CNBC has named North Carolina as America’s Top State for Business for the second year in a row. Governor Roy Cooper joined CNBC’s Scott Cohn at the Biltmore Estate in Asheville for a live broadcast where the winner was revealed during the network’s morning program on July 11, 2023.
“When we invest in our people, we invest in the foundation of our success,” said Governor Cooper. “Thanks to our well-trained, dedicated and diverse workforce, North Carolina has been named the top state for business for the second year in a row and it’s important for us to invest in the education and well being of our people to continue our amazing success.”
The CNBC study looks at 86 metrics in ten categories of competitiveness. According to the report, “North Carolina tops CNBC’s state business competitiveness rankings for the second year in a row as workers flock to take advantage of a booming economy and the growing operations of companies including Apple within the state.”
North Carolina ranked #1 in workforce and highly in the economy, technology and innovation, and access to capital categories. North Carolina’s top placement this year marks only the second time in the ranking’s history that a state has received the top spot two years in a row. Since 2017, North Carolina has placed in the top five of state rankings four times.
“After another record-breaking year for economic development wins, I am more than proud to see the great state of North Carolina recognized as the best state in the nation for business yet again,” said N.C. Commerce Secretary Machelle Baker Sanders. “Last year’s performance includes nearly 29,000 new jobs and $19.3 billion in investments – the result of collaborative leadership and hard work. My team and I are proud to have launched the state’s ‘First In Talent’ strategic economic development plan, intentionally incorporating diversity, equity, and inclusion practices that have facilitated booming economic opportunities for all North Carolinians.”
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. This year, North Carolina also won Area Development magazine’s 2023 Platinum Shovel Award which recognizes states that went above and beyond the gold standard for investment and job creation and received Business Facilities magazine’s State of the Year award after a historic year of economic development and job growth.
The CNBC study measures all 50 states across 10 categories of competitiveness, for a total of 2,500 possible points. North Carolina scored 1,628 points to capture this year’s crown. The network’s methodology assigns a weight to each category based on how frequently states cite it as a selling point.
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