North Carolina ranked No. 1 State for business; Stein visits Wilmington

WILMINGTON, NC (WWAY)– North Carolina is the top state for business in 2025, according to CNBC’s annual rankings.

Gov. Josh Stein visited Wilmington on Thursday to highlight the recognition and discuss the Cape Fear region’s role in the state’s economy.

“Wilmington, the Cape Fear region is a critical part of North Carolina’s economy,” Stein said during a media event at the Cotton Exchange. “We have PPD Thermo Fisher, we have the film industry, we have the ports… tourism — there’s a lot that’s going on in North Carolina and you just need to walk down the streets — the dynamism that is here.”

North Carolina earned the No. 1 spot in CNBC’s rankings for the third time in four years. The network scored each state on 10 categories, including economy, infrastructure, and workforce. North Carolina finished third in the economy category and fourth in business friendliness. The state added more than 60,000 jobs last year, according to the report.

Stein said since taking office in January, his administration has announced more than $20 billion in new investment and 23,000 jobs across the state.

Local business owners say foot traffic and tourism continue to support downtown Wilmington. Hunter Ford, co-owner of Momentum Distillery in the Cotton Exchange, said location plays a key role in growth.

“WDI downtown is really active in trying to recruit businesses and make sure we’ve got a steady flow of traffic coming through to support the businesses,” Ford said.

He said Wilmington’s tourism season extends beyond the summer.

“With our state being a wedding destination — the Port City being a wedding destination — we get our summer travelers but we get a really extended spring and fall and that’s great for business,” Ford said.

Ford said smaller spaces downtown can be limited. He said the Cotton Exchange helps entrepreneurs get started.

“There’s not a lot of small spaces downtown,” Ford said. “One of the things that the Cotton Exchange really helps with small businesses is being that incubator — so you can get started, make sure that you are in the business you want to be in, and then grow outwards.”

North Carolina ranked lowest in CNBC’s “Quality of Life” category, finishing 29th out of 50 states.

Stein’s office said efforts are ongoing to improve conditions for families, workers, and businesses across the state.