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 |