Forbes names North Carolina best state for business

Charlotte skyline (Photo: Riction /Wikipedia/MGN)

RALEIGH, NC (WWAY) — After being in the top five for the past 12 straight years, North Carolina has finally come out on top of the Forbes’ Best State for Business list.

According to Forbes, North Carolina has built one of the country’s strongest business climates over the past two decades, fueled by low business costs, incentives and a young, educated workforce, many of whom have been trained at the strong universities in the state and Research Triangle Park. Migration rates into the state are among the highest in the U.S. annually. The Tar Heel State is the only one to rank among the top five for 12 straight years, but it never reached the top rung until now.

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“Today’s #1 ranking reflects the North Carolina House of Representatives’ commitment to permanently improving our state’s tax structure, strengthening our infrastructure, and building a dynamic education system that serves students with a career-ready curriculum,” said North Carolina House Speaker Tim Moore.

North Carolina ranked second last year, but it was threatened by the passage of the controversial “Bathroom Bill” in 2016. That bill was repealed in March.

To come up with the list, Forbes assesses states across six broad categories: business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. North Carolina is the only state to rank among the top 20 states in all six categories.

For a closer look at how the list was created, click here.