CNBC announced its annual report, “America’s Top States for Business 2023” based on the review of 86 metrics in 10 broad categories of competitiveness. The categories are weighted on the frequency they are mentioned as a selling point in economic development marketing materials.
Using their own methodology to assess a state’s performance, each state can earn up to 2500 points to achieve their final ranking.
The ten categories are: Workforce, Infrastructure, Economy, Life, Health & Inclusion, Cost of Doing Business, Tech & Innovation, Business Friendliness & Innovation.
The Top 10 States for Business in 2023 in Overall rank order are:
- North Carolina
- Virginia
- Tennessee,
- Georgia,
- Minnesota,
- Texas
- Washington
- Florida
- Utah
- Michigan
The states ranked first by Category are:
- Workforce: North Carolina
- Infrastructure: Georgia
- Economy: Florida
- Life, Health & Wellness: Vermont
- Cost of Doing business: West Virginia
- Tech & Innovation: Massachusetts & California (tied)
- Business Friendliness: North Dakota
- Education: Virginia
- Access to Capital: Texas
- Cost of Living: Iowa
The top 10 states for Tech & Innovation are:
- California & Massachusetts (tied)
- Washington
- Minnesota
- New York
- North Carolina
- Maryland
- Texas
- Oregon
- Colorado
