Indiana was ranked as the best place to do business in the Midwest and the fifth best nationwide in the Pollina Corporate Top 10  Pro-Business States for 2012 study, co-published  with the American Economic Development  Institute. This is the fourth ranking in less than a year in which the Hoosier State’s business climate has scored a top ten finish nationally.

The Pollina Corporate Top 10 Pro-Business States study, now in its ninth year, is based on 32 factors controlled by state government, including taxes, human resources, education, right-to-work legislation, energy costs, infrastructure spending, workers compensation laws, economic incentive programs and state  economic development efforts.

Indiana’s ranking in the report has moved up 18 places since 2010,  earning it the title of “most improved state”  this year. “Indiana’s pro-business policies and solid fiscal house continue to earn national attention  as a frontrunner for new jobs and investment,” said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic  Development Corporation. “This ranking is the latest validation of this administration’s focus since 2005 to make economic development efforts a top priority. Above all else, business climate matters and the pay-off for Hoosiers is new  careers and opportunities.”

Indiana’s 5th place ranking makes it the only Midwestern state and the only Northern state in the publication’s top 10. Among neighboring states, Kentucky ranked 28th, Ohio ranked 20th, Michigan ranked 39th and Illinois ranked 48th.

“Under Governor Daniels’ leadership, Indiana  became the first Great Lakes or New England  state to become a right-to-work state,” said Dr. Ronald R. Pollina, president of Pollina Corporate Real Estate, Inc. and co-author of the Pollina Corporate Top 10 Pro-Business States study. “Indiana legislators also made significant changes to their state’s workers compensation regime. Indiana property taxpayers saw substantial saving compared to previous  years thanks to statewide tax caps on their  property tax bills. These factors were  instrumental in raising Indiana’s pro-business rank.”

The Pollina Corporate Top 10 Pro-Business States study is the latest in a series of national accolades the Hoosier State’s business climate has garnered. In July, CNBC named  Indiana the fifth most business friendly state  in the nation in its “America’s Top States for  Business” report. Also, Indiana’s business  environment recently scored a top five finish nationally in Chief Executive magazine’s “Best  & Worst States” survey of more than 500  chief executives released in May.