Best States for Business 2019

North Carolina

gross state product

$588B

population

10.4M

median household income

$54,704

cost of doing business

10% below nat'l avg

college attainment

31.3%

net migration

93,200 (year: 2018)

unemployment

moody`s bond rating

Aaa

governor

Roy Cooper

As of December 2019

North Carolina ranks as FORBES' Best State for Business for the third straight year (2017 was its first time on top). With one of the highest net migration rates in the U.S., people have been flocking to North Carolina for the past decade. The state has the smallest union workforce in the U.S. in terms of percent of total employment. The resulting benefit is labor costs that are 8% below the national average—sixth lowest in the country. North Carolina has ranked in the top five overall for 14 straight years. One impact on

North Carolina's business community: the passage of the controversial HB2 or ""Bathroom Bill,"" which requires citizens to use the public facility that corresponds with their biological gender. The NBA pulled the All-Star game from Charlotte and the NCAA and ACC also bailed on hosting championships in the state. PayPal and Deutsche Bank froze expansion plans after the law passed. The NBA awarded the 2018 All-Star Game to Charlotte in May two months after the N.C. legislature partially repealed the bill.

On forbes lists

Best States for Business 2019

In Business Costs

In Labor Supply

In Regulatory Environment

#13

In Economic Climate

#13

In Growth Prospects

#16

In Quality of Life

EmploymentHousingEducationQuality of Life

Job Growth

1.7% (year: 2018)

Projected Annual Job Growth

0.9%

Unemployment

Median Household Income

$54,704

Household Income Growth

3.6%

Right to Work State

yes

Union Workforce

2.7%

Sources: Moody's Analytics; U.S. Census; ATTOM Data Solutions; FBI; BLS; Forbes.
a. Index measures whether a family earning the median income can afford the median-priced home. A value of 120 indicates a typical household has 20% more income than needed for the typical home.

2019