North Carolina has reclaimed its top spot as the best place to do business in the United States less than 10 years after it faced corporate backlash over legislation that was seen as anti-transgender.

According to CNBC’s annual nationwide analysis, the Tar Heel State takes top honors for business investment in 2025, followed by Texas and Florida in third.

Texas previously finished at the top of the list in 2023 and 2022.

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