1. Americas Top States for Business 2012 Montana and surrounding states

2. OVERALL RANKING All 50 states were scored on 51 measures of competitiveness developed with input from business groups including the National Association of Manufacturers and the Council on Competitiveness. States received points based on their rankings in each metric. Then, the metrics were separated into ten broad categories, weighting the categories based on how frequently they are cited in state economic development marketing materials. That way, the study ranks the states based on the criteria they use to sell themselves. * Information provided by cnbc.com Americas Top States for Business 2012

3. 10 CATEGORIES CONSIDERED WHEN RANKING Cost of Doing Business Workforce Quality of Life Infrastructure & Transportation Economy Education Technology & Innovation Business Friendliness Access to Capital Cost of Living *Information provided by cnbc.com Americas Top States for Business

4. MONTANA RANKING COMPARED TO COMPETING STATES Cost of Doing Business Cost is a major consideration when a company chooses a state. The study looked at the tax burden, including individual income and property taxes, as well as business taxes, particularly as they apply to new investments. Utility costs can add up to a huge expense for business, and they vary widely by state. The cost of wages, as well as rental costs for office and industrial space (rental cost information furnished by CoStar Group) were also considered. * Information provided by cnbc.com Americas Top States for Business

5. MONTANA RANKING COMPARED TO COMPETING STATES Workforce Many states point with great pride to the quality and availability of their workers, as well as government- sponsored programs to train them. States were rated based on the education level of their workforce, as well as the numbers of available workers. Union membership is also considered. While a union workforce is a quality workforce, it does not reflect favorably for states in this study. The relative success of each state’s worker training programs in placing their participants in jobs were also compared. * Information provided by cnbc.com Americas Top States for Business

6. 10 CATEGORIES CONSIDERED WHEN RANKING Quality of Life The best places to do business are also the best places to live. The states were scored on several factors, including local attractions, the crime rate, health care, as well as air and water quality. * Information provided by cnbc.com Americas Top States for Business

7. 10 CATEGORIES CONSIDERED WHEN RANKING Infrastructure & Transportation Access to transportation in all its modes is key to getting your products to market and your people on the move. The vitality of each state’s transportation system were measured by the value of goods shipped by air, land and water. The availability of air travel in each state, and the quality of the roads were factors considered as well. * Information provided by cnbc.com Americas Top States for Business

8. 10 CATEGORIES CONSIDERED WHEN RANKING Economy A solid economy is good for business. So is a diverse economy, with access to the biggest players in a variety of industries. Basic indicators of economic health and growth were compared. * Information provided by cnbc.com Americas Top States for Business

9. 10 CATEGORIES CONSIDERED WHEN RANKING Education Education and business go hand in hand. Not only do companies want to draw from an educated pool of workers, they want to offer their employees a great place to raise a family. Higher education institutions offer companies a source to recruit new talent, as well as a partner in research and development. Looked at were traditional measures of K-12 education including test scores, class size and spending. The number of higher education institutions in each state were also considered. * Information provided by cnbc.com Americas Top States for Business

10. 10 CATEGORIES CONSIDERED WHEN RANKING Technology & Innovation Succeeding in the new economy or any economy takes innovation. The top states for business prize innovation, nurture new ideas, and have the infrastructure to support them. The states were evaluated on their support for innovation, the number of patents issued to their residents, and the deployment of broadband services. Federal health and science research grants to the states were also considered. * Information provided by cnbc.com Americas Top States for Business

11. 10 CATEGORIES CONSIDERED WHEN RANKING Business Friendliness Regulation and litigation are the bane of business. Sure, some of each is inevitable. The states were graded on the perceived “friendliness” of their legal and regulatory frameworks to business. * Information provided by cnbc.com Americas Top States for Business

12. 10 CATEGORIES CONSIDERED WHEN RANKING Access to Capital Companies go where the money is, and venture capital flows to some states more than others. * Information provided by cnbc.com Americas Top States for Business

13. 10 CATEGORIES CONSIDERED WHEN RANKING Cost of Living The cost of living helps drive the cost of doing business. From housing to food and energy, wages go further when the cost of living is low. * Information provided by cnbc.com Americas Top States for Business

14. TOTAL OVERALL RANKING MONTANA AND SURROUNDING STATES * Information provided by cnbc.com Americas Top States for Business

15. MONTANA RANKED 24 TH BEST STATE FOR BUSINESS OVERALL 1Texas 2Utah 3Virginia 4North Carolina 5North Dakota 6Nebraska 7South Dakota 8Colorado 9Georgia 10Wyoming 11Minnesota 12Iowa 13Idaho 14Indiana 15Kansas 16Tennessee 17Wisconsin 18Oregon 19New Hampshire 20Arkansas 21Washington 22Arizona 23Oklahoma 24Montana 25Ohio 26Illinois 27Missouri 28Massachusetts 29Florida 30Pennsylvania 31Maryland 32South Carolina 33Michigan 34New York 35Maine 36 (tie)New Mexico 36 (tie)Kentucky 38Alabama 39Vermont 40California 41New Jersey 42Louisiana 43Delaware 44Connecticut 45Nevada 46Mississippi 47Alaska 48West Virginia 49Hawaii 50Rhode Island * Information provided by cnbc.com and forbes.com * In 2011 Montana was ranked 38 th overall by cnbc.com and 24 th by Forbes.com (2012 results for Forbes have not been released)