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In CNBC’s state-owned enterprise rankings, NJ isn’t last — but not good

TRENTON – New Jersey was ranked 42nd in the new CNBC ranking of best states for businesswith its highly ranked education system that doesn’t go so far in tackling failings in economy, business friendliness, and cost of living.

That’s a big drop from the Cable Business News Channel’s 2021 report, when New Jersey was ranked 26th, and marks the state’s lowest ranking in eight years.

CNBC has ranked the best states for business annually since 2007, though it skipped 2020 at the start of the pandemic, making it the 15th report. New Jersey fluctuated from 15th to 43rd.

How New Jersey Compares to Other States

The study scores each state on 88 metrics in 10 categories, weighted by how often states use them as selling points. Labour, infrastructure and cost of doing business were the top three categories.

New Jersey was ranked as having the worst economy, which takes into account economic growth and employment over the past year, each state’s fiscal situation, including its budget and pension obligations, the residential real estate market and the number of large businesses that call the state home.

North Carolina ranked first, followed by Washington, Virginia, Colorado, Texas, Tennessee, Nebraska, Utah, Minnesota and Georgia.

Mississippi ranked last. Other states behind New Jersey were Alaska, Louisiana, New Mexico, Hawaii, Rhode Island, West Virginia, and Maine.

Michael Symons is the Statehouse Bureau Chief for New Jersey 101.5. You can reach him at [email protected]

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