September 2013 Amanda Jones-Hoyle Triangle Business Journal
Forbes magazine has again ranked North Carolina No. 4 on its annual “Best States for Business” list.
The Tar Heel State was cited for having one of the highest net migration rates in the U.S. and its low labor costs that are 19 percent below the national average. This is the second straight year that North Carolina has ranked fourth on the list after ranking at third in 2010 and in 2011.
Virginia came in at No. 2, followed closely by North Dakota and Utah, which dropped two slots from its No. 1 ranking last year. Colorado rounded out the top five list.
Forbes ranks states based on business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life.
North Carolina ranked No. 2 for business costs, No. 7 for labor supply, No. 3 for regulatory environment, No. 26 for economic climate, No. 9 for growth prospect and No. 23 for quality of life.
In August, Forbes ranked both Raleigh and Durham among it top 10 list of “Best Places for Business and Careers.”