Texas remains one of the best states in the country to do business, ranking No. 4 in CNBC's 2026 America's Top States for Business study released July 9, though it slipped from the No. 2 spot it held a year ago.
Ohio claimed the top ranking for the first time in the study's history, with North Carolina second, nine points behind, and Virginia third. Minnesota rounded out the top five behind Texas.
The state's core business case remains formidable. CNBC ranked Texas No. 1 in the nation for Workforce and No. 2 for both Economy and Access to Capital. The study also credits the state's logistics muscle: major ports, international airports, rail systems and highway infrastructure that make Texas one of the country's leading trade and shipping hubs. A favorable tax structure and a steady stream of corporate investment have kept the state near the top of the rankings year after year.
What holds Texas back, according to CNBC, is how it scores on livability. The study ranked the state No. 49 of 50 for Quality of Life, citing persistently high crime, poor healthcare and a lack of inclusiveness. Those categories weigh against the state's economic strengths in the study's scoring, which grades all 50 states across ten categories of competitiveness.
The slide from second to fourth comes after a period of momentum: Texas ranked No. 6 in 2023 before climbing to No. 2 in 2025. CNBC has published the study since 2007, and Texas has finished near the top of the rankings for most of its history.
