N.C. tops Prosperity Cup ranking for business competiveness

RALEIGH — For the second year in a row, Site Selection’s 2016 Prosperity Cup ranked North Carolina first, tied with Texas for business competitiveness.

The Prosperity Cup measures corporate project activity and business climate attractiveness by looking at the progress of facilities, capital investment, tax climate, job creation and others.

Gov. Pat McCrory released a statement Monday saying: “This ranking confirms once again that North Carolina is an outstanding place to do business. Our state offers companies the competitive factors they need to be successful, which is why North Carolina enjoys the fastest growing economy in the nation.”

According to Site Selection, North Carolina and Texas topped the list because their economic development boasts breadth, depth and economic diversity.

“There’s a strong case here that because of the data saying North Carolina is a great place, its reputation is going to withstand the storm,” Leonard Ponzi, the managing partner of Reputation Inc. and former managing partner of the Reputation Institute, said.

The U.S. Department of Commerce Bureau Economic Analysis released data last week showing North Carolina’s Gross Domestic Product has a 13.4 percent increase since 2013, which was the fastest in the U.S.

“North Carolina is a great place to open or expand your business,” North Carolina Commerce Secretary John E. Skvarla III said. “We have a superior tax and regulatory environment, highly skilled workforce and outstanding quality of life in addition to a wide variety of economic development programs to assist business with grown opportunities.”

Tennessee ranked third, and Kentucky and Georgia followed.

For additional information about the 2016 Prosperity Cup, visit http://siteselection.com/issues/2016/may/prosperity-cup.cfm.