Top executives rate Texas as the No. 1 state in which to do business for the fifth year in a row.

Chief Executivemagazine’s annual Best & Worst States survey measures business conditions in all 50 states, evaluating proximity to markets and resources, regulation, tax policies, workforce quality, education resources, quality of life and infrastructure.

The biggest gainers are Washington, which moved up 10 spots, and Arkansas, which rose eight positions. The biggest losers are Oregon, down 14 positions, and North Dakota and Connecticut, both down seven spots.

Those states selected as the best places to do business are:

1. Texas
2. North Carolina
3. Tennessee
4. Virginia
5. Nevada

Those states identified as the worst places to do business are:

1. California
2. New York
3. Michigan
4. New Jersey
5. Massachusetts

Source: Chief Executive (05/13/2010)