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Wisconsin ranks as the 32nd best state for business according to Forbes Magazine, the state's best showing since the magazine started its annual list in 2006.

The state has often fallen among the 10 worst states for business, receiving that ignominious distinction in 2007-10 and 2012-13. Last year it ranked 41st.

The ranking is based on performance in six categories — business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. The magazine analyzes 37 data points, such as taxes, education attainment, job and income growth, unemployment and economic forecasts from Moody's Analytics.

Gov. Scott Walker issued a press release highlighting the state ranking 18th in the future growth category. That area showed the most improvement since 2009, when the state ranked 48th overall and 45th in future growth.

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"Forbes’ positive rankings for Wisconsin confirm that not only is our economy getting stronger every day, but that the prospects for future economic growth here are significantly improving," Walker said. "This is another indication the pro-business policies that we put into place are working, and the future is bright for all Wisconsin workers."

In addition to future growth, Wisconsin has improved its ranking in the regulatory and economic climate categories. Its business costs and labor force rankings remain about the same as in past years. It's quality of life ranking has fallen from the top 10 in several previous years to 17th.

Here's the state's overall ranking each year since 2006:

 Year Rank
 2006

39

 2007  44
 2008  43

 2009

 48
 2010  43
 2011  40
 2012  42
 2013  41
 2014  32

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