Indiana is best place to do business in the Midwest!

Indiana was ranked as the best place to do business in the Midwest and the fifth-best nationwide in a survey of more than 500 chief executives by Chief Executive magazine.

The magazine’s ninth annual “Best & Worst States” survey asks CEOs to evaluate states based on business tax policies, regulation, workforce quality and livability factors, according to a news release from the Indiana Economic Development Corp.

Indiana was the only Midwestern state in the publication’s top five. Among neighboring states, Ohio ranked 22nd, Kentucky ranked 29th, Michigan ranked 44th and Illinois ranked 48th.

“With our talented workforce, solid fiscal house and robust infrastructure, the Hoosier State’s job creation efforts are receiving national attention,” Gov. Mike Pence said in a statement. “Chief executives know that Indiana is one of the few states that actually works for business.”

The magazine ranked Indiana No. 5 nationally in 2012, No. 6 in 2011 and No. 16 in 2010.

Texas was ranked No. 1 this year.