MADISON C0, (May 11, 2015) — According to Chief Executive Magazine  Tennessee ranks in the Top 5 of Best Places to do business.  The state slipped from 3rd to 4th in the magazines annual survey.

According to the magazine the results (of the) 11th annual survey clearly show that CEOs favor states that foster growth through progressive business development programs, low taxes and a quality living environment.

Texas, Florida, North Carolina made up the top 3, Georgia moved up 5 spots to round out the Chief Executive Magazine top 5.

CNBC also released its America’s Top States for Business rankings.

Georgia, Texas, and North Carolina were also in the top 5 in their rankings.  Tennessee was ranked 14th.

According to the CNBC website, all 50 states were scored on 56 measures of competitiveness, developed using input from business groups, economic development experts, companies and the states themselves. States receive points based on their rankings in each metric. Those metrics were then separated into 10 broad categories, weighting the categories based on how frequently they are cited in state economic development marketing materials. That way, the study ranks the states based on the criteria they use to sell themselves. (Check out methodology in scoring the states.)