North Carolina Named CNBC’s Top State for Business for Third Time in Four Years

Source: Melissa Kopka / Getty

North Carolina has once again been recognized as the best state for business by CNBC, earning the top spot in the network’s annual rankings for the third time since 2022. The state previously held the No. 1 ranking in both 2022 and 2023 and was runner-up in 2021 and 2024.

“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. “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.”

North Carolina scored 1,614 out of a possible 2,500 points, standing out in key categories like economy, workforce, infrastructure, and business friendliness. The rankings are based on 10 categories, with weights determined by how states promote themselves to businesses.

In 2023 alone, the state announced 218 business recruitment and expansion projects, expected to create nearly 17,000 new jobs and bring $15.2 billion in capital investment — including $730 million from five major projects in Greenville-Pitt County.

Virginia, last year’s top-ranked state, dropped to its lowest position since 2018.

The full rankings

1. North Carolina

Bodie Island Lighthouse at sunset, Outer Banks, North Carolina color image,photography,horizontal,usa,outdoors,beach,tall – high,building exterior,national park,sunset,brick,tourism,boardwalk,marsh,head,lens – eye,north carolina – us state,lighthouse,outer banks – north carolina,cape hatteras,bank – financial building,nags head,cape hatteras national park,bodie island lighthouse,bodie island,oregon inlet,fresnel lens

2. Texas

Large sign at Texas/New Mexico state line color image,no people,photography,horizontal,usa,red,blue,outdoors,clear sky,sign,texas,houston – texas,gulf coast states,sunny,fort worth,road sign,texas state flag,road trip,welcome sign,white color,san antonio – texas,el paso – texas,driver – occupation,dallas – texas

3. Florida

Miami Beach. Skyline aerial view. Miami city. Tropical coastal Miami scene. Miami district sky view. Famous oceanfront. Panoramic coastline. South beach panorama view color image,no people,photography,horizontal,usa,blue,vacations,outdoors,aerial view,cloud – sky,travel,nautical vessel,tropical climate,city,cityscape,skyscraper,beach,horizon,sky,miami beach,gulf coast states,summer,sea,sand,sunny,american culture,pointing,miami,palm tree,downtown district,coastline,district,waterfront,bay of water,yacht,south,urban skyline,florida – us state,drone,drone point of view,scenics – nature,landscape – scenery

4. Virginia

Flag of the US State of Virginia color image,no people,photography,pattern,horizontal,textile,backgrounds,blue,illustration,pride,outdoors,freedom,travel,sign,north america,unity,texas,history,politics,government,sky,flag,textured,national landmark,american culture,digitally generated image,argentina,american flag,patriotism,symbol,abstract,the americas,richmond – virginia,concepts,computer graphic,politics and government,southern usa,us state flag,material,insignia,us state,virginia – us state,independence – concept

5. Ohio

Scioto River – Downtown Columbus Ohio Skyline – Day color image,no people,photography,horizontal,usa,blue,ohio,outdoors,water,business,day,corporate business,aerial view,travel,high angle view,city,cityscape,travel destinations,skyscraper,reflection,modern,street,architecture,sky,building exterior,national landmark,illuminated,river,tower,overcast,city street,sunset,famous place,downtown district,columbus – ohio,public building,twilight,midwest usa,riverbank,scioto river,urban skyline,drone,office building exterior,business finance and industry,bridge – built structure,drone point of view,scenics – nature

6. Michigan

Digitally Generated Image , 3D rendered color image,no people,photography,horizontal,usa,planet – space,illustration,education,travel,sign,city,unity,politics,geographical border,michigan,flag,cut out,american culture,digitally generated image,capital cities,cartoon,patriotism,discovery,symbol,design,abstract,global business,global,direction,shape,map,land,computer graphic,national flag,physical geography,outline,politics and government,us state flag,cartography,us state,infographic,country – geographic area,us state border,topography,continent – geographic area,michigan state flag,demography

7. Georgia

Travel Destination color image,no people,photography,horizontal,usa,success,finance,outdoors,business,technology,day,corporate business,travel,clear sky,construction industry,city,cityscape,travel destinations,skyscraper,sunlight,modern,built structure,architecture,building exterior,lawn,sunny,innovation,georgia – us state,tower,city street,city life,capital cities,futuristic,famous place,telecommunications equipment,downtown district,global,tourism,financial district,fountain,local landmark,ferris wheel,centennial park – atlanta,commercial activity,architectural feature,amusement park ride,financial building,urban skyline,office building exterior,stock market and exchange,business finance and industry,finance and economy,atlanta – georgia,public park,olympic park – venue

8. Tennessee

Photo taken in Nashville, United States communication,color image,photography,people,horizontal,usa,music,motion,outdoors,real people,sign,city,night,text,street,built structure,architecture,large group of people,building exterior,store,western script,illuminated,nightlife,city street,mixed age range,tennessee,nashville,lighting equipment,commercial sign,crowd of people,neon lighting

9. Indiana

INDIANAPOLIS, IN – JULY 13: Indiana Fever guard Caitlin Clark (22) stands on the center court logo and waits for play to resume during a game against the Dallas Wings on July 13, 2025, at Gainbridge Fieldhouse in Indianapolis, Indiana. (Photo by Brian Spurlock/Icon Sportswire via Getty Images) color image,photography,people,one person,horizontal,usa,sport,waiting,match – sport,logo,sports activity,wnba,women’s basketball,indianapolis,bankers life fieldhouse,indiana,center court,dallas wings – basketball team,indiana fever – basketball team,caitlin clark

10. Minnesota

Flag of the US State of Minnesota color image,no people,photography,pattern,horizontal,textile,backgrounds,blue,illustration,pride,outdoors,freedom,travel,sign,north america,unity,texas,history,politics,government,sky,flag,textured,national landmark,american culture,digitally generated image,argentina,american flag,patriotism,minnesota,minneapolis,symbol,abstract,the americas,concepts,computer graphic,politics and government,minnesota state fair,us state flag,material,insignia,us state,minnesota state capitol,independence – concept,minnesota state flag