For three of the last four years, North Carolina has received the top ranking from CNBC, the business news arm of NBC. CNBC has been ranking the 'best state for business' for 19 years, currently using over 130 different metrics in 10 categories.
This year, CNBC noted the state's strong workforce and economy, investments in education and infrastructure, and — overall — being business-friendly. Governor Stein appeared live on CNBC for the announcement on Thursday morning.
In a press release, followed by a briskly organized press huddle at the Cotton Exchange in downtown Wilmington, Stein celebrated the good news, calling it a "great day for North Carolina."
Stein credited North Carolina’s workers, saying, “We have one of the strongest economies, excellent infrastructure, an incredible quality of life, but it all starts with our people.”
CNBC ratings details: Good news, bad news
CNBC uses a complex system of weighted data points (you can find more about its methodology here). States can earn a total of 2,500 points in 10 categories, which some categories — like infrastructure, economy, or workforce — having a more significant impact than others — like access to capital, cost of living, or education.
| Rank | Category | Score |
| 1 | Overall | 1614 |
| 21 | Cost of Doing Business (11.8%) | 167 |
| 4 | Workforce (13.4%) | 243 |
| 29 | Quality of Life (10.6%) | 136 |
| 3 | Economy (17.8%) | 322 |
| 11 | Infrastructure (16.2%) | 240 |
| 13 | Technology & Innovation (10.2%) | 159 |
| 6 | Education (4.4%) | 70 |
| 4 | Business Friendliness (10.8%) | 195 |
| 8 | Access to Capital (2.4%) | 49 |
| 23 | Cost of Living (2.4%) | 33 |
While Stein touted quality of life, North Carolina got relatively low marks for that category, which makes up a little over 10% of CNBC's overall ranking. The state was ranked 29th in the nation — "its worst category," according to CNBC. (It was also ranked 21st in the nation for cost of living, which has much less impact on the total score.)
Here's CNBC's description of how it compiles the 'quality of life' category rating:
With workers in short supply, companies are seeking to locate in states that can attract a broad array of talent. That makes quality of life an economic imperative. We rate the states on livability factors like per capita crime rates, environmental quality, and health care. With studies showing that childcare is one of the main obstacles to employees entering the workforce, we consider the availability and affordability of qualified facilities. We look at worker protections including livable wage policies, paid leave, and rights to organize. We look at inclusiveness in state laws, including protections against discrimination of all kinds, as well as voting rights and secure election systems. And with surveys showing a sizeable percentage of younger workers would not live in a state that bans abortion, we factor reproductive rights in this category as well.
And CNBC noted that while North Carolina is "almost unfailingly friendly to business, it is not terribly friendly to workers." CNBC cited the left-leaning anti-poverty organization Oxfam, which ranked North Carolina as the worst state to work in, based on a lack of worker protections. The report also noted that "North Carolina is one of only five states with no law protecting nondisabled people from discrimination in public accommodations, according to the National Conference of State Legislatures."
Asked about this, Stein said he didn’t understand CNBC’s metrics, and offered his own evaluation.
"All I know is that people who move to North Carolina don't move out of North Carolina. That tells me we have a fantastic quality of life. The natural beauty, the outdoor activities, the culture — there's a lot to offer here in North Carolina," he said.
Stein backtracked slightly when asked why he would celebrate CNBC's measure of economic success if he didn't agree with the network's evaluation of North Carolina's quality of life.
"Well, what I said was, I don't know what metrics they use, so I have to look to see how they came up with their ranking," Stein said. "Look, can things be better? Yes, we're on our toes. We always want North Carolina to be at the top. I wanted to get a perfect score. We did not get a perfect score. So we will constantly ask ourselves, what can we do better?"
Stein said the state could do more for the working class.
“We can do better by our workers, by helping them earn a better living. So what we're trying to do is recruit businesses that pay a higher wage," he said.
Stein closed by saying things could always be better, but argued that other states want what North Carolinians already have.
