Raleigh vaults to No. 1 from No. 3 a year ago on the latest “Best Places for Business and Careers” report from Forbes magazine.

The 16th annual survey cites lower business costs, the broad level of advanced education and the presence of tech hub RTP as key factors in Raleigh’s success.

Being No. 1 is certainly not new for the Capital City.

Forbes ranked Raleigh as the top metro in 2011 and from 2007-2009.

Notably, Forbes reporter Kurt Badenhausen reports, Raleigh is the “only east Coast city that made the top 10.”

“Fueling Raleigh’s consistent results are business costs that are 18% below the national average, and an adult population where 42% have a college degree, the 12th best rate in the U.S. (30% is the national average),” Badenhausen says. He notes the presence of N.C. State and the access to UNC-Chapel Hill as well as Duke.

“he area’s appeal has led to a strong inflow of new residents to the city, which boasts the sixth fastest net migration rate over the past five years,” he adds.

Noting Cisco’s recent announcement of some 550 jobs and the fact that 1,800 startups have launched in the area since 1970, Badenhausen points out the 39,000 tech-related jobs based in RTP. Firms Forbes cites for driving growth include: IBM, GlaxoSmithKline, Fidelity Investments, Biogen, Credit Suisse and BASF.

Raleigh also is expected to add 3.7 percent more jobs through 2016, making in the seventh fastest job producer among metro areas, according to Forbes. 

Des Moines, Iowa, led the survey in 2013 and is No. 2 this year. 

Provo, Utah. ranks third followed by Denver and Fort Collins, Colo. 

The full Forbes report can be read online.