North Carolina was recently ranked the #1 state in Ameria for Business, according to a new report by Forbes.
The report notes that over the past 2 decades, the Tar Heel state has developed our nation’s strongest business climate, “fueled by low business costs, incentives and a young, educated workforce, many of whom have been trained at the strong universities in the state and Research Triangle Park. Migration rates into the state are among the highest in the U.S. annually. The Tar Heel State is the only one to rank among the top five on FORBES’ Best States for Business for 12 straight years, but it never reached the top rung until now.”
Last year’s report ranked us in the #2 spot. Our business-friendly reputation was slightly hindered after the passage of HB2 (“The Bathroom Bill“), which required people to use the public facilities that correspond to their biological gender. The bill caused an estimated $500 million in lost economic activity, after Deutsche Bank and PayPal canceled their expansion plans and the NBA, NCAA and ACC all pulled their sporting events from our state.
The bill was repealed in March of last year, removing the barriers some companies had to moving here.
To come up with the list, Forbes examined each state across six broad categories: business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. North Carolina is the only state to rank among the top 20 states in all six categories (click here to see their detailed methodology).