Was Florida ranked the best state economy for three consecutive years?

Gov. Ron DeSantis was right when he touted that Florida’s economy has been ranked the best in the U.S. since 2023 in studies published by CNBC.

The annual studies are an overview of the best states for business in the U.S., and the economy is just one category. Florida has ranked third (2025), fifth (2024) and eight (2023) in overall rankings, but has consistently topped the charts when focusing only on economy.

Florida didn’t fare as well in other categories in the 2025 study. That includes cost of living (48th) and quality of life (22nd). 

CNBC determines the strength of a state’s economy by factoring in areas like job growth, state budget and revenue, the health of the real estate market and, for the first time in the study’s history, the state’s tariff risks.