HispanicBusiness

Wisconsin is one of the 10 worst states in the nation for business, according to a Forbes magazine ranking released Wednesday.

Wisconsin is No. 42, two notches below its No. 40 ranking for 2011.

Forbes says Wisconsin's gross state product is $255 billion, with a five-year annual growth rate of minus 0.1 percent.

"The Badger State adopted the slogan 'Open for Business' in 2011, erecting signs along the state border. The results have been middling at best as job growth is projected to be second worst in the U.S. through 2016," the caption reads, under a photo of Madison's skyline.

Utah topped the list of Best States for Business for 2012 while Maine came in last.

Forbes said the rankings are based on data from 10 sources and focus on "six vital factors" for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life.