The cost of doing business in Oklahoma is among the lowest in the country, but Oklahoma is far from being the best state for business.
While the state ranks high in cost of living (#18), cost of doing business (#1) and overall business friendliness (#20), the remaining seven categories sit below the halfway point of the 50 states.
CNBC’s annual America’s Top States for Business study, now in its 19th year, has crowned North Carolina the best state for business, with high marks in economy, workforce, business friendliness, and education.
States were scored out of 2,500 total points from the 10 categories. At the top of the chart, North Carolina earned a total of 1,614 points; Oklahoma garnered 1,229 points in comparison.
Overall, Oklahoma ranked 37th in the nation for business, beating out states like Vermont, Oregon, and West Virginia, but falling short of New Hampshire, which ranked 36th.
Here’s where Oklahoma placed among the 10 categories.
More: Oklahoma ranked in worst 10 for quality of life by new survey. Here’s why
Oklahoma’s strengths
The survey pointed out three strong categories for Oklahoma. They are as follows:
Cost of Doing Business – #1
Business Friendliness – #20
CNBC calculated the cost of doing business by examining each state’s ability to ease business expenses and factoring in wage and utility costs. This year, however, CNBC is giving more consideration to property-casualty insurance and forecasted premium increases, as well as incentives and tax breaks for businesses.
All of which the Sooner state exceeded other states, placing it at the top for the cost of doing business.
Oklahoma’s weaknesses
The survey ranked Oklahoma below the halfway point in seven of the 10 categories. These include:
Technology & Innovation (#42)
As the lowest category for Oklahoma, CNBC took note of the state’s education score, which considered the test scores, class size and educational spending. The survey also considered the number of colleges and universities in each state as well as the state support for higher education.
“A state’s education system is its main source for talent and an engine of innovation. It is also a key consideration for companies and families deciding where to put down roots,” CNBC wrote in its article.
In education, states could receive up to 110 points; Oklahoma scored 37, earning a D grade.
What are the best states for business?
These are the best states for business, according to CNBC:
This article originally appeared on Oklahoman: CNBC ranked Oklahoma among worst for business, but with some high marks