Best States For Business” rankings Wednesday.

Forbes said the rankings were calculated based on more than 40 metrics spanning six categories: business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. Michigan fell between Pennsylvania and Wisconsin in Forbes’ overall rankings.

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Here’s a breakdown:

Business costs

  • Rank: 37
    Labor supply
  • Rank: 44
    Regulatory environment
  • Rank: 17
    Economic climate
  • Rank: 14
    Growth prospects
  • Rank: 33
    Quality of life
  • Rank: 18
    Here’s what Forbes had to say about Michigan.

Since Governor Rick Snyder took office in 2011, Michigan has undergone huge changes. The state became the 24th right-to-work state in March 2013. Snyder repealed the Michigan Business Tax and also rolled back taxes on personally property owned by businesses. In addition, Michigan restructured its incentive programs to improve transparency. Michigan moved up 18 spots in Best States rankings from No. 49 in 2009. The state still has issues.

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The rankings suggest business people ought to consider moving to North Carolina, which topped the list for the second consecutive year. The authors prasied “The Tar Heel State” for its high net migration rate. Many more people have flooded into the state than have exited, the authors said. The state also has one of the smallest number of unionized workers in terms of percent of total employment.

“The resulting benefit is labor costs that are 9 percent below the national average — sixth lowest in the country,” the magazine wrote.

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