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

MASSACHUSETTS — A new analysis from CNBC ranks Massachusetts No. 15 out of the 50 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.

The 15th-place ranking in 2023 was much better than last year, when Massachusetts ranked No. 24 overall. Still, Massachusetts ranks almost at the bottom of the list when it comes to factors like cost of living (No. 47) and cost of doing business (No. 49).

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.