North Carolina and South Carolina are home to two of the best business climates in the country, according to new rankings released this week by Business Facilities. In the annual rankings of metropolitan areas, Charlotte continued its reign in the spotlight in a number of key categories. The Charlotte metro is the No. 3 fastest-growing city, No. 8 for tech talent, and No. 10 for best business climate.
Desirable locations | Best Business Climate
Both Carolinas ranked in the top ten of Business Facilities’ flagship Best Business Climate category. North Carolina ranked No. 2 and South Carolina ranked No. 10. The ranking includes consideration of economic development activity and achievements over the previous year, including capital investment and job creation announcements and implementation.
Charlotte ranked No. 10 among large metros on the Best Business Climate list. Economic strength, regulatory and tax climate, infrastructure, and workforce availability are central criteria for earning the Best Business Climate designation. Business Facilities also considered the appeal of the metro area as part of relocation and expansion decisions.
Austin/Round Rock, TX; Raleigh-Cary, NC; and Boise City, ID; ranked No. 1, 2, and 3, respectively.
The Right Stuff | Tech Talent Leaders
The Business Facilities Tech Talent Leaders rankings showcase the availability of a tech-centric workforce in cities metro areas across the United States. Charlotte, with a tech talent labor pool of 50,000-100,000, ranked No. 8 in the mid-sized category. Raleigh-Durham edged out Charlotte, coming in at No. 6.
In this category, size and growth of the talent pool were primary factors, which led to three rankings, divided by size of labor pool.
The Charlotte Region | Business is Better Here
These rankings, focused on more than 60 factors pertinent to site selection teams for business relocation and expansion investments, serve as a valuable resource for site selectors and consultants, and underscore why the Charlotte Region is one of the most attractive places in the nation to do business.
“The annual Metro Rankings Report recognizes the strengths of metros and cities across North America, and our evaluations take into account a broad range of site selection factors,” Business Facilities Editorial Director Anne Cosgrove said. “As companies seek the ideal location for their relocation and expansion projects, the 2024 rankings will provide valuable insight for site selection teams.”
The 20th Annual Rankings Report will be published in the July/August 2024 issue of Business Facilities.
