HARTFORD, Conn. (WTNH) — A study of 15 competitive markets found that Hartford was the second-best place to expand a business.

The greater Hartford area especially ranked high in the study, conducted by the MetroHartford Alliance and the accounting firm Cohnreznick. The group found that the cost of living, the cost of running a business and the labor market make the region competitive.

“When companies are looking to expand, the number one thing that they need is talent, and the Hartford region has the highest concentration of insurance-related talent anywhere in the country,” said David Griggs, the president and CEO of the MetroHartford Alliance.

Other cities included in the study were in New York, Massachusetts, North Carolina and Texas.