Texas came close, but in the end, the Tar Heel State took top honors, not in basketball, but in being named the the best state for business for the third year in a row, reports Forbes.

For 14 years Forbes has rated the business climates of the 50 states in a list that considers 40 metrics across six main categories: business costs, regulatory environment, economic climate, growth prospects and quality of life.

North Carolina ranks in the top third in all six categories. It gets highest marks for its regulatory environment and has the fourth-lowest business costs of any state and rates ninth for labor supply.

Over the last year, Microsoft, car sales platform Carvana and drug company Pfizer announced plans to invest in North Carolina.

Governor Roy Cooper attests this success to a mix of key factors.

“Companies like Microsoft continue to expand in North Carolina because they see us as the right fit for technology success,” he said in a statement about the company’s plan to invest in the state. “Skilled, diverse workers and strong infrastructure mean businesses are confident that expanding in our state is a good business decision.”

Read more about how Forbes awarded the top honor to North Carolina here.