To rank America's Top States for Business in 2025, CNBC evaluated all 50 states based on 135 metrics across 10 categories of competitiveness. This study, now in its 19th year, continues to identify factors companies consider when making site selection decisions and those states highlight to attract businesses. The Economy category was the most weighted this year.
In 2025, new metrics were introduced to assess states' risks from trade wars and shrinking federal budgets. Infrastructure metrics were also enhanced to evaluate how states meet companies' power and data needs. The criteria and metrics were developed with input from business and policy experts as well as the states themselves. This study relies on data from various sources rather than opinion surveys. States could earn up to 2,500 points, with the highest-scoring ones named America's Top States for Business.
New Mexico ranked near the bottom at #44.
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