Jul 11, 201705:34 PMBlog
Best state for business? CNBC says it's Washington
CNBC has unveiled the results of its 11th annual list of America’s Top States for Business, and at the top of the heap sits the Evergreen State.
Washington scored 1,621 out of 2,500 points, edging Georgia (1616 points) and Minnesota (1615). Points were awarded in 10 categories, ranging from the state of the economy to technology and innovation to the cost of doing business. Surveys performed by CNBC ranked Washington in the top 10 in five categories: workforce, quality of life, economy, technology/innovation and access to capital. Even Washington’s notoriously large expenses (37th in cost of living, 32nd in cost of doing business) didn’t stop the state from reaching the top of the rankings.
“Washington’s economy grew 3.7 percent in 2016, the largest increase of any state and nearly 2.5 times the national rate,” read a release from CNBC. “That, along with solid job growth and one of the hottest housing markets in the country, won the state third place for Economy, its best category in the study along with Technology & Innovation.”
Washington had placed in the top 10 for the last four years, ascending a long way from its number 21 position in 2012 and 2013.
“Washington has assembled an amazing roster of both household business names and rising stars to position itself as a powerhouse for some time to come,” reported CNBC Special Correspondent Scott Cohn. “But the state faces some substantial challenges. How it meets them will determine whether this is just the start of a long period of business dominance, or if this is the peak.”
To see the full study, visit topstates.cnbc.com.