North Carolina is America's Top State for Business, According to CNBC Exclusive Study

CNBC

10-07-2025

ENGLEWOOD CLIFFS, N.J., July 10, 2025—CNBC, First in Business Worldwide, today unveiled the results of the 2025 America's Top States for Business, with North Carolina taking the number one position.
CNBC Special Correspondent Scott Cohn reported today live from the historic Battleship North Carolina in Wilmington, and counted down the top five states during CNBC's "Squawk Box" (M-F, 6AM-9AM ET) and on CNBC Digital. Coverage of America's Top States for Business will continue on-air and online through CNBC's Business Day programming today.
The Tar Heel State was runner-up in 2021 before being crowned number one in 2022 and 2023, and it narrowly missed first place last year, when neighboring Virginia claimed the top spot. North Carolina had a well-rounded performance in 2025, finishing in the top five in Economy, Workforce, and Business Friendliness, and ranking 6th in Education. That momentum is being fueled by a wave of high-impact investments, including JetZero's decision to build its first factory in Greensboro, which is expected to create 14,500 jobs, and Amazon's $10 billion expansion of its data center footprint in the state. These moves build on the continued growth of North Carolina's life sciences and clean energy sectors, which are helping to anchor the state's long-term economic strength. However, with a lack of basic worker protections, the state ranks 29th in Quality of Life, and its rapid growth is driving up costs.
"North Carolina has been on a roll for years now," Cohn said. "With its world-class workforce, a solid economy, and a heritage of innovation, North Carolina keeps winning business, and keeps winning our rankings."
"The state faces some formidable challenges right now, including the recovery from Hurricane Helene last fall. But if any state can do it, this one can," he added.
CNBC Digital offers a detailed analysis of how North Carolina claimed the number one position, including a complete economic snapshot (employment, budget, tax, and housing data). The rankings for all 50 states are available at topstates.cnbc.com.
Follow @CNBC and take part in the social conversation surrounding CNBC's Top States coverage using the hashtag #TopStates.
CNBC's exclusive study scores all 50 states on 135 metrics across ten categories of competitiveness. The methodology grades the states based on factors companies consider each year when making site selection decisions, and the states pitch in their efforts to win business. Then, the economic development marketing pitches of every state are analyzed to determine the appropriate weight for each category. The more weight a category carries, the more metrics it includes.
America's Top 5 States for Business:
1. North Carolina
2. Texas
3. Florida
4. Virginia
5. Ohio