Ohio Named CNBC’s Top State for Business in 2026
Ohio is CNBC’s No. 1 State for Business in 2026, its first top finish since the study began in 2007, edging North Carolina as infrastructure becomes the highest-weighted category.
Ohio has taken the top spot in CNBC’s 2026 America’s Top States for Business rankings, its first No. 1 finish in the study’s 20-year history. Ohio was named the No. 1 state for business in CNBC’s 2026 America’s Top States for Business rankings, the first time the state has held the top spot since the study launched in 2007.
The Buckeye State edged out defending champion North Carolina by a narrow margin, with infrastructure emerging as the year’s most heavily weighted category as companies chase power, water, and transport access for data centers and advanced manufacturing.
How Ohio got here
Ohio climbed from No. 5 in 2025 to No. 1 in 2026, capping a run of five straight years of improvement and a rise of 33 spots since 2010, when Ohio ranked No. 34.
It is also the first time a Midwestern state has led the rankings since Minnesota in 2015. Ohio scored 1,623 points to capture this year’s crown out of 2,500 possible.
What tipped the scales
For 2026, Infrastructure became the top-weighted category for the first time, accounting for nearly 18% of a state’s score, as CNBC found states leaning harder than ever on their roads, bridges, ports, airports, project sites and utilities to win companies over.
For the first time in 2026, CNBC factored ease of permitting into its rankings. Economy, last year’s top category as President Donald Trump’s second-term agenda took shape, slipped to second place, followed by Workforce.
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The corporate footprint
Ohio’s strong economy contributes to its overall showing as America’s Top State for Business in 2026. Ohio ranks third in the nation for foreign direct investment, according to the Commerce Department. The state economic development organization, JobsOhio, notes that some 4,000 companies from 42 countries are operating in the state.
The Buckeye State has a strong domestic corporate base as well, with 21 S&P 500 companies calling the state home. That mix of foreign capital and blue-chip anchors is what economic developers have been pitching to site selectors.
Where it isn’t all clean
Ohio’s credit rating is pristine, but there are some weak spots. Ohio could only last about 60 days on its total fund balance alone, according to the Pew Charitable Trusts.
The housing market has seen relatively weak performance over the past five years, as measured by ATTOM Data Solutions figures on seller gains over the period. High property taxes haven’t helped.
Options market and stocks to watch
Ohio-based names and companies with significant Ohio operations could see incremental attention as the top-state narrative circulates:
Watch PG, headquartered in Cincinnati, for any commentary tying its footprint to state-level cost advantages. Watch PRGO and F for manufacturing-linked flow, given Ohio’s heavy auto and industrial base.
Watch INTC for updates on its Licking County fab project, which is central to Ohio’s infrastructure and workforce pitch. Also watch BTDR, which is building a cryptocurrency mining data center under construction in Massillon, Ohio, as a proxy for the state’s data-center and power buildout story.
For more on state-level economic shifts and how they shape flow, see other coverage on Unusual Whales news.
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