Forbes has just released their ranking of “The Best States For Business 2018” and the Tar Heel state landed on top…for the second year in a row.
To determine the ranking, Forbes crunched the numbers on 41 metrics across six main categories, including; business costs, regulatory environment, economic climate, growth prospects, and overall quality of life. North Carolina was the only state in the nation to rank in the top 12 in all 6 categories (click here for their full methodology).
Some of the most significant factors in our #1 ranking included our state’s labor, energy and tax costs being the second lowest in the country, and our 3% corporate tax rate, which is currently the lowest in the country.
We also feature one of the highest educated labor supplies in the country, with a steady supply of graduates from 53 colleges and universities, including top-ranked Duke University, UNCC, and Davidson.
Here is the top 10 list of the best states in America for business, along with their ranking in each of the 6 major categories:
| Rank | State | Business Costs Rank |
Labor Supply Rank |
Regulatory Environment Rank |
Economic Climate Rank |
Growth Prospects Rank |
Quality of Life Rank |
Population | |
|---|---|---|---|---|---|---|---|---|---|
 |
#1 | North Carolina | 2 | 11 | 8 | 12 | 10 | 12 | 10,273,400 |
 |
#2 | Utah | 22 | 2 | 4 | 8 | 5 | 17 | 3,101,800 |
 |
#3 | Texas | 3 | 13 | 25 | 3 | 1 | 9 | 28,304,600 |
 |
#4 | Virginia | 28 | 3 | 1 | 27 | 16 | 1 | 8,470,000 |
 |
#5 | Nebraska | 8 | 19 | 2 | 20 | 19 | 11 | 1,920,100 |
 |
#6 | Georgia | 20 | 14 | 7 | 5 | 9 | 24 | 10,429,400 |
 |
#7 | Florida | 35 | 14 | 9 | 4 | 2 | 13 | 20,984,400 |
 |
#8 | Colorado | 40 | 1 | 21 | 2 | 7 | 21 | 5,607,200 |
 |
#9 | Washington | 21 | 4 | 31 | 6 | 3 | 32 | 7,405,700 |
 |
#10 | Minnesota | 38 | 7 | 19 | 11 | 20 | 3 | 5,576,600 |
North Carolina’s future is also looking very promising – our population is growing at twice the national average, and our job growth and GSP growth is expected to rank among the best in the nation over the next 5 years.
What are your thoughts on North Carolina’s business climate in 2018 and beyond?
