te of North Carolina is ranked the fifth best state for business according to CNBC’s annual “Countdown to America’s Top State for Business” feature. North Carolina has been a perennial favorite on the list each year. This is the state’s highest ranking since 2011.
In its ranking the network stated that “North Carolina posted some powerful numbers, having the fourth-best economy as well as workforce.” It went on to say that the ranking was “due in part to some substantial fiscal policy changes that have been made, such as a reduction in individual income and corporate tax.”
N.C. Commerce Secretary Sharon Decker welcomed the new ranking.
“The Carolina comeback is well underway as we jumped into the top five spot,” said Secretary Decker. “Just know we won’t rest, there is more work ahead of us as we strive to land big economic development projects that create jobs.”
CNBC has been ranking the best and worst states for business each year since 2007. CNBC scores all 50 states in 10 categories of competitiveness. CNBC used 51 individual metrics, or criteria, to calculate the states’ category scores. Those categories include: Cost of Doing Business, Economy, Infrastructure & Transportation, Workforce, Quality of Life, Technology & Innovation, Business Friendliness, Education, Cost of Living and Access to Capital.
Source: CNBC “Countdown to America’s Top State For Business” June 24, 2014