North Carolina has been recognized as the Top State for Business by CNBC. This announcement marks the third time in the last four years that the state has earned the ranking. 

"This confirms what we have known for a long time – that North Carolina is the best state in the country for business,” said Governor Josh Stein in a press release. “Our people, state’s business climate, top research universities and excellent community college system, infrastructure, and high quality of life help both companies and workers thrive. I want to thank leaders like former Governor Roy Cooper and state legislators of both parties who have helped North Carolina create a welcoming climate. I am proud of the progress our state has made, and we are just getting started.” 

The CNBC study measures states across 10 categories of competitiveness. Weights are assigned to each category based on how frequently states cite it as a selling point. States can earn a maximum of 2,500 points, and North Carolina scored 1,614 to take the top spot. North Carolina has been the stop state for business for three out of the last four years, and the state’s biggest strength categories this year are Economy, Workforce, and Business Friendliness.  

These are the factors companies consider year after year when making site selection decisions, and that states pitch in their efforts to attract business. Next, the CNBC team analyzes each state’s economic development marketing pitches to determine the appropriate weight for each category. The more that states are talking about a particular aspect of competitiveness, the more weight it carries in the rankings.

“This recognition reflects our relentless commitment to building a competitive, welcoming, and dynamic economy that creates opportunity for everyone,” said N.C. Commerce Secretary Lee Lilley in a press release. “From our world-class workforce to our strategic investments in infrastructure, education and innovation, North Carolina continues to lead the way as a place where businesses thrive, and communities prosper. We share this success with all of our partners across the public and private sectors and look forward to building on this momentum." 

Now in its 19th year, the CNBC study looked at 135 metrics in ten categories of competitiveness, an increase in metrics studied in prior years given today’s economic complexity. 

“North Carolina’s recognition as the best state for business for the third year in the last four is a testament to an economic development strategy that relies on the power of partnerships,” said Christopher Chung, CEO of the EDPNC in a press release. "Our strength lies in our ability to connect companies with the workforce, infrastructure, sites, industry ecosystems, and innovation resources needed to support their growth, as well as a business-friendly environment that’s especially valuable in times of economic uncertainty. From one of the nation’s top community college systems and the nation’s oldest public university to our modern transportation networks and robust utility capacity, North Carolina is built for growth.” 

Since January, Governor Stein has announced business expansions or new projects that will yield nearly $17 billion of new capital investment in North Carolina and create more than 20,000 new, good-paying jobs. North Carolina is a leader in the clean energy economy, with more than 100,000 people employed in the sector.  And of note, the state announced 17,586 jobs in 2024, along with $16.1B in investment.