Low business costs and an educated workforce has propelled North Carolina to the top of Forbes‘ list of Best States for Business in 2017.
The annual ratings by Forbes examine states’ business costs, labor supply, regulatory environment, economic climate, growth prospects, and quality of life to produce the comparisons. North Carolina is the only state to rank among the top 20 states in all six categories.
“An improved employment outlook and the second lowest business costs (labor, energy, and taxes) have propelled North Carolina to first in our annual ranking, a spot previously only attained by Utah and Virginia since we launched the list in 2006,” wrote Forbes’ staff writer Kurt Badenhausen.
The state has ranked among the magazine’s top five for 12 straight years but is ranked in the top spot for the first time.
“Today’s #1 ranking @Forbes 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,” North Carolina House Speaker Tim Moore wrote on Twitter.
Today’s #1 ranking @Forbes 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. https://t.co/FuzCBvCh2Q
— Speaker Tim Moore (@NCHouseSpeaker) November 28, 2017
Senator Thom Tillis also took to Twitter Tuesday morning after the rankings were released.
“#TaxReform in North Carolina worked. We’re now the #1 state in the country for business,” he wrote.
— Senator Thom Tillis (@SenThomTillis) November 28, 2017
The top 10 includes:
- North Carolina
- North Dakota
West Virginia, Alaska, and Vermont were ranked the worst states for business.
See the entire list here.