North Carolina ranked No. 5 Top State for Business
North Carolina ranked fifth in CNBC's annual America's Top States for Business study, up from 12th last year.
The study used 56 metrics separated into 10 broad categories to gauge performance. The Tar Heel state earned high marks for the quality of its workforce and strength of its economy, but achieved lower scores in education and quality of life.
Categories are weighted based on criteria states use to market themselves for economic development. North Carolina earned 1,569 out of a possible 2,500 points in the study.
Cost of doing business, which was determined by factors including taxes, utility costs and rental costs for office and commercial space, was given the most weight. Access to capital carried the least weight.
Georgia ranked at the top of the list, followed by Texas, Utah and Nebraska.
Here are the results for North Carolina:
|23||Cost of Doing Business|
|34||Quality of Life|
|21||Infrastructure & Transportation|
|12||Technology & Innovation|
|17||Access to Capital|
|14||Cost of Living|