Published Jul 14, 2022 by A.J. Mistretta
Texas ranked as the 5th best state for business in the nation in a new report from CNBC.
The business network ranked all 50 states across 88 metrics in 10 broad categories of competitiveness. The categories were weighted based on how frequently states use them in economic development efforts.
Breaking down the categories, Texas scored well in areas like workforce (No. 2 overall), technology and innovation (No. 4) and the economy (No. 8) but ranked near the bottom in life, health and inclusion (No. 49). The Lone Star State ranked No. 4 in last year’s CNBC list.
CNBC said it developed its criteria and metrics in consultation with a wide array of business and policy experts, as well as the states themselves.
Texas has a population of 29.5 million residents and a current unemployment rate of just 4.2%.
The top five states in order were North Carolina, Washington, Virginia, Colorado and Texas. Hawaii, New Mexico, Louisiana, Alaska and Mississippi ranked at the bottom of the list, in that order.
Learn more about economic development efforts to grow business in Houston.