North Carolina is the best state for business (again), CNBC says
Why it matters: A top ranking is a major point of pride for politicians and economic developers, who tout North Carolina's business friendliness when trying to lure new employers, major events and visitors to the state.
North Carolina has claimed the No. 1 spot three of the past four years on the esteemed list. It narrowly lost in 2024 to Virginia, its top rival and neighbor.
Yes, but: Despite threats of tariffs and hurricane recovery, North Carolina made a comeback this year while Virginia slipped to fourth place.
The big picture: Last year's second-best ranking didn't stop North Carolina from attracting a "steady stream" of new business in 2025, from JetZero to Amazon, which CNBC acknowledged in its report.
Just this week, Citigroup and AssetMark announced a Charlotte expansion that will create more than 700 total jobs in exchange for millions in incentives.
Last month, the California startup BuildOps announced plans to open a 290-person office in Raleigh in exchange for state and local incentives. Also in June, Amazon disclosed plans to invest $10 billion in building data centers in Richmond County.
How it works: CNBC scores all 50 states across 10 weighted categories for up to 2,500 points. North Carolina tallied 1,614 points this year.
It finished third in CNBC's "all-important" economy category, behind Florida and Texas. The study references the state's 3.7% gross domestic product growth and the addition of more than 60,000 jobs last year.
"While no state is more politically divided than deep purple North Carolina, both parties seem to agree on the importance of keeping business happy," CNBC's report states.
Threat level: CNBC called out North Carolina for being "almost unfailingly friendly to business" but "not terribly friendly to workers."
The state performed its worst ever in the quality of life category, in the No. 29 spot. CNBC cited an "almost complete lack of worker protections" and a lack of laws "protecting nondisabled people from discrimination in public accommodations."
The state's business climate is also highly vulnerable to disasters, tariffs and fallout from Medicaid cuts, CNBC noted.
Hurricane Helene struck too late for the economic impact to be considered in the report, CNBC says.
Zoom out: Virginia dropped to its lowest standing since 2018 due to its "interdependence on the federal government" amid looming budget cuts.
What they're saying: Republican leaders were already celebrating — and taking credit for — the win Thursday morning, soon after the list was released. House Speaker Destin Hall, on X, thanked the GOP-led General Assembly's "successful reforms."
"If you're thinking about moving here, don't forget which party made that prosperity possible," Rep. Brenden Jones wrote on the platform.
Gov. Josh Stein, a Democrat, thanked his predecessor, fellow Democrat Roy Cooper, as well as state lawmakers from both parties "who have helped North Carolina create a welcoming climate."
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