Louisiana is the nation’s seventh-best state for business in Chief Executive magazine’s annual ranking of Best & Worst States for Business.

The state was ranked 47th in 2008.

“Louisiana now stands as a formidable force in the global competition for jobs,” said Gov. Bobby Jindal.

J.P. Donlon, Chief Executive’s editor-in-chief, added: “Louisiana is proof that a state can transform itself — provided it has the will and understanding of what attracts business investment — from a place that was once considered a backwater to a state that (corporate leaders) now regard as dynamic and business-friendly.”

Officials of the Louisiana Department of Economic Development said the state has attracted 91,000 new jobs and $62 billion in new capital investment since January 2008.