Site Selection Magazine Ranks North Carolina as a Top State for Business Climate

GREENVILLE, North Carolina — An internationally circulated business publication covering corporate real estate and economic development has ranked North Carolina and Georgia as the states with the top business climates in the United States. Site Selection magazine ranked the two southeastern states as tied for first place.

“North Carolina is a consistently strong performer in this ranking and has demonstrated once again that it has the business-climate attributes it takes to reach first place,” said Site Selection Editor in Chief Mark Arend.

North Carolina spent six years in the top spot from 2005 through 2010, while Georgia has achieved first place for the eighth consecutive year. The business climates ranking is based in part on a survey of corporate real estate executives and in part on an index of criteria derived from data in the Conway Projects Database.

TOP 10 STATE BUSINESS CLIMATES 2020
(2019 rank in parentheses)

T1. Georgia (1)
T1. North Carolina (2)
3. Ohio (3)
T4. Texas (4)
T4. South Carolina (T5)
6. Virginia (T5)
T7. Alabama (9)
T7. Arizona (11)
9. Kentucky (T14)
10. Tennessee (7)

“I’m thrilled to see that North Carolina is recognized as one of the best states in the nation for business climate,” said Steve Weathers, President and CEO of the Greenville — Eastern North Carolina Alliance. “The climate for business in the Greenville, North Carolina area is consistent with these findings. Our region has a skilled and educated workforce, expedited permitting, competitive utilities rates with excess capacity, and a great quality of life.”

The survey found that workforce skills were the most important criteria to site selectors for the fifth year in a row, with workforce development programs in second. Transportation infrastructure, ease of permitting and regulatory procedures, and state and local taxes complete the top five.

SITE SELECTORS’ TOP LOCATION CRITERIA FOR 2020
(2019 rank in parentheses)

  1. Workforce skills (1)
    2. Workforce development (5)
    3. Transportation infrastructure (2)
    4. Ease of permitting and regulatory procedures (4)
    5. State and local tax scheme (3)
    6. Right-to-work state (8)
    7. Utilities (cost, reliability) (7)
    8. Quality of life (10)
    9. Incentives (N/A)
    10. Legal climate (tort reform) (N/A)

To view the entire survey and read more from Site Selection, click here.

Greenville - Eastern North Carolina Alliance is a public-private partnership focused on economic development and business attraction, expansion, and retention.

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