Virginia has once again been ranked as the top U.S. state for business, according to CNBC's annual ranking [63a6abf2]. This is the third time in five years and the sixth time overall that Virginia has earned this distinction [63a6abf2]. The ranking takes into account 128 metrics in 10 categories of competitiveness, including schools, infrastructure, workforce, economy, and cost of doing business [63a6abf2].
Virginia's public education system is considered the best in the country, contributing to its high ranking [63a6abf2]. The state is also a leader in linking businesses with shovel-ready sites, making it an attractive location for companies [63a6abf2]. Additionally, Virginia boasts high accessibility, with 121 million people within a day's drive, and a large concentration of data centers in Northern Virginia [63a6abf2].
North Carolina, which held the top spot in CNBC's ranking last year, has fallen to second place [ffe54bf0]. The change in ranking is due to a change in methodology, with the weighting of the infrastructure variable increased [ffe54bf0]. North Carolina's challenges in infrastructure, such as repair and maintenance of water and sewer systems, have been acknowledged, but the state has taken steps to address them [ffe54bf0]. In terms of traffic congestion, North Carolina metros, including Charlotte, Raleigh, and Greensboro, fare better than many of their peers [ffe54bf0].
Georgia ranks fourth overall among the top states to do business in the United States, according to a survey by CNBC [ac03b45c]. Georgia performs well in categories such as infrastructure (first), quality of the workforce (fourth), and the economy (seventh) [ac03b45c]. However, the state performs poorly in quality-of-life measures (40th among all states) [ac03b45c]. The CNBC study shows that being business-friendly is not solely determined by politics, as states that voted for both Joe Biden and Donald Trump are among the top ten states [ac03b45c]. Tax incentives, lax regulations, and financial arrangements are not always the deciding factors for businesses when choosing a location [ac03b45c]. Georgia Secretary of State Brad Raffensperger has made the ease of doing business a priority for his tenure in office, which could help his quest for the governor's office [ac03b45c].
The runner-up in the CNBC ranking was North Carolina, followed by Texas and Florida [63a6abf2]. On the other hand, Hawaii, Mississippi, Alaska, Louisiana, and Montana were ranked as the worst states for business [63a6abf2].
The challenges faced by growing states like North Carolina are not unique, and states experiencing stagnant growth are trying to figure out how to acquire North Carolina's problems [ffe54bf0]. Overall, the article suggests that the ranking change is not a major concern and that the state's challenges are manageable [ffe54bf0].