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Forbes magazine has listed Indiana at number 8 on its “Best States for Business” list. It’s the first time the state has made the list. The state was listed at number 12 for business costs, number 42 for labor supply, number two in regulatory environment, number 15 in economic climate, number 16 in growth prospects, and number six for quality of life. The magazine also noted that Indiana has a cost of doing business that’s 9.8 percent below the national average.

It’s not the only accolade that the state has won recently. Indiana ranked first on the Pacific Research Institute’s 50-State Small Business Regulation Index.  The listing was published in July. And Chief Executive magazine rated Indiana at number six on its list of Best and Worst States for Business. The magazine noted that Indiana was the only state in the Midwest to make the list.