Delaware finished 18th in CNBC’s annual Top States for Business ranking, a marked improvement from a year earlier.
The First State finished 28th in 2021. Among neighboring states, Pennsylvania finished 15th with Maryland in 22nd place.
Across the river, New Jersey was the most improved. state jumping 23 places to 19. A strong economy and housing market aided the performance of the Garden State. The state’s heavy debt load was a negative factor, CNBC noted.
Delaware’s improved ranking came from high scores in the quality of its workforce, overall economy and infrastructure. Dragging down its score was education, followed by business friendliness, access to capital and the cost of doing business.
Ranking first was North Carolina, a state with a history of innnovation, followed by Virginia, Tennessee and Georgia. Minnesota, a high-tax state finished fifth, edging out Texas, which fell one place to sixth.
Oil-producing Louisiana and Alaska, finished 49th and 50th. West Virginia, which has struggled with the loss of jobs in the coal, steel and chemical industries was 46th.
According to CNBC, the study measured 86 different metrics in 10 categories of competitiveness.
Click here for detailed rankings for the 50 states.