Taking into account 36 factors - including business costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. There were 11 different sources used in compiling data for the research.

According to Forbes, Montana's economy held up better than most during the economic downturn. Recently, unemployment has hovered around 4.6%. Of note, over the past 3 years, Montanans have launched more new businesses per capita than any other state, according to the Small Business Administration. With nearly two-thirds of Montana land dedicated to agriculture and ranch land, this continues to be a major employer in the state.

The projected annual job growth is 1.2% and the annual median household income is $45,665. Overall, Montana was just behind South Carolina and ahead of Kansas.

Source: Missoulian