U.S. states with the best infrastructure: Georgia, Arizona, Virginia

With hundreds of billions of dollars in new federal infrastructure spending under the Bipartisan Infrastructure Law, the CHIPS and Science Act and the Inflation Reduction Act, companies are eager to cash in. And states are scrambling for their piece of the pie.

“We have funding that goes to projects that come from every state, city, airport authority or transit agency you can think of,” Transportation Secretary Pete Buttigieg told CNBC.

That means some 54,000 projects — and counting — under the Bipartisan Infrastructure Law alone.

But Buttigieg said it is not just about who can win the most federal dollars. He said the nation learned the hard way following the pandemic about the need to keep supply chains moving, and what happens when they come under pressure.

“To me, it indicates just how much work there is to do in this country,” he said.

For this year’s CNBC annual competitiveness study, America’s Top States for Business, the Infrastructure category carries the most weight in the methodology because it is the most talked about factor in state economic development marketing.

To rate each state’s infrastructure, we look at roads, bridges, ports and airports. We also consider broadband connectivity, water utilities, and the power grid. We consider each state’s risk from climate disasters including wind, floods, and wildfires. We look at which states offer the most sites for development. New in 2024, we evaluate so-called site readiness programs set up in many states to link companies with shovel-ready sites.

Some states have a lot of work to do on their infrastructure. Other states are leading the way in this infrastructure revival. The following 10 states are America’s best.

9. (tie) New York

Looking for prime office space in New York City? There has rarely been this much to choose from. According to New York City Comptroller Brad Lander, the pandemic-led exodus from the city has only accelerated. The vacancy rate in Manhattan hit 16% in May, a level not seen in 30 years, and rents are dropping as a result.

But the Empire State is putting out the welcome mat in other, more positive ways. The state’s FAST NY Shovel-Ready Grant Program is among the most generously funded site readiness programs out there, offering up to $300 million in grants to prepare sites.

New York is also one of America’s best-connected states, according to BroadbandNow, with good access to fast, affordable service for under $60 per month. And the state’s revitalized airports are in heavy demand.

This being New York, though, more traditional types of infrastructure, such as water systems and roads, are under serious physical stress. And the 33 minute average commute is the longest in the nation, according to the Census Bureau. There are also serious…