Louisiana is the 44th best state in the U.S. for doing business, according to a recent study conducted by CNBC, up two spots from last year’s ranking.
To rank America’s Top States for Business in 2021, CNBC scored all 50 states on 85 metrics in 10 broad categories of competitiveness. Each category is weighted based on how frequently states use them as a selling point in economic development marketing materials. That way, the study ranks the states based on the attributes they use to sell themselves.
Under CNBC’s methodology, states can earn a maximum 2,500 points. Louisiana earned an overall score of 1,124.
On a positive note, compared to the last time the study was conducted in 2019, Louisiana improved in six ranking categories.
Most noticeably, the state now ranks third in the nation when it comes to the cost of doing business, up 10 spots from its No. 13 ranking two years ago.
Louisiana also ranks among the top half of the country in terms of cost of living (17th), access to capital (23rd) and its workforce (25th), with all rankings reflecting improvements from 2019.
However, the state’s rankings slipped in four categories, including education (from 37th to 40th), business friendliness (from 39th to 45th), technology and innovation (from 42nd to 47th) and economy (from 49th to 50th). Additionally, Louisiana ranks 42nd in terms of life and health, a newly introduced metric.
The best state for business, according to the study, is Virginia, with North Carolina, Utah, Texas and Tennessee rounding out the top five.
Compared to its Southeastern peers, Louisiana outranked only Mississippi (45th) and West Virginia (47th). Georgia ranked 6th in the nation, while Florida ranked 17th and Alabama ranked 31st.