A July report from CNBC ranked North Carolina No. 1 on its list of the best states for business.
The report took several factors into consideration, including workforce, infrastructure and cost of living.
By CNBC's metrics, North Carolina has the best economy of any state, coupled with a low unemployment rate (3.4 percent). The state's tax rates are also low, with a 2.5 percent top corporate tax rate and a 4.99 percent top individual tax rate for a state with a population of more than 10.5 million.
The state also ranked second in access to capital and fifth in technology and innovation. In addition, it ranked in the top 20 for workforce, infrastructure and education.
While North Carolina's GDP saw a decline of 1.4 percent compared with the first quarter of 2021, other economic indicators, coupled with high workforce and infrastructure rankings, were enough to make up for the drop.