Raleigh, N.C. — North Carolina has the best business climate in the nation, according to Site Selection magazine, which placed the state atop its annual ranking for the fifth straight year and the eighth time in nine years.

The economic development magazine cited North Carolina's university and community college systems for the state's winning streak.

"Businesses are finding in the state what they need to succeed,” editor-in-chief Mark Arend said in a statement. “The synergy between North Carolina’s research parks, corporations, communities and economic developers at the state and local levels is a major factor in this year’s top ranking.”

The annual “Top Business Climate” rankings are based on quantitative and qualitative factors that people who help companies expand or relocate say they consider most important. Fifty percent of the ranking comes from a survey of corporate site selection executives who were asked to rank their top 10 states, and 50 percent is based on four measures of plant openings and expansions.

Texas finished second in the latest ranking, followed by Virginia, Ohio and Tennessee. South Carolina and Georgia also finished in the Top 10.

“Business leaders know we are listening to them and working aggressively to meet their needs,” North Carolina Gov. Beverly Perdue said in a statement. “Companies know that in North Carolina they will find top-quality talent, world-class infrastructure, a pro-business environment, and premier education institutions. North Carolina is simply a great place to do business.”