New York – North Carolina has been named America’s most competitive state for business in 2025, topping CNBC’s annual Top States for Business rankings. The study, now in its 19th year, evaluated all 50 U.S. states using 135 metrics across 10 categories, including economy, infrastructure, workforce, cost of doing business, and access to capital.
This year’s rankings reflect deep shifts in the U.S. business climate, including new concerns over trade war vulnerabilities and federal budget tightening. North Carolina scored high in workforce quality (rank 4), tech & innovation (13), and access to capital (8), contributing to its top overall position.
Texas and Florida ranked second and third, respectively. Texas retained its dominance in infrastructure and workforce, while Florida’s strong economy and innovation profile helped it secure a top-three spot despite low scores in cost of living and quality of life.
Notably, the study introduced new metrics to assess states’ exposure to macroeconomic risks such as federal spending cuts and global trade disruptions. These considerations are becoming increasingly relevant for business leaders evaluating long-term operational resilience and growth environments.
“North Carolina’s consistent investments in talent development and technology readiness are paying off,” said CNBC senior editor Scott Cohn. “In a year where economic certainty is harder to come by, it stands out for balance and preparedness.”
Ohio, Michigan, and Georgia also made it into the top 10, driven by improvements in infrastructure and innovation ecosystems. Meanwhile, traditionally strong performers like California and New York slipped in the rankings due to high business costs and challenges in workforce sustainability.
At the bottom of the list, Alaska ranked 50th, held back by its isolated geography, declining economic indicators, and limited access to capital markets. Hawaii, Montana, and Mississippi also remained in the lowest-performing tier.
With states increasingly competing to attract investment, CNBC’s methodology considers how often these metrics are used in each state’s economic development materials—this year giving more weight to economic performance as a top priority.
The report paints a clear picture: in 2025, adaptability, workforce quality, and tech-readiness are the defining features of business competitiveness across the U.S.
