Minnesota has been booming since the end of the recession, adding nearly 200,000 jobs in the past four years alone and boasting one of the lowest unemployment rates in the country at 3.8 percent. Total jobs in the state went above 3 million in the past year for the first time ever.

Thanks to those kinds of numbers, the state is beginning to get some notice nationally. CNBC certainly noticed when it recently named Minnesota America’s Top State for Business. The business channel ranked the state’s economy – one of 10 categories that it examined – fifth-best in the country. The state earned 241 points out of a possible 340 points in the category, finishing behind Utah, Texas, Colorado and Georgia.

CNBC considered a variety of criteria in its analysis of the economy, including the number of major corporations headquartered in the state. Minnesota has an impressive list of corporations that call the state home, including 17 Fortune 500 companies. The list includes Best Buy, UnitedHealth Group, Target, 3M and Hormel.

The state also has some well-known private firms, including agricultural commodities giant Cargill, which is the largest privately held corporation in the United States.

Besides the size of the companies, CNBC examined the mix of major firms headquartered in each state. Again, Minnesota looked strong, with companies excelling in such areas as agriculture, medical devices, retail, health care, information technology and biosciences. The emerging water technology sector also has a number of major players here, including Ecolab and Pentair.

Not to be left out, the state’s small businesses are succeeding as well. The five-year business survival rate in Minnesota has grown from 44 percent to 55 percent, which ranks fifth nationally, according to the Bureau of Labor Statistics.

Minnesotans have an entrepreneurial bent, which is one factor driving new-business growth and survival. Another factor is the support that startups get from programs and services like DEED’s statewide network of Small Business Development Centers. The Angel Tax Credit Program, Minnesota STEP (exporting) and the State Small Business Credit Initiative are among other programs aimed at small businesses.

Another program was added to the mix this spring when the Legislature approved a new equity crowdfunding measure, similar to Kickstarter, that will make it easier for startups to gain access to funding.

CNBC also considered the state’s overall fiscal health, looking at how revenue compared with budget projections. Once more, Minnesota stacked up well when measured against other states. For the first time since the Jesse Ventura administration in the early 2000s, the Minnesota Legislature had a $2 billion budget surplus to work with during this year’s session.

Add it all up and Minnesota is a clear outlier. As CNBC concluded in its analysis, the state’s economy is one of the best in the country.