For the first time, North Carolina has been named CNBC’s America’s Top State for Business. In recognizing the state’s strengths, the article notes that North Carolina is “powered by an economy that has hit its stride, and turbocharged by a long track record of innovation.” North Carolina finished second in last year’s rankings and “has always been a contender in CNBC’s annual competitiveness rankings.”
CNBC uses a variety of metrics in the analysis to determine how states are ranked. The analysis includes measures for workforce, infrastructure, economy, and technology & innovation among others. This type of analysis is similar to analysis Wake County Economic Development has done for several years. Each year WCED commissions a study to contrast the Raleigh metro with the top 100 largest metros around the United States. A database of more than 232 comparative metrics was analyzed covering the areas of cost, talent, demographics, innovation, and economic diversity. The Raleigh metro tops the Metro Comparison rankings as the most competitive metro in the U.S.
Between the CNBC ranking of North Carolina as the Top State for Business and WCED’s Metro Comparison analysis several common themes are evident.
- The availability and diversity of talent is the key driver in the success of our community.
- The education and workforce development ecosystem must be in alignment to ensure companies get the right employees with the right skills.
- Wake County is home to a diverse economy based on innovation.
- We live in a community with a high quality of place that continues to invest in its people and infrastructure.
The spirit of collaboration was also understood as an important aspect of North Carolina’s success. As the WCED team likes to say “economic development is a team sport!” Partnership is certainly a key component of the success of Wake County, with public and private partners supporting economic development. As partnership is so important, it is important to recognize those with which WCED most often works with: Governor Roy Cooper’s Office; the North Carolina General Assembly and the Wake County Delegation; the Wake County Commissioners; the twelve municipalities in Wake County; the education and workforce partners – NC State University, Wake Tech, Capital Area Workforce Development, William Peace University, Shaw University, St. Augstine’s University, Meredith College, Campbell University, and Wake County Public Schools; the Economic Development Partnership of NC; NC Department of Commerce; and the NC Biotech Center. The work of WCED would not be possible without our private sector partners and EDGE investors. These are companies that believe in the future of Wake County.
Being named CNBC’s America’s Top State for Business for 2022 is exciting news for North Carolina. Wake County has a long history of being recognized as a top community to live, work, and learn. Here are some additional rankings and news about Wake County.