N.C. still a great state for business

Our neighbor to the north, the Old Dominion, comes out on top again. But the Old North State has nothing to be ashamed of, according to CNBC's Top States for Business Rankings.

Virginia topped our inaugural study in 2007 with Texas at number two. In 2008, they switched positions and Texas took the title. In 2009, it was Virginia/Texas. In 2010, it was Texas/Virginia.

This year, Virginia powers back to the top spot with the best overall score in the history of our study — 1,660 out of 2,500 points. Texas slips back to number two with a respectable 1,578 points. ...

Our fifth annual study once again puts all 50 states to the test, measuring them on 43 different metrics in 10 key categories of competitiveness. We weight those categories based on how frequently the states use them as selling points to attract business. That way, we hold the states to their own standards, and tell you how they measure up.

This year's categories and weightings, for a total of 2,500 points, are:

• Cost of Doing Business (350 points)

• Workforce (350 points)

• Quality of Life (350 points)

• Infrastructure & Transportation (325 points)

• Economy (300 points)

• Education (225 points)

• Technology & Innovation (225 points)

• Business Friendliness (200 points)

• Access to Capital (100 points)

• Cost of Living (50 points) ...

Top 10 States for Business
1. Virginia
2. Texas
3. North Carolina
4. Georgia
5. Colorado
6. Massachusetts
7. Minnesota
8. Utah
9. Iowa
10. Nebraska