NC Ranked No. 1 State for Business by CNBC


Starting ’23 at the top! After another banner year for growth, job creation and investments, with a “succinct regional economic development strategy in recent years,” North Carolina has been named the 2022 “State of the Year” for economic development by leading industry magazine Business Facilities

“Paired with world-class education and R&D resources, the support of incentives and programs from organizations at all levels for a variety of industries, including high-growth sectors such as electric vehicles, made the state our choice for top recognition this year,” said Business Facilities Editorial Director Anne Cosgrove.

In 2022, Gov. Roy Cooper announced a record number of jobs (28,300+) being added across the state, and CNBC also ranked the Tar Heel State as the No. 1 state in the country for business—earning top spot based on what CNBC rated as “America’s strongest state economy, with robust job growth, solid public finances and a healthy housing market.”

Earning high marks in other categories: “As a major banking center, the state finishes second only to California in the list’s Access to Capital category, and the home of one of the nation’s oldest research and development hubs—the famed Research Triangle Park—finishes 5th for Technology & Innovation.” 

Here are some of the big businesses that made major moves in NC:

  • Amgen broke ground at its next major manufacturing facility in Holly Springs
  • Wolfspeed announced plans for a ~$5 billion facility in Siler City
  • Freedom Solar, the largest solar panel company in Texas, expanded to NC following the passage of the Inflation Reduction Act
  • Health start-up One Medical, which was recently acquired by Amazon, continues to expand its locations across the state
  • European CRO TFS Health Sciences opened its first U.S. headquarters in RTP


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Angela Brown
Angela Brown is the author of our Business & Economy section.