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The Associated Press November 2, 2011, 4:10PM ET

Michigan comes in No. 2 in Bloomberg evaluation

Gov. Rick Snyder says he's pleased Michigan ranked No. 2 in the first-ever Bloomberg Economic Evaluation of States.

The Republican told reporters Wednesday in a conference call that the ranking will help sell the state worldwide as a good place to do business. Bloomberg says Michigan came in second "thanks in part to the effect of the auto bailout" under President Barack Obama.

The rankings take into effect a number of factors going back to 2008, when Democrat Jennifer Granholm was governor.

They also factor in Michigan-based businesses that have seen strong growth in recent years, such as Ford Motor Co., General Motors Co. and Dow Chemical Co. Much of the information is targeted to municipal bond buyers.

North Dakota is first and California third.

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