John I. Sanders, Beth Friedrich, Beth Buckner and Mike Zeller co-authored the article: We are Open for Business: North Carolina is Once Again Ranked America’s Number One State for Business (CNBC)
Moore & Van Allen (MVA) Head of International Markets John I. Sanders, Director of Public Affairs Beth Friedrich, Taxation Member Beth Buckner and Head of Global Services Mike Zeller co-authored the article: “We are Open for Business: North Carolina is Once Again Ranked America’s Number One State for Business (CNBC).”
The article
The State of North Carolina has done it again. For the third time over the past five years, North Carolina has been ranked the number one state for business in America by CNBC’s annual “Top State for Business” ranking.[1] “We are open for business,” says North Carolina Governor, Josh Stein, in a wide ranging interview with CNBC reporter, Scott Cohen, set in the Port of Wilmington.[2] “Since January 1, we have announced more than $20 billion worth of investment producing over 23,000 jobs here in North Carolina.[3]”
As we have noted in a previous article, many European companies have established operations in the United States for the first time in recent years. During that time, many of those companies have relocated to or expanded in North Carolina, attracted by the qualities that have made the state the number one state in America to do business.
How does CNBC determine who the Number 1 state for business is in America?
CNBC has been ranking America’s top state for business since 2007. The news site lists ten (10) consistent categories of competitiveness.[4] CNBC adjusts the weighting of these categories every year depending on what topics are important to the states and what matters to business. The categories are ranked in order of importance:
- Economy: measuring economic growth, job growth, the housing market, state finances, and the risk from federal budget cuts and from tariffs.
- Infrastructure: which states have the sites, the roads, the bridges, and electricity.
- Workforce: which states are attracting the best people.
- Cost of doing business
- Business friendliness.
- Quality of life.
- Technology and innovation.
- Education.
- Access to capital.
- The cost of living.[5]
You can find the CNBC score card and ranking for North Carolina here.[6]
In a year where U.S. trade policy under the current administration is designed to encourage greater U.S. production, CNBC also looked at how North Carolina was able to stay so competitive in the face of economic uncertainty, tariffs, uneven growth, and federal budget cuts. Because North Carolina offers an abundance of natural benefits, including excellent infrastructure and a skilled work force, and strong economic incentives, including grants for improvements to real estate, tax exemptions, and employee training, North Carolina has the tools to evolve in a dynamic economy. That is why so many foreign companies are selecting the state for their U.S. operations.
Governor Stein attributed the competitive strength of the state to its citizens. “It’s all about our people,” said Stein. “We have the most talented, good, hard working, friendly people you could possibly know. If you are a biotech, or pharmaceutical or aerospace company, you can come here…we have the engineers and scientists to design your product, but we also have the talented, advanced manufacturing workforce that you need to produce them.[7]”
This article is a summary prepared for the general information of interested persons. It is not, and does not attempt to be, comprehensive in nature. Due to the general nature of its content, it should not be regarded as legal advice with respect to the laws of the State of North Carolina or any other jurisdiction.
For information about the purchase or leasing of commercial real estate by international companies, government incentives for such transactions, or the financing of such transactions, contact the team at Moore & Van Allen PLLC
[1] Cohn, Scott. “America’s Top States for Business 2025: The full rankings.” CNBC, 10 July 10, 2025. Updated 11 July 2025, https://www.cnbc.com/2025/07/10/top-states-for-business-americas-2025-the-full-rankings.html.
[2] Squawk Box. “North Carolina becomes the Top State for Business: Governor Josh Stein explains why.” CNBC, 10 July 2025, https://www.cnbc.com/video/2025/07/10/north-carolina-becomes-the-top-state-for-business-governor-josh-stein-explains-why.html.
[3] Ibid.
[4] Cohn, Scott. “Here’s what goes into CNBC’s Top States for Business.” Squawk Box, CNBC, 9 July 2025, https://www.cnbc.com/video/2025/07/09/heres-what-goes-into-cnbcs-top-states-for-business.html.
[5] Ibid.
[6] CNBC.com staff. “Top States for Business. Number 1. North Carolina.” CNBC, 10 July 2025, https://www.cnbc.com/2025/07/10/north-carolina-top-states-for-business-ranking.html.
[7] Squawk Box. “North Carolina becomes the Top State for Business: Governor Josh Stein explains why.” CNBC, 10 July 2025, https://www.cnbc.com/video/2025/07/10/north-carolina-becomes-the-top-state-for-business-governor-josh-stein-explains-why.html.