CNBC Ranks North Carolina Top State for Business

For the second consecutive year, business news channel CNBC has ranked North Carolina the top state for business, based on a host of key metrics.

North Carolina ranked number one in workforce – the most important category in this year’s study – as educated workers are flocking to the state and worker training programs are rated among the best in the country. North Carolina also boasted the third-best economy with solid growth, stable state finances and a healthy housing market.

“Companies in desperate need of skilled workers are going where the people are, and people are going to North Carolina,” CNBC special correspondent Scott Cohn said. “The state’s well-balanced economy is handling the growth well. Rising political tensions could create issues down the road, but for now, North Carolina seems to have the winning formula—for the second year in a row.”

All 50 States Scored on 86 Metrics

CNBC’s study scores all 50 states on 86 metrics across 10 categories of competitiveness. The methodology grades the states based on factors companies consider each year when making site selection decisions, and that states pitch in their efforts to win business.

Here’s where North Carolina ranks in each category for 2023:

Overall: 1

Workforce: 1

Infrastructure: 16

Economy: 3

Life, Health & Inclusion: 34

Cost of Doing Business: 18

Tech & Innovation: 6

Business Friendliness: 10

Education: 7

Access to Capital: 6

Cost of Living: 27

North Carolina Claims Other Top Business Awards

Earlier this year, North Carolina also won Site Selection magazine’s Prosperity Cup for the third year in a row, which recognizes the competitiveness of state-level economic development agencies and their success in landing capital investment projects.

In June, North Carolina won for the second consecutive year Area Development magazine’s 2023 Platinum Shovel Award that recognizes states that went above and beyond the gold standard for investment and job creation. Business Facilities magazine named North Carolina its State of the Year for economic development and job growth.