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Forbes tabs Arizona as 24th-best state for business

Forbes' list of the 25 best states for business put Arizona at No. 24.

Virginia was No. 1.

Arizona's negative five-year annual gross state product growth came in at minus 1.1 percent.

Forbes explained its methodology:

Our study looks at six important factors for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Virginia is the only state to rank in the top five in four areas -- only missing on costs and growth prospects.

Arizona rated high in a companion outlook about job growth.

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