Business has been booming as North Carolina comes out of the COVID-19 pandemic, and one publication has recognized just how good things are going in the Tar Heel State.
Chief Executive Magazine ranked North Carolina in the top five in the latest version of it’s annual Best & Worst States for Business survey of CEOs.
“There’s a big spread across the Sun Belt from Raleigh to Charlotte to Tampa and Jacksonville, and the big metro areas of Texas, on to Phoenix that are all in various respects growing fast,” said Cullum Clark, director of the Bush Institute-SMU Economic Growth Initiative. “It’s a distinctive model.”
North Carolina did drop one spot in the business rankings, but not because of anything it did wrong. It was more a product of Arizona skyrocketing from 10 in 2021 to four in 2022.
“With tech assets in the Research Triangle and the growing life sciences sector, the Tar Heel State has been on a roll in the past year. Thermo Fisher Scientific announced in December 2020 a $500 million investment and 500 new jobs in Greenville. Fintech company Robinhood added in March nearly 400 new jobs in Mecklenburg County. And in April 2021, Apple announced a $1 billion R&D campus in Wake County that will create 3,000 jobs by 2032. According to a recent survey and a white paper by the Tax Foundation and KPMC, the state now has one of the most competitive tax structures for business in the U.S.”
North Carolina also scores high marks thanks to 13 Fortune 500 businesses being headquartered in the state: Bank of America, Lowe’s, Nucor, Duke Energy, BB&T, Honeywell, LabCorp, Sonic Automotive, and Advanced Auto Parts.
Here’s a look at where all 50 states ranked this year, along with the Chief Executive comments on each state: