5. North Carolina

The Tar Heel State is controversially grinding down diversity. Businesses willing to overlook that will find plenty of workers and capital.

Top States North Carolina
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 263 9 16 (Tie)
Cost of Doing Business 214 18 17 (Tie)
Infrastructure 180 30 23 (Tie)
Economy 229 11 6
Quality of Life 161 30 33 (Tie)
Technology & Innovation 185 7 10
Education 100 28 30
Business Friendliness 91 15 (Tie) 17
Cost of Living 50 18 23
Access to Capital 49 2 (Tie) 1 (Tie)
Overall 1522 5 9

Economic Profile

Governor: Pat McCrory, Republican

Population: 10,042,802

GDP growth: 2.7 percent

Unemployment rate (May 2016): 5.1 percent

Top corporate tax rate: 4 percent

Top individual income tax rate: 5.75

Gasoline tax: 53.65 cents/gallon

Bond rating/outlook: Aaa, stable

Major private employers: Wal-Mart, Bank of America

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

  • Between new federal tax bill changes and underutilized deductions, CNBC finds ways to save money while filing taxes.

  • Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.

  • To turn the page on structural racism, communities are Changing The Narrative. In this series, CNBC explores the central themes of racial healing through stories addressing implicit bias in economic data, the major obstacles to racial equity at work, how fiscal investment can change the narrative on minority entrepreneurship and the ramifications of the great resignation in the Black community.