VIRGINIA BEACH, Va. (WAVY) – On Thursday, Virginia once again placed first in CNBC’s annual ‘America’s Top State for Business‘ ranking.
It’s the sixth time since 2007 the Commonwealth has received the accolade, that essentially means that when looking at specific factors, Virginia delivers more effectively than anyone else on the factors that mean most to businesses.
CNBC measures 128 different metrics across 10 categories in all 50 states in order to determine who tops their list.
This year, existing infrastructure was weighted more than every before, and Virginia received an A grade.
When a business chooses to invest and grow in Virginia, we’re promising best-in-class talent, infrastructure, power solutions and business-friendly environment. Our administration has facilitated waves of economic investment and business expansions to reinvigorate growth and opportunity across Virginia. The Commonwealth has experienced record job growth and has welcomed companies committing over $74 billion i capital investment from major corporations like Amazon Web Services, The LEGO Group, Raytheon and Boeing, along with major expansions from others like Hilton, Northrop Grumman and Framatome. 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. I am thrilled that our great Commonwealth has been named America’s Top State for Business
Gov. Glenn Youngkin
Gov. Glenn Youngkin (R-Va.) touted the state’s Right to Work law, All-American All-of-the-Above Energy Plan, and military presence for reasons the state claimed the top spot.
Virginia was recognized for having “shovel ready sites,” but Youngkin said keeping the momentum on that front is vital.
Youngkin, who himself was in business before moving into politics, has taken aim at those who oppose development.
“With growth comes change and change is sometimes hard,” Youngkin said. “But ‘no’ is not an answer that allows us to aspire to the greatness that Virginia will have. Therefore we are working intently with localities in order to foster a growth mindset.”
Virginia was also named America’s Top State for Business in 2007, 2009, 2011, 2019 and 2021.
Currently, Virginia is competing to win over $550 million in funds for site development in order to accelerate construction for employers before they even come to Virginia.
The Virginia Talent Accelerator Program, which works to accelerate facility start-ups, was also ranked the number one Workforce Training Program in the U.S. by Business Facilities in 2023 and 2024.
