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North Carolina Tops Forbes List of Best States for Business

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Flag_of_North_CarolinaFor the second consecutive year, North Carolina is the nation’s No. 2 best state for business according to Forbes magazine. Forbes’ annual “Best States for Business” list measures which states have the best business climates and are poised to succeed going forward. North Carolina is the only state in the southeast to be ranked in the top five.

“This ranking is further affirmation that our pro-growth economic policies and excellent business climate have once again made North Carolina a top destination for jobs,” said Governor McCrory. “Our economy continues to outperform the nation as we are home to the most improved tax climate in the country and have added more than 300,000 new jobs since 2013.”

Forbes’ “Best States for Business” rankings are based on an assessment of criteria that include job growth, costs, educational attainment and start-up activity. Among the highlights of North Carolina’s ranking is the cost to do business in the state, which is 10 percent below the national average.

Earlier this month, Site Selection magazine gave North Carolina the No. 2 position in its annual rankings of America’s best states for business, also for the second year in a row. In May, Chief Executive magazine named North Carolina the nation’s No. 3 best business climate for 2016.

“Historic reforms to our tax, regulatory and service-delivery climate have not only yielded some of the strongest economic growth in the country, but have earned accolades from the nation’s business media,” said N.C. Commerce Secretary John E. Skvarla, III.

Since Governor McCrory entered office in January 2013, North Carolina’s economy is one of the fastest growing in the nation adding more than 300,000 net new jobs. The state’s unemployment rate during that time fell from 8.8 percent to 4.7 percent and has decreased in all 100 counties. The governor also signed historic, pro-growth tax reform saving families and businesses $4.7 billion and positioning North Carolina as the most improved business tax climate in the nation.