States are ranked across 10 categories, including workforce, infrastructure, economy, cost of doing business, and technology/innovation.
“Each category is weighted based on how frequently states use them as a selling point in economic development marketing materials,” according to CNBC. “That way, our study ranks the states based on the attributes they use to sell themselves.”
Here are the top (and bottom) states for doing business in 2023, according to the ranking:
1. North Carolina
2. Virginia
3. Tennessee
4. Georgia
5. Minnesota
6. Texas
7. Washington
8. Florida
9. Utah
10. Michigan
11. Colorado
12. Ohio
13. Indiana
14. Arizona
15 (tie). Massachusetts
15 (tie). Pennsylvania
17. Illinois
18. Delaware
19. New Jersey
20. New York
21. Oregon
22. Maryland
23 (tie). Iowa
23 (tie). Kansas
25. California
26. Idaho
27. South Carolina
28. Nebraska
29. Vermont
30. Nevada
31. Connecticut
32. Missouri
33. Wisconsin
34. South Dakota
35. Montana
36. North Dakota
37. Wyoming
38. Kentucky
39. Maine
40. New Hampshire
41. Oklahoma
42. Alabama
43. New Mexico
44. Arkansas
45. Rhode Island
46. West Virginia
47. Hawaii
48. Mississippi
49. Louisiana
50. Alaska
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