Virginia ranks No. 2 this year on CNBC’s list of America’s Best States for Business, just behind North Carolina, and up from No. 3 on last year’s list.
Virginia has ranked No. 1 five times since CNBC launched the annual rankings in 2007, more than any other state. The last year Virginia topped the list was in 2021 (CNBC did not publish the list in 2020 because of the pandemic).
While Virginia was this year’s runner-up, it did finish No. 1 for education, for what CNBC calls strong support for K-12 and postsecondary schools. The state did, however, get dinged for high costs.
Virginia also ranked in the top 10 for other categories, including workforce, infrastructure, business friendliness and access to capital.
CNBC’s annual list scores all 50 states on a total of 86 metrics in 10 broad categories, which make states competitive.
Maryland appeared almost halfway down the list at No. 28, with poor scores for the cost of doing business.
In ranking North Carolina No. 1 for a second consecutive year, CNBC notes the state has amassed a trophy case full of economic development wins from companies locating or expanding operations in the state, including a $1 billion facility in Research Triangle Park that Apple will start construction on soon. North Carolina is also a leader in attracting and retaining talent across a range of industries, CNBC said.
The five top rankings for CNBC’s list of America’s Best States for Business in 2023 are:
- North Carolina
- Virginia
- Tennessee
- Georgia
- Minnesota
Alaska ranked at the bottom of this year’s list.
You can check out CNBC’s full America’s Top States for Business 2023 online, including scores in individual categories.
