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"Forbes" ranks Michigan among worst states for business

LANSING (WKZO) -- Despite consistent rhetoric from Governor Snyder and his administration that Michigan's business climate is improving, "Forbes" ranks the state 47th in its list of the Best States for Business.

Michigan is 48th in labor supply, 47th in economic climate and 47th in growth prospects.  The study noted the cost of doing business in the state is nearly three-percent above the national average and is Michigan is the only state with a drop in population over the past five years.

Outside of the Northeast and Maryland, Michigan's labor costs are the highest in the country.