New ‘Best States for Business’ Rankings Will Surprise New York Residents

The world leader in business news has released its rankings for the 'best states for business' in 2023. As a state, New York was ranked higher than it was one year ago, which is certainly good news for Empire State business owners.

That said, it is still not considered a top state for business in 2023, as it remains ranked in the middle of the pack. Does this surprise you, and should it concern you, as well?

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CNBC Releases Rankings for 2023's 'Best States for Business'

As noted by New York Upstate, business news outlet CNBC released their rankings of the best states for business in 2023, and New York remained in the middle of the pack despite moving up from a year ago.

Overall, New York was ranked as the 20th-best state for business in 2023. This ranking was up considerably from 2022, when New York was ranked 36th for business by CNBC.

Each state in America was ranked from 1-50 in seven separate business-related categories, which were then added together and averaged to create the overall state rankings. Here is where New York was ranked in each of the seven categories:

• Workforce: 46
• Infrastructure: 18
• Economy: 12
• Life, Heath and Inclusion: 14
• Cost of Doing Business: 41
• Tech and Innovation: 5
• Business Friendliness: 46

North Carolina was ranked as the best state in the country for business for the second consecutive year. On the other end of the spectrum, Alaska was ranked as the worst state for business in 2023.

Here is where states located near New York were ranked on CNBC's list:

• Massachusetts: T-15
• Pennsylvania: T-15
• Delaware: 18
• New Jersey: 19
• New York: 20
• Vermont: 29
• Connecticut: 31
• Maine: 39
• New Hampshire: 40
• Rhode Island: 45