CNBC's Top States for Business 2025: Ranking Methodology and Key Trends

CNBC's Top States for Business 2025 Study

• 🗓️ CNBC's annual Top States for Business study is launching soon, with the 2025 rankings to be revealed on July 10th.
• 📊 This year marks the 19th iteration of the study, which has evolved significantly since its inception in 2007.

Evolving Ranking Criteria

• ⚖️ The study uses 10 categories of competitiveness, but the weight of each category changes annually based on what states are prioritizing to attract businesses.
• 📈 In 2025, economy is the heaviest weighted category at 18%, reflecting current economic anxieties and opportunities.
• 💡 Historically, the focus has shifted from cost of doing business to workforce, then infrastructure, and now economy.

Key Categories and Metrics

• 💰 Economy measures state growth, job creation, financial strength, and vulnerability to trade wars and budget cuts.
• 🛣️ Infrastructure includes roads, bridges, computing power, electric power, and shovel-ready sites.
• 🧑‍💼 Workforce assesses the availability and migration of skilled workers.
• 💲 Other categories include cost of doing business, business friendliness, quality of life, technology and innovation, education, access to capital, and cost of living.

State Performance and Trends

• 🥇 Florida ranked number one for the past two years, with a strong economy and no income tax, though high homeowner's insurance costs are noted.
• 🏆 Virginia has been the most frequent top state, appearing six times.
• 🚀 States are increasingly touting their economic strengths and ability to