Where Does GA Rank Among America’s Top States For Businesses?

GEORGIA — A new analysis from CNBC ranks Georgia at No. 4 near the top of the pack among U.S. states in business competitiveness.

For its America’s Top States for Business rankings released Tuesday, CNBC scored states in 86 areas across 10 broad categories of competitiveness, with a maximum possible score of 2,500 points. The categories were weighted based on how frequently the states use them to sell business opportunities in economic development marketing materials.

“That way, our study ranks the states based on the attributes they use to sell themselves,” CNBC explained of its methodology, developed in consultation with a diverse group of business and policy experts, and the states themselves.

Georgia was ranked fourth with 1,489 points, up six places from CNBC’s 2022 rankings.

Gov. Brian Kemp, a Republican, leads Georgia’s population of 10,912,876. The Peach State had an unemployment rate of 3.20 percent in May and a top corporate tax rate of 5.75 percent. Its gross domestic product for the first quarter was 2.40 percent. As of Tuesday, Georgia’s gas tax was 55.95 cents per gallon, and its top individual income tax rate was 5.75 percent. Georgia has a bond rate of Aaa, Stable on Moody’s scale, and AAA, Stable on the Standard and Poor’s scale.

Data sources used in the economic profile are the U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (including 18.40 cent/gallon federal tax), Moody’s Investor Service and S&P Global Market Intelligence.

According to CNBC, the top 10 states for business are:

1. North Carolina
2. Virginia
3. Tennessee
4. Georgia
5. Minnesota
6. Texas
7. Washington
8. Florida
9. Utah
10. Michigan

See the full rankings via CNBC.