Indiana was ranked first in the Midwest and sixth nationwide as the best place to do business by Chief Executive magazine. It is the only midwestern state ranked in the top 10, a press release from the Indiana Economic Development Corp. announced.

The magazine’s “Best & Worst States For Business” ranking is based on surveys of more than 500 CEOs. According to Chief Executive, the results of the 11th annual survey show that CEOs favor states with progressive business development programs, low taxes and a quality living environment.

“We’ve worked hard to create a low-cost, pro-growth economic environment here in Indiana,” said Gov. Mike Pence. “This ranking confirms what we already know as Hoosiers. With an honestly balanced budget, robust infrastructure and a top-notch workforce, Indiana is a state that works for business.”

As highlighted by Chief Executive, Indiana, home the RV industrys’ manufacturing hub, became the first midwestern right-to-work state in 2012, a law that was upheld by the Indiana Supreme Court last year. Since its passing, more than 100 companies have indicated to the IEDC that its passage was a factor in their decisions to locate or expand operations in Indiana. Collectively, these projects account for approximately 10,000 projected new jobs and more than $2.3 billion capital investment in the state.

Indiana’s sixth place ranking makes it the only midwestern state in the publication’s top 10. Among neighboring states, Kentucky ranked 28th, Ohio ranked 22nd, Michigan ranked 43rd and Illinois ranked 49th.

This Chief Executive magazine ranking is the latest in a series of national accolades for Indiana’s business climate, the release stated. Last year, Indiana was ranked best in the midwest and 7th overall in Area Development magazine’s “Top States for Doing Business” as well as best in the midwest and 7th in the nation in the Pollina Corporate “Top 10 Pro-Business States for 2014” study.