Forbes Magazine Ranks North Carolina 3rd Best State for Business in America

Forbes magazine is ranking North Carolina as the 3rd Best State for Business in America, up 2 slots from last year’s Forbes ranking.

In the Forbes rankings, North Carolina scored third in Business Costs and Regulatory Environment and ninth in Growth Prospects.  Forbes scored the states on six measures including business cost, labor supply, regulatory environment, economic climate, growth prospect and quality of life.

According to Governor Bev Perdue’s office, recent Bureau of Labor and Statistics numbers show North Carolina is ranked 3rd in the nation for declining unemployment and 4th in the nation for job creation.

The North Carolina unemployment rate has fallen from 11.1% in January to 9.7%, corporate profits in the state are up 10%, and North Carolina is 5th in the nation for personal income growth since June 2009.

Growth of NC Exports up 7.8%
The North Carolina Economic Overview issued in September by the North Carolina Department of Commerce indicates that through the first 7 months of 2010, North Carolina ranked 16th in the nation in the value of exports.  In the 2nd quarter of 2010 the total value of exports from the state was $6.3 billion. This is 2.4% growth over the previous quarter and 7.8% growth over the second quarter of 2009.

While economic recovery in the U.S. could certainly be stronger, some areas are faring better than others and North Carolina is near the top in many ways.

Additional Resources:
Forbes “Best States for Business” Report
Forbes Complete State Rankings
NC Department of Commerce Economic Overview
Governor Bev Perude’s Press Release on Forbes magazine ranking

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