Swyft Filings, an online incorporation and compliance provider that works with entrepreneurs, looked at several factors in ranking the best states in which to start a business.
Driven by a surging legalized marijuana industry and fast-growing tech companies associated with AI, machine learning and cryptocurrency, Colorado comes in at #10.
A combination of low taxes, lower costs of living and inexpensive filing fees brought North Carolina to #9, Iowa to #8, Indiana to #7 and Mississippi to #6.
Detroit’s resurgence makes Michigan the 5th most attractive state for start-ups.
Less red tape and high business survival rates landed Ohio at #4 and Virginia at #3.
The presence of over 80 state-backed financial assistance programs brought Oklahoma to the #2 spot.
With some help from recent moves by Tesla and Oracle, as well as comparatively lower costs of living, Texas took home the #1 spot for start-ups.