Washington finishes the “best business climate” race in 21st place, according to a new report by CNBC. Texas comes in first, followed by Utah and Virginia. The full rankings are here.

Our state does relatively well on the CNBC metrics for access to capital (3) and technology and innovation (5). We do not do so well on infrastructure and transportation (36), business friendliness (36), cost of doing business (37), and economy (45). Overall, we’re down one from our 20th place ranking last year.

Measurement matters and CNBC is relatively transparent. Their methods are discussed here.

In a recent report, we looked at nine such studies, including the 2011 CNBC report. (You can never get these things out without someone updating their report right after you’ve published.) We concluded (again) that there’s no “best state for business,” as different industries often value various aspects of the business climate differently. And within a state specific regions and metro areas offer different attractions. That said, we noted…

The rankings, whether based on weighted assessments of a state’s policies or the perceptions of business owners, tilt south, toward states that have aggressively courted business with incentive programs and business-friendly tax, labor and regulatory policy.

Quality public services, particularly education, also matter. Technology and innovation, as well as more traditional industry, rely on a skilled workforce, research and development, and high-performing transportation and communications systems.

The benchmarking continues.