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North Carolina Named Best State for Business Again

North Carolina Skyline Business Growth

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News Summary

North Carolina has reclaimed the title of the best state for business, according to CNBC’s latest rankings, marking its third win in four years. The state impressed with its solid performance across various categories, securing notable spots in economy, workforce, and business friendliness. Recent economic developments, including significant job creation and major investments from companies like JetZero and Amazon, have bolstered North Carolina’s position. However, challenges remain, such as recovery from natural disasters and concerns over healthcare policies. The state’s commitment to innovation and maintaining a favorable business climate continues to attract investment.

North Carolina has reclaimed its title as the best state for business according to CNBC’s 2025 rankings, marking an impressive achievement for the state as it secures the top position for the third time in four years. This revival comes after North Carolina was ranked No. 2 in 2024, having previously held the top spot in 2022 and 2023. The recent ranking is particularly significant, as it represents only the second instance since 2007 where the state has successfully achieved back-to-back top rankings.

To compile its rankings, CNBC evaluates states based on a study consisting of 135 metrics across 10 categories of competitiveness. This structured assessment not only highlights the state’s strengths but also serves as a vital marketing tool for North Carolina’s economic development officials. The latest ranking indicates a well-rounded performance with 3rd place in the Economy category, 4th in Workforce and Business Friendliness, and 6th in Education. However, the state did receive a 29th place ranking in Quality of Life, primarily due to a perceived lack of basic worker protections and low levels of unionization.

Several significant economic announcements have reinforced North Carolina’s strong business environment. JetZero has plans to establish a factory in Greensboro, which is anticipated to generate 14,500 jobs. Additionally, Amazon is committing to invest $10 billion in new data centers in Richmond County, building upon its substantial previous investment of $12 billion in the state since 2010.

In the latest CNBC rankings, North Carolina achieved a score of 1,614 out of 2,500 possible points. Its economic growth has been robust, with a 3.7% GDP growth over the past year, marking the fifth-strongest performance in the nation. Furthermore, the state added over 60,000 jobs in the past year, reflecting a healthy and dynamic job market. North Carolina also ranks 3rd in net migration of college-educated workers, placing it just behind Florida and Maine.

Despite notable political divisions elsewhere, legislators from both parties in North Carolina continue to prioritize fostering a business-friendly environment. This consensus is evident in the state ranking 4th for Business Friendliness and offering the 3rd-lowest tort liability costs in the country. Governor Josh Stein emphasized ongoing efforts to connect businesses with essential resources and reiterated the importance of maintaining a skilled workforce.

However, North Carolina also faces significant challenges. The state is still recovering from the impacts of Hurricane Helene, dealing with concerns over potential Medicaid cuts, and navigating the complexities of shifting trade policies. Virginia, which once posed a close competition for the top spot, has seen a decline, falling to 4th place due to its reliance on federal government budgets. Other states in the top five business rankings include Texas, Florida, and Ohio, with Ohio recognized for its top ranking in Infrastructure.

Overall, North Carolina’s high ranking is attributed to a combination of strategic investments in infrastructure and education, as well as a steadfast commitment to innovation. The government has opted to refrain from raising taxes, maintaining a low corporate tax rate even amidst fiscal uncertainties. Economic leaders in the state assert that the favorable CNBC rankings play a crucial role in shaping potential employer decisions regarding business relocations or expansions, enhancing North Carolina’s appeal as a destination for corporate investments.