It's about time to write off high-growth tech stocks, Goldman warned, saying software carries the highest multiples since the tech bubble.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
Boeing said the airline industry will need 44,040 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Apple is reportedly building three new iPhones for 2020, including two with 5G. It may also slightly change the screen sizes of the new iPhones.Technologyread more
Sotheby's announces it has signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Overall, extortion by email is growing significantly, according to the FBI's Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported...Technologyread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Target's nationwide cash register meltdown over the weekend created more than $16 million in buzz on the internet from news reports and other social media mentions, according...Retailread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
The top court scrapped a ruling from the Oregon Court of Appeals in favor of the same-sex couple. The owners of the bakery, which refused the make the cake due to religious...Politicsread more
Boeing reached a deal with British Airways to provide parts for some of its plane's made by rival manufacturer Airbus, part of Boeing's push to grow its services business.Airlinesread more
CNBC Presents Coverage with Special Correspondent Scott Cohn Revealing the 2019 America's Top States for Business across CNBC Platforms on Wednesday, July 10th
ENGLEWOOD CLIFFS, N.J., June 10, 2019 – With an escalating trade war, historic labor shortages, aging infrastructure and a record economic expansion showing signs of stress, what makes some states more competitive than others in the battle for business and jobs? The calculus has never been more complicated than it is now, and America's Top States for Business is back to make sense of it all.
Starting Tuesday, July 9th, CNBC, First in Business Worldwide, will broadcast coverage of its thirteenth annual study of America's Top States for Business. The network will build a special event around this CNBC exclusive study with the complete rankings being revealed on Wednesday, July 10th, during the network's Business Day programming. The complete ranking for all 50 states will be available on CNBC.com and include an in-depth look at each of their respective rankings.
CNBC Special Correspondent Scott Cohn will broadcast live from the top-ranked state beginning on Tuesday and will announce the top five states on this year's list on "Squawk Box" (6AM-9AM ET) Wednesday.
CNBC Digital will reveal, in conjunction with on-air, the complete list of America's Top States for Business rankings on Wednesday, July 10th. In addition, topstates.cnbc.com will feature a wealth of coverage about each state including economic snapshots (employment, budget, tax and housing data) and exclusive stories looking at the unique issues facing the states this year, from labor shortages and crumbling infrastructure to the changing dynamics around the trade war.
Follow us on Twitter @CNBC and take part in the social conversation using hashtag #TopStates.
CNBC's exclusive study scores all 50 states on 64 metrics across ten categories of competitiveness. The methodology grades the states based on the qualities they deem most important in attracting business. To do that, CNBC assigns a weight to each of the ten categories by analyzing every state's economic development marketing materials. The more frequently a selling point appears, the more weight it carries in the study.
Here are the 2019 categories and weightings:
Workforce (450 points)
We rate states based on the educational attainment of their workforce, the number of available employees, and net migration of college-educated workers. We consider each state's concentration of STEM (science, technology, engineering, and math) workers, increasingly in demand by business. We measure workforce productivity based on each state's economic output per job. We look at the relative success of each state's worker training programs in placing their participants in jobs. We also consider union membership and the states' right-to-work laws. While organized labor contends that a union workforce is a quality workforce, that argument, more often than not, does not resonate with business.
Economy (375 points)
A solid economy is good for business. So is a diverse economy, with access to the biggest players in a variety of industries. We look at economic growth, job creation, and the health of the residential real estate market. We measure each state's fiscal health by looking at its credit ratings and outlook, its overall budget picture, and pension and retiree health care obligations. Because of their own economic impact as well as the ripple effect, we consider the number of major corporations headquartered in each state.
Infrastructure (350 points)
Infrastructure is about access to people and markets. We measure the vitality of each state's transportation system by the value of goods shipped by air, waterways, roads and rail. We look at the availability of air travel in each state, the quality of the roads and bridges, and the time it takes to commute to work. We measure population within a day's drive of each state. We also evaluate each state's utility infrastructure, including the condition of drinking water and wastewater systems.
Cost of Doing Business (350 points)
We look at the competitiveness of each state's tax climate, as well as state-sponsored incentives that can lower the cost of doing business. Utility costs can add up to a huge expense for business, and they vary widely by state. We also consider the cost of wages, as well as rental costs for office and industrial space.
Quality of Life (325 points)
One way to attract qualified workers is to offer them a great place to live. We score the states on livability including several factors, such as the crime rate, the quality of health care, the level of health insurance coverage and the overall health of the population. We measure inclusiveness by looking at statewide anti-discrimination protections, as well as the ability of local jurisdictions to set their own standards. We evaluate local attractions, parks and recreation, as well as environmental quality.
Education (175 points)
Education and business go hand in hand. Not only do companies want to draw from an educated pool of workers, they also want to offer their employees a great place to raise a family. Higher education institutions offer companies a source to recruit new talent, as well as a partner in research and development. We consider the number of higher education institutions in each state as well as long-term trends in state support for higher education. We look at several measures of K-12 education including test scores, class size and spending, and we look at technology infrastructure in the schools. We also look at life-long learning opportunities in each state.
Technology & Innovation (175 points)
Truly competitive states prize innovation, nurture new ideas, and have the infrastructure to support them. We measure the states based on results, including the number of patents issued, as well as health, science and agriculture research grants.
Business Friendliness (175 points)
We evaluate the legal and regulatory climates of each state, as well as overall economic freedom for businesses and individuals.
Access to Capital (75 points)
Companies go where the money is, and capital flows to some states more than others. We look at venture capital investments by state, as well as traditional bank financing for small and mid-sized businesses.
Cost of Living (50 points)
The cost of living helps drive the cost of doing business. From housing to food and energy, wages go further when the cost of living is low. We measure the states based on an index of costs for basic items.
For more information contact:
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, and CNBC World, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to 410 million homes worldwide, including more than 90 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC Digital delivers more than 55 million U.S. multi-platform unique visitors each month. CNBC.com provides real-time financial market news and information to CNBC's investor audience. CNBC Make It is a digital destination focused on making you smarter about how you earn, save and spend your money by zeroing in on careers, leadership, entrepreneurship and personal finance.
CNBC has a vast portfolio of digital products, offering CNBC content to a variety of platforms such as: CNBC.com; CNBC PRO, a premium service that provides in-depth access to Wall Street; a suite of CNBC mobile apps for iOS and Android devices; Amazon Alexa, Google Assistant and Apple Siri voice interfaces; and streaming services including Apple TV, Roku, Amazon Fire TV, Android TV and Samsung Smart TVs. To learn more, visit https://www.cnbc.com/digital-products/.
Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc. For more information about NBCUniversal, please visit http://www.NBCUniversal.com.