America’s Top States for Business 2024: The full rankings
Mark Rapier CMAS, ALC
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CNBC’s annual ranking of the top states for business is always interesting reading.
The methodology used is relatively consistent. ?The criterion definitions are adjusted based on several factors. ?The relative weighting can change each year, depending on the state of the overall economy.
Infrastructure was the most heavily weighted factor in 2024. ?A new consideration was the state’s ability to help businesses identify new sites, fund their development, and build the related infrastructure (roads, water/sewer, electricity, etc.).? I was surprised to see Texas at 26.? This is likely due to the state’s electric grid challenges.? Between 2000 and 2023, Texas experienced 210 weather-related power outages.? Michigan was next at 157.
The next factor was the state’s workforce.? The focus is on skilled workers with a concentration in STEM and college degrees, including associate degrees and certifications.? Missing from consideration are service workers.? For economies to thrive, we need workers at all skill levels.
CNBC cited 75 different data sources used for the rankings.
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