North Carolina is currently ranked 12th in the United States for economic performance, a retrospective measure based on the state's performance (weighted average equal) on three important performance variables. These variables are heavily influenced by state policy and North Carolina has performed particularly well in the economy categories, with strong growth and a workforce that is constantly increasing. According to CNBC coverage, North Carolina also finished in the top 10 states for business promotion. The state is also home to some of the top recipients of research funding from the National Science Foundation and the National Institutes of Health, and it ranks high in cryptocurrency mining, a new factor in this year's ranking.
Jones on the Politics North Carolina blog in April, citing incentives and budget agreements as evidence. In this year's CNBC ranking, North Carolina scored 1546 points overall, just behind Virginia which scored 1587 points out of the 2500 possible in all categories. The CNBC ranking is just one of many recognitions of North Carolina's strong economy, which has been driven by conservative fiscal policies. Since the Toyota and Boom announcements, there have been several other economic booms in North Carolina.
CNBC outlines more of North Carolina's competitive advantages, as well as opportunities for improvement. The North Carolina DOC forecasts GDP growth using a formula developed in 2002 by Michael Walden of North Carolina State University. If you calculated based on GDP per capita, North Carolina would produce more than all but 14 countries. In fact, North Carolina's strong finances are the cornerstone of the country's main economy, as measured by the CNBC study.
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