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Virginia Politics
Posted at 04:59 PM ET, 06/28/2011

Va. ranked top state for business

Virginia is back on top.

After falling to second place last year, CNBC announced Tuesday that Virginia returned to the top spot in its rankings of the best states for business.

The commonwealth received the highest point total in the history of the rankings and finished in the top half of every category ranked.

Virginia held the top spot in 2009 and 2007, the first year of the network's ranking. Texas was in the top spot in 2010 and 2008.

“Our focus, from day one of this administration, has been to put in place the policies that will help private-sector businesses create those jobs in the commonwealth and get our economy back on track,’’ Virginia Gov. Bob McDonnell (R) said in a statement. “We’ve done that by keeping taxes low, getting government spending under control, having a strong right-to -work law and making smart investments in transportation, economic development and higher education.”

CNBC scored each state using publicly available data on 43 different measures of competitiveness. States received points based on their rankings in each metric, which were then separated into 10 broad categories: cost of doing business, workforce, quality of life, economy, infrastructure and transportation, technology and innovation, education, business friendliness, access to capital and cost of living.

“Virginia has been working hard to attain this status through a series of efforts, including reducing spending, investing in job creating programs, improving workforce development programs and selling Virginia around the world,’’ said Lt. Gov. Bill Bolling (R), who serves as the state’s chief jobs creation officer. “This ranking is proof that our efforts are paying off.”

Virginia ranked first on Forbes magazine's list of best states for business — and has for the past four years. In August, Pollina Corporate Real Estate said Virginia was the country's most pro-business state in August. But in October, Utah beat out Virginia on Forbes Magazine's list of the best states for business, knocking the commonwealth out of the top ranking it has held for the past four years.

By  |  04:59 PM ET, 06/28/2011

 
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