by Morgan Sweeney
Virginia has again ranked first in CNBC’s annual America’s Top States for Business index, its sixth time topping the chart since CNBC started the survey in 2007.
States are ranked on 128 metrics in 10 “broad categories of competitiveness” selected through consultation with business and policy specialists and the states.
Those categories are weighted based on how often they’re mentioned in states’ economic development marketing materials. Infrastructure was a top buzzword this year, prompting CNBC to weight it as the most important category for business competitiveness, above workforce, for the first time.
That was good news for the commonwealth, as Virginia earned its highest rankings in education, infrastructure and business friendliness, placing first, third and fifth.
“Economic development is a team sport, and Virginia’s made giant strides in business-ready sites, workforce development, regulatory reduction, infrastructure investment and all-of-the-above power solutions,” said Gov. Glenn Youngkin. “I am thrilled that our great Commonwealth has been named America’s Top State for Business.”
CNBC cited Virginia’s Business Ready Sites Program, a program the General Assembly created in 2015, which has received greater funding in recent years, and the state’s transportation ecosystem as some of the reasons for its infrastructure ranking, according to a news release from the governor’s office.
Virginia ranked eighth for access to capital and ninth for its workforce. Virginia’s Talent Accelerator Program has also gotten some attention lately and was ranked no. 1 Customized Workforce Training Program in the U.S. by Business Facilities Magazine in 2023 and 2024.
The commonwealth’s lowest rankings were for cost of living, quality of life, and cost of doing business, where it placed 19th, 19th and 24th.
CNBC has previously named Virginia America’s Top State for Business in 2007, 2009, 2011, 2019 and 2021.
– – –
Morgan Sweeney is a staff writer covering Virginia and Maryland for The Center Square. Morgan was an active member of the journalism program as an undergraduate at Hillsdale College and previously freelanced for The Center Square.
Photo “Virginia Businesses” by Famartin CC BY-SA 4.0.
