North Carolina ranked No. 1 state for business by CNBC in 2024

CHARLOTTE, N.C. — North Carolina has once again claimed the top spot in CNBC’s annual “Top States for Business” rankings, marking the third time in the past four years the state has received the honor.

The 2024 rankings evaluated all 50 states across 10 categories of competitiveness, including Economy, Workforce, and Business Friendliness — areas where North Carolina scored especially high. The Tar Heel State earned 1,614 out of a possible 2,500 points, outperforming all other states in this year’s analysis.

“This confirms what we have known for a long time – that North Carolina is the best state in the country for business,” North Carolina Gov. Josh Stein said. “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.”

The state’s consistent high marks in the CNBC rankings reflect long-term policy efforts and strategic investments in education, infrastructure, and workforce development. Senate Leader Phil Berger (R-Rockingham) credited the General Assembly’s role in the state’s economic transformation.

“Since 2011, the Republican-led General Assembly has reshaped our state’s business climate by slashing our tax rates, reducing regulatory hurdles, and supporting world-class educational and job training programs,” Berger said. “We must double down on our efforts to support business growth and development from Murphy to Manteo.”

Stein emphasized the importance of workforce development, noting the creation of the Council on Workforce and Apprenticeships earlier this year. The bipartisan group is tasked with expanding access to high-paying jobs that don’t require four-year degrees. The governor also signed Senate Bill 124 into law, reducing the number of state jobs that require a college degree.

North Carolina Speaker of the House Destin Hall said this ranking shows the state is on a roll.

“We’ve taken a deliberate approach to fostering a business-friendly environment—grounded in policies that reduce barriers to entry, promote competition, and encourage investment and growth,” Rep. Hall said. “Being ranked number one for business yet again is just the latest example of the successful reforms implemented in North Carolina by the Republican-led General Assembly.”

In addition to economic initiatives, Stein has focused on addressing the state’s child care crisis and enhancing public school safety through newly formed advisory groups. He also continues to prioritize recovery in western North Carolina following Hurricane Helene, including a $55 million investment in the region’s small businesses and tourism promotion.

“This recognition reflects our relentless commitment to building a competitive, welcoming, and dynamic economy that creates opportunity for everyone,” N.C. Commerce Secretary Lee Lilley said.

Christopher Chung, CEO of the Economic Development Partnership of North Carolina, pointed to the state’s collaborative approach as key to its continued success.

“Our strength lies in our ability to connect companies with the workforce, infrastructure, sites, industry ecosystems, and innovation resources needed to support their growth,” Chung said.

Since taking office in January, Gov. Stein has announced business expansions and new projects totaling nearly $17 billion in capital investment and more than 20,000 new jobs.

North Carolina previously ranked No. 1 in 2021 and 2022, No. 2 in 2023 and has remained in the top three since 2019.

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