CHARLOTTE, N.C. — North Carolina is no longer considered the best state for business, according to CNBC.
It's a title the Tar Heel State lost after remaining in the top spot for two years in a row. Virginia edged out North Carolina by just three points in CNBC's grading scale.
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North Carolina lost its rank due to the infrastructure category, which was this year's heaviest weighted category. CNBC reported the state's utilities are to blame. The EPA said North Carolina needs $20 billion in water utility maintenance over the next 20 years.
CNBC cited electricity concerns as well. Data from the U.S. Energy Information Administration said electricity customers deal with nearly eight hours without power every year.
Virginia is taking the top spot in large part due to its bipartisan work that includes education reforms and a plan that didn't raise or lower taxes.
WCNC Charlotte's Where's The Money series is all about leveling the playing field in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded.