New Jersey Leaps More Than 20 Spots In Best States For Business

New Jersey has experienced a remarkable surge in CNBC’s prestigious “America’s Top States for Business” rankings, securing a place in the top 20 among U.S. states. The rankings, compiled by the renowned business-news network, assess states based on ten crucial categories including infrastructure, workforce, and technology & innovation.

According to the recently released rankings, New Jersey achieved its highest scores in the categories of education, life, health & inclusion, as well as access to capital. The state also witnessed a substantial leap from 50th place to a commendable 19th position in the evaluation of its economy.

The impressive advancements in various areas contributed to New Jersey’s overall ranking of 19th, an astounding improvement from last year’s 42nd position. CNBC reported that New Jersey’s progress outpaced that of any other state in the 2023 rankings.

Despite this notable achievement, New Jersey fell short of reaching an even higher ranking due to persistently poor performance in significant categories such as business friendliness and cost of doing business.

This year, the top three spots in CNBC’s rankings were secured by North Carolina, Virginia, and Tennessee. On the other end of the spectrum, Alaska, Louisiana, and Mississippi occupied the bottom three positions.

In the latest summary page dedicated to New Jersey, CNBC highlighted a promising unemployment rate of 3.6% recorded in May. Additionally, the state’s recent bond rating, which reflects upgrades from leading Wall Street rating firms, was emphasized, further underlining New Jersey’s positive trajectory in the business landscape.

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