North Carolina named CNBC’s 2022 top state for business

Image of North Carolina State flag.

CNBC ranked North Carolina as America’s Top State for Business in 2022 as the television business network unveiled its state rankings Wednesday.

It marks the first time the state has finished on top but in the past several years, North Carolina has been a mainstay in the top five of the rankings.

“Powered by an economy that has hit its stride, and turbocharged by a long track record of innovation, North Carolina is America’s Top State for Business in 2022,” the network said.

CNBC said the state’s finances are the cornerstone of the nation’s top economy, as measured by the network’s study.

“The state’s credit rating is pristine; its fiscal balance is sound. Economic growth, at 6.7% last year, and job growth at 3.6% were among the strongest in the nation, according to government statistics,” says the network.

CNBC’s methodology scores all 50 states on 88 metrics in 10 broad categories of competitiveness. The categories are weighted based on how frequently states use them as a selling point in economic development marketing materials. Th network says they developed the criteria and metrics in consultation with a diverse array of business and policy experts, and the states.

Among the state’s rankings were: 1st in overall economy, 12th in workforce, 17th in infrastructure, 5th in tech innovation, 14th in education, and 2nd in access to capital.

The rest of the top 10 states were: Washington, Virginia, Colorado, Texas, Tennessee, Nebraska, Utah, Minnesota, and Georgia.

“North Carolina is the best place in America to do business and the main reason is our people,” Gov. Roy Cooper said in a statement touting the announcement. “This is a great honor, and we’re going to continue to work with our state legislature, businesses, education leaders and employees to build the talented workforce and resilient infrastructure needed to support the high paying jobs of the next generation.”

About Matt Mercer 355 Articles
Matt Mercer is the editor in chief of North State Journal