Popular Searches
CNBC has named North Carolina as America’s Top State for Business in 2025, marking the third time the state has garnered the honor in the last four years. This morning, Governor Josh Stein joined CNBC’s Scott Cohn at Battleship North Carolina in Wilmington for a live broadcast where the winner was revealed.
“This confirms what we have known for a long time – that North Carolina is the best state in the country for business,” said Governor Josh Stein. “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. I want to thank leaders like former Governor Roy Cooper and state legislators of both parties who have helped North Carolina create a welcoming climate. I am proud of the progress our state has made, and we are just getting started.”
“This recognition reflects our relentless commitment to building a competitive, welcoming, and dynamic economy that creates opportunity for everyone,” said N.C. Commerce Secretary Lee Lilley. “From our world-class workforce to our strategic investments in infrastructure, education, and innovation, North Carolina continues to lead the way as a place where businesses thrive, and communities prosper. We share this success with all of our partners across the public and private sectors and look forward to building on this momentum.”
Now in its 19th year, the CNBC study looked at 135 metrics in ten categories of competitiveness, an increase in metrics studied in prior years given today’s economic complexity. These are the factors companies consider year after year when making site selection decisions, and that states pitch in their efforts to attract business. Next, the CNBC team analyzes each state’s economic development marketing pitches to determine the appropriate weight for each category. The more that states are talking about a particular aspect of competitiveness, the more weight it carries in the rankings.
North Carolina ranked in the top five for economy, workforce, and business friendliness, and placed in the top 10 for education and access to capital this year. And of note, the state announced 17,586 jobs in 2024, along with $16.1B in investment.
According to the CNBC data journalist behind the project, Scott Cohn, “In 2025, amid recession fears, more states than ever are touting their economic strengths. That makes Economy this year’s most important category.” He also shared, “Other categories rising in importance this year include Cost of Doing Business and Cost of Living, as inflation fears persist. Business Friendliness carries more weight this year as foreign and domestic companies seek the quickest path to the U.S. market. And Technology and Innovation rises to reflect the growing battle for dominance in fields like AI.”
North Carolina’s economy remains resilient in 2025 due to a combination of strategic geographic positioning, diversified industry sectors, and sustained public and private investment. From advanced manufacturing in automotive and aerospace, to life sciences production, to financial services, the state is adding jobs across a wide range of professional fields and educational levels. The state’s relatively low corporate tax rate, regulatory environment, and incentives for high-growth sectors have also continued to compound in recent years to increase the state’s business friendliness. Ongoing infrastructure investments in highways, broadband, and industrial sites have also boosted resilience and attracted investment even amid national slowdowns.
With a strong reputation as a “purple” state, with broad political representation across the state’s elected leadership, North Carolina is also offering a compelling landing pad for businesses facing strong economic uncertainty as federal policies shift. This diverse political representation has also led to a balanced approach to economic development, with statewide attraction efforts led by a public-private partnership, the Economic Development Partnership of North Carolina (EDPNC).
“North Carolina’s recognition as the best state for business for the third year in the last four is a testament to an economic development strategy that relies on the power of partnerships,” said Christopher Chung, CEO of the EDPNC. “Our strength lies in our ability to connect companies with the workforce, infrastructure, sites, industry ecosystems, and innovation resources needed to support their growth, as well as a business-friendly environment that’s especially valuable in times of economic uncertainty. From one of the nation’s top community college systems and the nation’s oldest public university to our modern transportation networks and robust utility capacity, North Carolina is built for growth.”
Earlier this year, North Carolina swore in a new Governor, Governor Josh Stein, who has maintained extraordinary economic momentum in the state even in the midst of continued recovery from Hurricane Helene. The state has seen record-breaking announcements from companies across industries choosing North Carolina, with more than 23,000 new jobs and $18.9B of investment announced in the state in the first half of the year alone. Companies choosing to expand or relocate to North Carolina have included Genentech, Amazon Web Services, JetZero, and Citigroup Technology, to name a few. JetZero’s selection of the state, announced in June, was the largest job announcement in the state’s history.