(This story was updated to add new information.)
North Carolina has regained the top ranking as the best state for business.
The Tar Heel State received top honors in the annual CNBC rankings thanks to "a solid economy, a world-class workforce, and a wealth of corporate hospitality" according to a story from the network.
NASCAR driver and North Carolina resident Brad Keselowski was given the opportunity to make the announcement on CNBC show "Squawk Box" on Thursday, July 10. The show aired from Wilmington at Battleship North Carolina with Gov. Josh Stein in attendance.
North Carolina finished first in 2022 and 2023 while coming in second in 2021 and 2024.
In categories for this year's results, it finished third for economy and fourth for workforce and business friendliness. The state also ranked sixth in education and eighth in access to capital.
CNBC noted several major businesses coming to the state, including JetZero and more Amazon centers. One of those centers is coming to the Wilmington area as local leaders celebrated a groundbreaking for a fulfillment center in March.
"This confirms what we have known for a long time – that North Carolina is the best state in the country for business," said Stein in a news release. "Our people, state’s business climate, top research universities and excellent community college system, infrastructure, and high quality of life help both companies and workers thrive."
Stein has announced business expansions that will yield nearly $17 billion of new capital investment across the state, according to the release. The investments have created 20,000 new jobs. North Carolina is a leader in clean energy, with more than 100,000 people employed in the sector.
Stein has also worked expand access to jobs. He recently signed Senate Bill 124 into law, reducing the number of state government jobs that require a college degree. In March, he signed an executive order creating the Council on Workforce and Apprenticeships, a bipartisan group tasked with strengthening the state's workforce development.
"This recognition reflects our relentless commitment to building a competitive, welcoming and dynamic economy that creates opportunity for everyone," N.C. Commerce Secretary Lee Lilley said in the release. "From our world-class workforce to our strategic investments in infrastructure, education, and innovation, North Carolina continues to lead the way as a place where businesses thrive, and communities prosper."
Stein visited the Cotton Exchange in downtown Wilmington to celebrate the ranking. Stein said that investing in the public school system and raising teacher wages is the first step in bolstering the state's economy.
"We really have the ability to offer to businesses everything they need," Stein said. "They can come here and know that they have the scientists and engineers to design their products and the workforce to build them."
Stein said that Wilmington is a critical part of the state's economy. He listed PPD (now owned by Thermo Fisher Scientific), the film industry, tourism and the city's port among the major drivers of economic growth in the Cape Fear region. Stein encouraged people to visit Western North Carolina, where businesses need support after the devastation of Hurricane Helene.
Financing accessible child care is another key facet of economic growth, Stein said. Stein is proposing child tax credits and has launched the Task Force on Child Care and Early Education to make high quality care more affordable.
Despite ranking first overall for business, the state ranked 29th for quality of life in the CNBC survey. When asked why North Carolina's friendliness toward businesses does not translate to higher quality of life for workers, Stein said that he did not know the metrics that were used to determine the statistic.
"All I know is that people who move to North Carolina don't move out of North Carolina," Stein said. "That tells me we have a fantastic quality of life. The natural beauty, the outdoor activities, the culture, there's a lot to offer here in North Carolina. We can do better by our workers by helping them earn a better living. So, what we're trying to do is recruit businesses that pay a higher wage."
Daniel Sheehan covers the city of Wilmington and New Hanover County for the StarNews. Reach him at [email protected].