Texas improved its position on Forbes' Best States for Business this year.
The Lone Star State ranked 8th on this year's list, up from 9th in 2008.
The magazine ranks all 50 states based on costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life.
Business costs, which include labor, energy and taxes are weighted the most heavily.
Texas ranks No. 1 in the land for overall economic climate and third for growth potential. But the state ranked fairly low (39th) for quality of life and was 29th when it comes to cost of doing business.
Virginia garnered the top spot for the best business climate in the country for the fourth straight year. Virginia is the only state ranked in the top 20 in each of the six categories, and its $325 billion economy is expected to be the 10th largest in the U.S. in 2009.
Rhode Island ranked last on the list with the worst regulatory environment and high costs of business.
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