North Carolina Ranked America’s #1 State for Business In 2022

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The State of North Carolina has just been ranked as America’s #1 state for business in 2022.

According to CNBC’s annual state competitiveness ranking, the Tar Heel state edged out the #2 state of Washington with superior Infrastructure, Cost of Doing Business, Economy, and Business Friendliness scores. Since the annual ranking first started in 2007, we’ve usually finished in the top 10, but this is the first year we came out on top.

“North Carolina is proud of its economic success that continues to garner national recognition like being CNBC’s Best State for Business,” said NC Commerce Secretary Machelle Baker Sanders. “Last year, we announced more than 24,000 new jobs and investments exceeding $10.1 billion from future-focused companies in fields like biotechnology, computers, and electric vehicles. There are many factors for our success, including our central East Coast location, premier quality of life and low cost of business, but our greatest asset is our diverse and highly-skilled workforce that is supported by our top-rated education system. We will continue to focus on creative partnerships for talent development as we evolve to meet the demands of existing, new, and future employers like Apple, Toyota, and FUJIFILM that call North Carolina home.” 

To determine the ranking of the states, CNBC analyzed 88 metrics across 10 different categories of competitiveness. Each category was then weighted based on how frequently states use them as a selling point in economic development marketing materials (you can read the full methodology here).

While North Carolina came out on top, South Carolina was ranked among the bottom half, coming in at #36 overall.

AMERICA’S TOP STATES FOR BUSINESS 2022

OVERALL RANK STATE WORKFORCE INFRA-STRUCTURE COST OF DOING BUSINESS ECONOMY LIFE, HEALTH & INCLUSION TECHNOLOGY & INNOVATION BUSINESS FRIENDLINESS EDUCATION ACCESS TO CAPITAL COST OF LIVING
1 North Carolina 12 17 26 1 28 5 22 14 2 22
2 Washington 4 29 33 3 6 2 31 17 20 38
3 Virginia 11 9 25 20 13 17 6 2 6 30
4 Colorado 1 16 36 11 12 9 16 11 22 34
5 Texas 2 14 12 8 49 4 34 21 3 14
6 Tennessee 15 8 8 2 42 28 23 11 22 5
7 Nebraska 32 22 16 13 7 24 12 24 32 19
8 Utah 8 32 17 6 29 26 10 41 12 25
9 Minnesota 21 4 41 16 5 6 32 15 13 26
10 Georgia 3 11 38 7 39 12 32 10 13 4
11 Florida 6 13 30 4 39 16 39 19 22 27
12 Iowa 20 37 19 17 10 18 28 24 29 7
13 North Dakota 31 21 21 37 4 35 1 26 34 24
14 Indiana 48 1 2 10 43 23 18 35 13 9
15 Ohio 41 2 4 27 29 11 43 22 3 12
16 Michigan 26 19 9 21 29 15 20 27 11 12
17 Pennsylvania 28 12 22 45 22 7 26 5 9 32
18 Oregon 9 33 34 15 8 13 46 32 26 46
19 Illinois 26 3 31 44 23 8 40 6 8 20
20 Idaho 40 42 15 5 20 34 3 48 34 31
21 Kansas 35 6 6 43 29 38 17 20 19 2
22 South Dakota 43 36 11 12 27 36 8 39 10 29
23 Wisconsin 37 15 13 30 35 19 38 15 32 23
24 Massachusetts 24 31 49 26 13 10 21 1 6 47
25 Missouri 49 10 1 17 46 19 36 27 29 6
26 Kentucky 17 18 6 34 36 22 42 39 38 17
27 Maryland 10 22 44 31 18 14 29 18 13 44
28 Delaware 5 20 37 22 24 32 26 42 13 36
29 California 16 25 48 17 26 1 48 11 1 48
30 Montana 33 45 27 9 24 46 5 33 38 28
31 Vermont 50 22 39 33 1 37 14 8 45 41
32 Wyoming 18 35 23 40 20 40 2 29 45 20
33 Alabama 13 38 24 27 38 21 25 34 34 3
34 Arizona 7 6 35 22 50 29 4 42 41 33
35 New Hampshire 22 47 32 29 15 39 8 6 48 37
36 New York 46 28 42 36 19 2 44 4 5 49
36 South Carolina 29 27 28 13 47 31 23 29 41 18
38 Oklahoma 35 26 2 34 48 30 14 47 22 14
39 Connecticut 14 39 45 47 17 25 11 8 26 43
39 Nevada 29 5 20 25 41 47 7 50 26 35
41 Arkansas 38 30 13 24 37 40 29 37 20 10
42 New Jersey 23 34 43 50 8 27 47 3 13 40
43 Maine 43 49 40 32 2 44 19 23 47 39
44 West Virginia 43 42 10 39 34 49 49 44 38 8
45 Rhode Island 39 44 47 41 16 33 36 29 29 42
46 Hawaii 19 39 50 48 3 40 35 38 49 50
46 New Mexico 25 39 29 42 44 43 44 45 41 11
48 Louisiana 42 48 5 45 45 45 41 35 37 16
49 Alaska 34 50 46 38 11 50 12 49 49 45
50 Mississippi 47 46 17 49 33 48 50

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