Categories: 2014 Best & Worst States

North Carolina is the 3rd Best State for Business 2013

Previous State: Florida Next State: Tennessee

No. 3 North Carolina

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP % Growth ’10-’11: 1.8 % Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.3 Unemployment Unemployment Rate Dec. 2012 %: 9.4 Comparison with Nat’l Rate (7.80%): 1.6 Domestic Migration Domestic Net Migration ’10-’11: 41,033 Rank: 3 State Government Debt per Capita Fiscal Year ’10 ($): 1,983 State & Local Gov’t Employees per 10k Residents: 599.7 State-Local Tax Burden Rate (%): 8.4 Compared to Nat’l Avg. (9.9%): -1.45

Key Metrics

State GDP

% Growth ’10-’11: 1.8
% Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.3

Unemployment

Unemployment Rate Dec. 2012 %: 9.4
Comparison with Nat’l Rate (7.80%): 1.6

Domestic Migration

Domestic Net Migration ’10-’11: 41,033
Rank: 3

State Government

Debt per Capita Fiscal Year ’10 ($): 1,983
State & Local Gov’t Employees per 10k Residents: 599.7

State-Local Tax Burden

Rate (%): 8.4
Compared to Nat’l Avg. (9.9%): -1.45

Key Companies
Bank of America Corporation Lowe’s Companies Inc. Duke Energy Corporation Niuco, Progress Energy Reynolds American VF Corp. Goodrich

Development Trend Indicator: Sideways
Still needs to fix tax and regulatory issues that have been holding it back.

CEO Comments
“North Carolina – great new Governor putting together an excellent team. Republican legislature for 1st time in 27 years. Has huge growth potential.” “VA, NC, MD, and TN all have strong business climates and excellent educational systems. They promote business. They want to and do help ongoing and new business.” “North Carolina and TN seem to be pro business. NC not only offers incentives to come to the state but have incentives to stay there.”

CEO Comments

“North Carolina – great new Governor putting together an excellent team. Republican legislature for 1st time in 27 years. Has huge growth potential.”

“VA, NC, MD, and TN all have strong business climates and excellent educational systems. They promote business. They want to and do help ongoing and new business.”

“North Carolina and TN seem to be pro business. NC not only offers incentives to come to the state but have incentives to stay there.”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

Previous State: #2 Florida Next State: #4 Tennessee

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.