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Colorado took seventh place in the . The network ranked South Dakota as the top state for business.

Colorado last year, with improvements in the network’s assessment of the cost of doing business, economy, education and cost of living. Colorado lost ground, according to CNBC, in workforce, quality of life, business friendliness and access to capital.

Following South Dakota in CNBC’s seventh annual ranking were Texas, North Dakota and Nebraska, with Utah and Virginia tied for fifth place.

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