Michigan’s #7 ranking outpaced all of its neighbors in today’s release of Site Selection magazine’s top competitive states and is highest among all states outside of the southeast U.S. The selection puts Michigan ahead of regional competitors Indiana, Ohio, Illinois and Wisconsin and 39 other states in the U.S.

“Today’s good news signals to the world that Michigan again stands among the nation’s best places for new business investment,” said Steve Arwood, Michigan Economic Development CEO. ”Site location executives and consultants play a vital role in major corporate expansion decisions. This is fresh news that adds to the many advantages that make Michigan attractive.

“This recognition of Michigan’s reinvention shows the value of all that we have achieved through business climate improvements and national leadership in fiscal responsibility, business tax restructuring and reductions of 2,000 outdated regulations, Arwood said.

Michigan’s economic rebound since 2009 placed the state 2nd only to North Dakota according to Bloomberg Business. The state has gained 400,000 new private sector jobs since 2010, improved its credit ratings and lowered the costs of unemployment and workers’ compensation.

The six states that ranked higher in the Site Selection Competitiveness study were: North Carolina, Louisiana, Texas, South Carolina, Tennessee and Kentucky.