COLUMBUS, Ohio, July 9, 2026, 16:09 EDT
- Ohio took the top spot in CNBC’s 2026 “Top States for Business” list, the first time since the survey launched in 2007. JobsOhio
- This year, CNBC set infrastructure at 17.6% of the score, the highest weight. The network put more focus on permitting speed and power-grid capacity.
- Investors face a risk here: Ohio’s data-center surge is driving up interest but it’s also triggering tax fights, higher power prices, and pushback from locals.
Ohio took the top spot in CNBC’s 2026 state business ranking, coming in nine points ahead of North Carolina. The state moved up as the survey focused more on infrastructure, energy, and build-ready sites, using its industrial roots to push a power-and-logistics story.
That’s the story for investors. More than just a short-term PR boost, the results give a look at what’s next for big capital projects. Big players in AI data centers, battery plants, aviation supply, chip fabs, and manufacturing with big warehouse footprints want sites with land, ready power, rail, road access and speedier permits.
CNBC’s scoring system now puts more weight on those factors. Infrastructure got 440 points, the most of any category. “Cost of doing business”—taxes, wages, utilities, insurance, property—was worth 285 points. Economy, workforce, and quality of life still had weight, but the 2026 list favors states that build. Versant Press Room
| CNBC 2026 scoring signal | Weight / result | Why it matters to investors |
|---|---|---|
| Infrastructure | 440 points, 17.6% | Access to power, transport, water, broadband and sites now shapes risk in picking a location |
| Economy | 415 points, 16.6% | Fiscal stability and growth still matter for incentives and demand |
| Workforce | 345 points, 13.8% | Not enough skilled labor continues to be a roadblock for factories and data centers |
| Cost of doing business | 285 points, 11.4% | Taxes, utilities, real estate, insurance all cut into margins |
| Ohio score | 1,623 / 2,500 | Ohio comes in nine points above second-place North Carolina |
Ohio took the top spot for infrastructure and cost of doing business, landing in the top 10 for economy, access to capital, cost of living, and technology and innovation, Ohio Tech News reported, citing CNBC’s rankings. The state jumped from No. 5 last year to No. 1, marking its fifth year in a row of gains.
Ohio Governor Mike DeWine said the state’s “long-term workforce and economic development strategy is working.” JobsOhio CEO J.P. Nauseef called coordination between the state, employers and local development groups one of Ohio’s “greatest competitive advantages.” Both are political lines, but there are numbers to back them up. JobsOhio
| State | CNBC 2026 rank | Read-through |
|---|---|---|
| Ohio | 1 | Ohio’s win came on the back of infrastructure and cheap operating costs |
| North Carolina | 2 | Finished nine points behind; still the top rival in this ranking |
| Virginia | 3 | Virginia is still pushing Ohio with strength in data centers and federal demand |
| Texas | 4 | Texas is a big player on labor, energy and manufacturing scale |
| Connecticut | 23 | Moved to 23rd from 28th as other high-cost metrics improved |
Connecticut moved up five spots, according to Hartford Business Journal, showing that CNBC’s new ranking isn’t just about cheap states. The formula now factors in states with reliable infrastructure, skilled workers and operating strength, even if they’re less affordable.
Ohio’s data-center demand is shaping up as the main test. SB Energy, tied to SoftBank Group Corp. (TYO:9984), and AEP Ohio, part of American Electric Power Company Inc. (NASDAQ:AEP), are planning a 10-gigawatt data center campus on the old Portsmouth property in Pike County. SB Energy has put up $4.2 billion for transmission. A gigawatt is a big chunk of power—here, it means the site is aimed at energy-heavy AI computing.
Manufacturing is showing the same trend. JobsOhio pointed to projects from Intel Corp. NASDAQ:INTC with semiconductors, Joby Aviation Inc. NYSE:JOBY in air mobility, Anduril Industries in defense, and the LG Energy Solution Ltd. KRX:373220 and Honda Motor Co. NYSE:HMC battery plant. All are listed as big players in Ohio’s growth.
The win isn’t a sure thing. Ohio put new data-center tax incentives on hold in May after the bill for its tax breaks blew past estimates, with the state saying it will hit $554 million this year and almost $1.6 billion next year. Rising local pushback against large data centers, concern about electric bills and labor shortages could slow growth if new projects hit towns harder than they add jobs.
Steve Stivers, who heads the Ohio Chamber of Commerce, said it flat: “rankings aren’t permanent.” For investors, that’s probably the best way to look at it. CNBC’s 2026 list doesn’t mean it’s time to buy Ohio—it just points to where the next battle over power, permits and industrial growth might land. JobsOhio
