These are the top 5 states for business in 2024
foxbusiness.comVirginia Lt. Gov. Winsome Sears discusses the state's actions amid college protests, President Biden's remarks and negotiations between schools and protesters.
A new winner has been crowned as the best state in America for business, but it is no stranger to the top spot.
The annual rankings conducted by CNBC scored all 50 states on a range of 10 categories, including infrastructure, workforce and economy, and determined these are the five best states for business in the U.S.
This view shows Virginia Beach, Virginia. The state was ranked No. 1 out of all 50 states for business in 2024. (iStock / iStock)
The Commonwealth of Virginia reclaimed its throne in 2024, clinching the title of No. 1 for a record sixth time since the outlet launched the rankings in 2007.
The Old Dominion's standing as having the best education system in the country pushed it to the front once again, and it also ranked third for infrastructure, which was the most heavily weighted category this year given the billions of federal dollars distributed to states through the Infrastructure Investment and Jobs Act passed in 2021.
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Virginia Republican gubernatorial nominee Glenn Youngkin speaks during his election night party at a hotel in Chantilly, Virginia, on Nov, 3, 2021. (REUTERS/Jonathan Ernst / Reuters)
Virginia is led by Republican Gov. Glenn Youngkin, who took office the same year the legislation was passed, turning the state red after running on a platform of strengthening the education system and lowering taxes.
North Carolina, which was No. 1 in the ranking for the past two years, came in second this year, edged out by Virginia by only three points.
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