Tennessee slips in ranking of best states for business

Tennessee is the 18th best state for business in 2011, according to CNBC’s annual rankings. That’s down two spots from the 2010 list.

Virginia captured the top spot for the second straight year.

CNBC’s study considers 10 categories: Cost of Doing Business, Workforce, Quality of Life, Economy, Transportation & Infrastructure, Technology & Innovation, Education, Business Friendliness, Access to Capital and Cost of Living.

Tennessee’s best category rankings were Costing of Living (No.2) and Transportation & Infrastructure (No. 5). The state’s worst categories were Quality of Life (No. 47) and Economy (No. 46).

Here’s the full CNBC report: America’s Top States for Business 2011