Pennsylvania moved up four spots to rank 13th in CNBC’s America’s Top States for Business 2026 rankings, according to an announcement by Governor Josh Shapiro. The ranking marks the state’s highest position in the CNBC study on business friendliness in the last 15 years and places Pennsylvania as the top state for business in the Northeast.
CNBC Rankings and Category Performance
According to CNBC’s 2026 assessment, the network evaluated states across multiple metrics, including infrastructure, workforce, quality of life, technology and innovation, and, for the first time ever, ease of permitting. Pennsylvania secured the 5th spot nationally in the technology and innovation category. According to Governor Shapiro, the state’s climb is tied to administration policies focused on cutting red tape and speeding up permitting.
Moody’s analysis cited by the administration identifies Pennsylvania as the only state in the Northeast with a growing economy. Furthermore, U.S. Bureau of Labor Statistics data from last year ranked the Commonwealth third in the nation for job growth.
“Pennsylvania is winning deals and seeing record economic growth because we’re focused on what matters – building a strong workforce, cutting unnecessary red tape, and creating an environment where businesses can grow and create good-paying jobs,” Governor Shapiro said.
Economic Development and Permitting Reform
Department of Community and Economic Development Secretary Rick Siger attributed the rising national ranking to deliberate policy shifts, including the launch of PA Permit Fast Track. Since taking office, the Shapiro administration introduced the state’s first economic development strategy in nearly two decades.
State officials report that these economic strategies have attracted over $41 billion in private-sector investment, created more than 24,000 good-paying jobs. Major economic milestones include a $3.5 billion investment by Eli Lilly to construct a pharmaceutical manufacturing facility in Lehigh County, representing the largest life sciences investment in PA history.
Corporate Relocations and Industrial Expansion
Streamlined licensing and permitting processes have drawn several corporate headquarters and manufacturing expansions to the Commonwealth:
- Excelitas Technologies relocated its headquarters from Massachusetts to Pittsburgh.
- Adare Pharma relocated to Northeast Philadelphia.
- Eos Energy moved its headquarters from New Jersey to Pittsburgh.
- Nokia expanded its facilities in the Lehigh Valley, while McCarl’s LLC expanded its facilities in Beaver County.
To sustain this momentum, the Shapiro administration is investing $500 million in site development, which includes $400 million allocated specifically for the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) Program to make more