Are business conditions in swing states better now than they were in 2020? This is the data | Real Time Headlines

Five of the seven battleground states in the 2024 presidential election have improved their overall business climate during the Biden-Harris administration, according to an annual CNBC report. America’s Best States for Business study. But that doesn’t necessarily mean states will be better off economically, as during an election cycle when the economy continues to grow Issues ranked at or near voters’ top concerns.

Since 2007, CNBC has been ranking all 50 states in ten competitiveness categories to determine the best overall states for doing business. There are dozens more behind the rankings index Provides detailed information on the business and economic environment in each state.

We compared the latest Rankingpublished in July, from 2019 — Data from the final year before the Covid-19 pandemic was, in many ways, the high point of the Trump economy. Of the seven biggest battlegrounds in polls and Electoral College influence, only Nevada and Wisconsin fell in their overall rankings.

Five other battleground states — Arizona, Georgia, Michigan, North Carolina and Pennsylvania — all improved their rankings.

Of course, competitiveness is complex. It often has as much, if not more, to do with national policy than what happens in Washington. Still, the Trump and Harris campaigns have plenty of statistics to claim or get away with.

Here’s how the business climate breaks down on the battlefield.

TSMC first announced in 2020 that it would be headquartered in the United States Arizona with a Investment of US$12 billion ——A major victory for the Trump administration.

But Arizona’s semiconductor industry can be traced back to Motorola in the 1950s, with CHIPS and the Science Actsigned into law by President Biden in 2022.

stimulated CHIPS Act funds $6.6 billionTSMC has increased investment in Arizona to $65 billion, including three giant chip manufacturing plants. Intel is investing $30 billion. Arizona currently ranks third in semiconductor manufacturing and related facilities, behind California and Texas, according to the company. Semiconductor Industry Association.

The state has the infrastructure to handle all of these developments, including one of the most reliable power grids in the country. But it has struggled in other areas, such as rising costs of living.

Arizona’s workforce rankings fell to sixth place as state workforce training programs try to keep up with demand. The state ranks 47th in education, with larger class sizes but underfunded schools. Last year, TSMC declare The planned start of production in Arizona this year has been pushed back to 2025 due to labor shortages.

The Biden administration has designated Phoenix as a workforce hub under another CHIPS and Science Act program designed to encourage public-private partnerships and nourish Arizona’s relatively dry talent pipeline.

Georgia—No. 1 in the nation for infrastructure

GeorgiaTop-ranked infrastructure puts the Peach State at the heart of any company’s site search. The state has been a powerhouse in the region, starting with Atlanta’s Hartsfield-Jackson International Airport, the busiest airport in the world. The airport will spend $45 million in renovations Bipartisan Infrastructure Act.

But much of Georgia’s infrastructure strength is homegrown, including the state’s highly regarded site preparation program, Georgia Ready to Accelerate Development (GRAD)currently offering 60 ready-to-use sites. This has helped the state become a hub for electric vehicle production, with Kia, modern and Rivian All positioning facilities there. Georgia Department of Economic Development have Since 2018, more than $27 billion has been invested in electric vehicles.

this Inflation reduction methodVice President Kamala Harris has cast the deciding vote in 2022 to boost the electric vehicle industry with new and extended tax credits. But Republican Gov. Brian Kemp claim The IRA did the opposite, pushing the industry too quickly and fomenting a backlash against the technology.

Georgia ranks 40th in quality of life due to poor health care, weak worker protections and Six-week abortion banthe Georgia Supreme Court reinstated the rule this month.

MICHIGAN — Whitmer’s rise is facing economic headwinds

Michigan Breaking into the top ten in 2023, it climbed to ninth this year after years of mediocrity.

The Wolverine State is an extremely affordable place to live, with the cost of living ranked third in the nation. Michigan also ranks solid in the cost of doing business, thanks in large part to generous incentives. The state also improved its business-friendliness ranking by reducing regulations.

All of this has made Gov. Gretchen Whitmer a rising Democratic star and a busy agent Campaign for Harris. In 2022, Michigan Democrats achieved their first three consecutive victories in state government in 40 years, winning control of both houses of the state legislature in addition to the governorship. The new majority quickly repealed Michigan’s right-to-work law, approved new anti-discrimination protections and enshrined abortion rights.

Whitmer promised The changes would help attract workers to the state, but so far no progress has been made. Michigan lags the nation in attracting workers, according to top state data.

