America's Leading States for Business 2025: Complete Report
In 2025, CNBC evaluated all 50 states based on 135 metrics arranged across ten major competitiveness categories. This annual ranking, now in its 19th edition, continues to identify crucial criteria that businesses use for site selection and that states highlight to attract them. Each category's significance is weighted according to its prevalence in states' economic development pitches, with the Economy category taking precedence this year.
For the first time, 2025's analysis incorporates assessments of states' vulnerability to trade conflicts and reductions in federal funding. We have also refined our Infrastructure assessments to better evaluate how states fulfill the energy and data needs of businesses. In crafting our criteria, we consulted a wide range of business leaders and policy specialists, alongside state representatives. Unlike opinion-based surveys, our study relies on data across numerous sources to assess state performance. The system allows each state to accumulate up to 2,500 points, with the highest scorers being recognized as America's Leading States for Business.
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