CNBC & the Best States for Business
Published July 16, 2024 at 1:27 PM · News Releases and Bulletins
Each year CNBC does its own version of the best states in the U.S. in which to do business. The network titled this year’s survey, America’s Top States for Business in 2024.
Leaving out Washington D.C. the survey looks at all 50 states from 10 different angles.
Each state is ranked on how it uses infrastructure, the available workforce, the economy of the state, quality of life, the cost of doing business, technology and innovation, business friendliness, education, the access to capital and the cost of living within the state to market itself.
The information gathered is then given to business and policy experts to set the rankings. The maximum a state can earn is 2,500 points.
Here are the top-5 states in which to do business according to CNBC’s data.
1. Virginia — 1,595 points
2. North Carolina — 1,592 points
3. Texas — 1,577 points
4. Georgia — 1,527 points
5. Florida — 1,479 points
The only PIA Western Alliance state in the top 10 is Washington. It is ranked 10th.
10. Washington — 1,436 points
Best grade: Technology and innovation
Worst grade: Cost of living
Infrastructure: 18 — B+
Workforce: 5 — B+
Economy: 18 — C+
Quality of life: 5 — B+
Cost of doing business: 39 — D+
Technology and innovation: 4 — A+
Business friendliness: 42 — D
Education: 32 — C+
Access to capital: 20 — C+
The cost of living: 42 — D-
Four PIA Western Alliance states, Hawaii, Alaska, Montana and New Mexico, are in the bottom 10:
50. Hawaii
49. Mississippi
48. Alaska
47. Lousiana
46. Montana
45. Arkansas
44.Rhode Island
43. New Mexico
42. Maine
41. New Hampshire
The rest of The PIA Western Alliance states:
12. Arizona — 1,416 points
Best grade: Infrastructure
Worst grade: Quality of life
Infrastructure: 2 — A+
Workforce: 6 — B+
Economy: 5 — B+
Quality of life: 41 — D-
Cost of doing business: 31—C
Technology and innovation: 21 — B-
Business friendliness: 26 — C+
Education: 47 — D+
Access to capital: 18 — C+
The cost of living: 37 — C-
23. California — 1,324 points
Best grade: Technology and innovation
Worst grade: Cost of living
Infrastructure: 15 — B+
Workforce: 11 — C+
Economy: 22 — D+
Quality of life: 8 — B
Cost of doing business: 45 — D-
Technology and innovation: 5 — A
Business friendliness: 47 — D
Education: 24 — B-
Access to capital: 1 — A+
The cost of living: 50 — F
28. Oregon — 1,283 points
Best grade: Technology and innovation
Worst grade: Business friendliness
Infrastructure: 17 — B+
Workforce: 36 — D-
Economy: 34 — D+
Quality of life: 6 — B+
Cost of doing business: 34 — C-
Technology and innovation: 9 — A-
Business friendliness: 48 — F
Education: 37 — C+
Access to capital: 25 — C-
The cost of living: 37 — C-
36. Idaho — 1,229 points
Best grade: Economy
Worst grade: Access to capital
Infrastructure: 34 — C
Workforce: 31 — D
Economy: 9 — B
Quality of life: 37 Cost of doing business: 28 — C+
Technology and innovation: 24 — C+
Business friendliness: 23 — C+
Education: 48 — D
Access to capital: 47 — F
The cost of living: 34 — C-
39. Nevada — 1,192 points
Best grade: (tie) Infrastructure and the economy
Worst grade: (tie) Technology and innovation and education
Infrastructure: 19 — B
Workforce: 10 — C+
Economy: 8 — B
Quality of life: 34 — D+
Cost of doing business: 38 — D+
Technology and innovation: 46 — F
Business friendliness: 36 — C-
Education: 50 — F
Access to capital: 23 — C
The cost of living: 32 — C
43. New Mexico — 1,143 points
Best grade: Education
Worst grade: Technology and innovation
Infrastructure: 39 — D+
Workforce: 30 — D
Economy: 27 — C-
Quality of life: 35 — D
Cost of doing business: 20 — B
Technology and innovation: 39 — D-
Business friendliness: 44 — D
Education: 28 — B-
Access to capital: 32 — D+
The cost of living: 27 — C+
46.Montana — 1,099 points
Best grade: Education
Worst grade: (tie) Workforce, access to capital, cost of living
Infrastructure: 43 — D
Workforce: 44 — F
Economy: 25 — C-
Quality of life: 29 — C-
Cost of doing business: 33 — C-
Technology and innovation: 37 — D
Business friendliness: 33 — C-
Education: 28 — B-
Access to capital: 44 — F
The cost of living: 46 — F
48. Alaska — 1,041 points
Best grade: Business friendliness
Worst grade: (tie) Infrastructure, cost of doing business, technology and innovation, access to capital
Infrastructure: 50 — F
Workforce: 28 — D+
Economy: 28 — D+
Quality of life: 17 — C+
Cost of doing business: 47 — F
Technology and innovation: 43 — F
Business friendliness: 15 — B-
Education: 48 — D
Access to capital: 49 — F
The cost of living: 24 — C+
50. Hawaii — 942 points
Best grade: Quality of life
Worst grade: Economy, cost of doing business, technology and innovation, access to capital, cost of living
Infrastructure: 47 — D-
Workforce: 32 — D
Economy: 49 — F
Quality of life: 7 — B+
Cost of doing business: 50 — F
Technology and innovation: 45 — F
Business friendliness: 42 — D
Education: 41 — C
Access to capital: 48 — F
The cost of living: 48 — F
Source link: CNBC — https://bit.ly/3WppWZh