CNBC Names North Carolina the #1 State for Business

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. “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.”

“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. “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."

“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. "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.”

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 strengths this year are Economy, Workforce, and Business Friendliness.

Since taking office in 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.

Governor Stein believes that North Carolinians should not have to get a traditional four-year degree to get a good job that can support a family. In March, he signed an executive order creating the Council on Workforce and Apprenticeships, a bipartisan group directed to find strategies to strengthen North Carolina’s workforce development and expand access to good jobs with good wages. The council recently released its first report, which outlines 11 goals to ensure more people have the skills to build strong careers and bright futures in a changing economy. Governor Stein recently signed into law Senate Bill 124, which reduces the number of state government jobs that require a four-year college degree.

To combat North Carolina’s child care crisis, the Governor launched his Task Force on Child Care and Early Education, which seeks to make high-quality child care more accessible, affordable, and sustainable. Governor Stein also established the Advisory Council on Student Safety and Well-Being to ensure that the state’s public schools support students’ learning growth and foster an engaging environment.

Nine months after Hurricane Helene, Governor Stein remains committed to the economic recovery efforts in western North Carolina. He recently announced the "Rediscover the Unforgettable” tourism initiative in collaboration with Visit NC to encourage travelers to plan their next trips to western North Carolina. In partnership with the Dogwood Health Trust and the Duke Endowment, Governor Stein and the State of North Carolina invested in the Western North Carolina Small Business Initiative. The $55 million program provided grants to more than 2,000 businesses across the region. This week, Governor Stein visited the Town of Clyde to award one of the first grants from the Small Business Infrastructure Grant Program, which is helping local governments rebuild public infrastructure such as sidewalks and downtown parking. Governor Stein continues to urge people to visit western North Carolina and support its small businesses.

Click here to read CNBC’s report.