New Jersey dropped eight spots, from 22 to 30, in CNBC’s annual listing of “Top States for Business,” a ranking it conducts with input from the National Association of Manufacturers and the Council on Competitiveness each year. The study, which ranks each state “based on the criteria it uses
The study, which ranks each state “based on the criteria it uses to sell themselves,” looks at 10 metrics: cost of doing business; workforce; quality of life; economy, infrastructure and transportation; technology and innovation; education; business friendliness; access to capital; and cost of living.
It should come as no surprise that New Jersey did poorest in the categories of cost of living (46) and cost of doing business (43). Its best marks were in education (2), access to capital (6) and technology and innovation (8).
Its biggest shifts were a nine-point increase in infrastructure and transportation (32 to 23) and a six-point drop in business friendliness (35 to 41). The major factor for the drop in the overall ranking? New Jersey’s economy, which went from 28 to 42.