Economic growth was sluggish last year but is starting to show signs of improvement in 2024. Ford Motor Company arrive downsize The company plans to invest $3.5 billion to build a battery plant in Michigan. The state, in turn, cut the $1.7 billion in incentives it was set to pay out, revising the plan to $409 million.

Nevada — High unemployment cuts both ways

Nevada’s highest in the nation unemployment As of August, interest rates were 5.5%, which is nothing to brag about. It also doesn’t help voter sentiment as Election Day approaches. But for employers, it means the Silver State has an abundance of available talent. That’s one reason why Nevada’s workforce ranks among the top 10 in 2024.

nevada It also attracts workers to move there, ranking 8th in this year’s Lightcast Talent Attraction Index produced exclusively for CNBC. Economic growth will slow in 2024, but a strong performance last year helped Nevada’s economy rise to eighth place.

But Nevada’s overall competitiveness has suffered during the Biden-Harris administration. The state’s education system is now the worst in the country. According to statistics, Nevada has the largest class sizes in the United States, with 24 students per teacher national education association data. Support for higher education is meager, with only one public community college. K-12 test scores rank 47th nationally.

Nevada ranks 46th in technology and innovation, but has a relatively small presence in key emerging industries such as semiconductors and artificial intelligence. The state did win the coveted Technology Center Last year, we developed the next generation of lithium-ion batteries under the Chip and Science Act.

North Carolina—Utility companies struggle to keep pace with growth

The Tar Heel state has been competitive since CNBC began ranking states in 2007, a contender for the top state almost every year — no matter who wins the White House. North Carolina Very close to the first ever top state three-peat. After winning consecutive first place 2022 and 2023the state slipped to second place Virginia By 2024, this number will increase by only 3 percentage points.

While North Carolina still has the nation’s third-best workforce, fourth-best economy, and ranks second north dakota In terms of business friendliness, the state fell to 20th in infrastructure as power and water facilities struggled to keep up with growth.

The growth has also hurt North Carolina’s cost of living and cost of doing business rankings, and more trouble is likely to come. Although the state has successfully weathered the insurance crisis that has gripped much of the country this year, Hurricane Helen This can be changed. North Carolina was among the areas hardest hit by the giant storm, which caused devastating flooding in the western part of the state not normally associated with hurricane damage.

Pennsylvania—Major Progress in Education

Democratic Gov. Josh Shapiro, who took office last year and moved into the House short list Vice President Harris’ 2024 running mate has made education, particularly school funding, a core issue.

“We have real challenges in education and the workforce that will hinder us in the future if we don’t act now,” Shapiro said during his annual budget speech in February.

The state has made some important progress. Currently ranked third in the field of education, second only to Virginia and Massachusetts. According to Shapiro’s priorities, the state ranks ninth in higher education funding, up from 34th in 2019. Association of State Higher Education Administrators.

pennsylvania It’s also a relatively affordable place to live. The fact that 144 million people live within a day’s drive improves the state’s otherwise mediocre infrastructure ranking.

But Pennsylvania’s economic performance is lackluster, ranking 34th. It probably doesn’t help that Pennsylvania is the twelfth most regulated state in the country, according to the agency. market center at George Mason University.

Pennsylvania lags the nation in the migration of college-educated workers to the state and has only 18 community colleges in a state of 13 million people. Both statistics hurt the state’s workforce rankings.

Wisconsin—U.S. dairy farms are going high-tech

President Trump promised in 2018 that the “Eighth Wonder of the World” would come to the Southeast Wisconsin This was a huge embarrassment to Trump and the then-governor. By Scott Walker At the time, Taiwanese electronics manufacturer Foxconn had largely abandoned plans to build a massive factory near Racine.

Walker is a Republican; promised Foxconn has received more than US$3 billion in national and local subsidies. By November 2018, it was clear that the deal was failing, potentially costing him re-election.

His Democratic successor, Governor Tony Evers, renegotiate Foxconn deal. today, Microsoft Under construction Data Center On the site, a small selection of the jobs promised by Foxconn are available. In addition, the country won Receive coveted Technology Center designation under the Chip and Science Act, and $49 million in grants to develop its booming bio-health sector.

Still, Wisconsin’s overall competitiveness ranking fell this year, largely due to a significant drop in its education rankings, which dropped from ninth to 26th in 2019. State support for higher education has declined significantly. Wisconsin ranks 41st in this metric this year, up from 4th in 2019.