North and South Carolina are among the top 10 states in the country to do business, according to a survey of CEOs across the country.
Chief Executive magazine’s rankings are compiled from the opinions of CEOs and business owners in the United States who are asked to assess each state’s business climate, workforce, and quality of life. Nearly 700 CEOs, with representation from every state, participated in this year’s survey, which was conducted in January 2023.
North Carolina ranked No. 4 on the list, up one spot from the prior year. South Carolina jumped up four spots to land at No. 8.
The rankings come on the heels of North Carolina being named America’s Top State for Business by CNBC.
According to Chief Executive magazine, broadly speaking, the trends dictating how states are performing as economic actors these days extend beyond CEO opinion to include foreign companies’ increasing embrace of the U.S. market; reshoring and a renaissance in domestic manufacturing; the leveraging of state coffers flush from recent federal largess through tax cuts and other means; the rising value of experienced labor along with the expansion of automation; and the pandemic-era migration from city cores to exurbs and beyond.
Other emergent regional trends are evident in the 2023 Best and Worst States for Business results. South Carolina and Georgia have become big winners in states’ hunt for domestic manufacturing jobs, especially among global auto companies expanding their U.S. factory footprints for the transition to all-electric vehicles.
Texas earned the top spot on the list for the 19th year in a row. The full results are available here.
