NJ Ranks 26th as Top State for Business by CNBC

On Jul 13, 2021

CNBC today issued its “Top States for Business 2021” report, which ranked New Jersey 26 – just past the middle – as a favorable state in which to conduct commerce.

Regionally, the Garden State ranked behind New York (22), Pennsylvania (23), and Connecticut (24). The only regional state in which New Jersey did perform better than was Delaware, which came in at 27.

CNBC scored all 50 states on 85 metrics in 10 broad categories of competitiveness. Each category was weighted based on how frequently states use them as a selling point in economic development marketing materials.

In the ranking, New Jersey scored:

• 44th for cost of doing business
• 42nd, business friendliness
• 39th, economy
• 26th, cost of living
• 20th technology and innovation
• 16th, infrastructure
• 12th, access to capital
• 11th workforce
• 10th, life, health and inclusion
• 3rd, education

The top state in the survey was Virginia. Alaska ranked last at 50th.

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