Virginia has improved its ranking on Frobes’ latest list of Best States for Business, and is now among the top five American states for attractive incentives and policies.
The state is now ranked fifth, one spot above from last year.
“Virginia ranks second for its regulatory climate because of its strong incentive offerings and business-friendly government policies,” the business magazine said.
The magazine assess states across six broad categories: business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life.
North Carolina tops the list followed by Texas, Utah and Nebraska ahead of Virginia.
Welcoming Virginia’s rising business outlook, Governor Terry McAuliffe said the position represents a jump from No.6 in the 2016 survey and No.7 in 2015.
He noted in a statement that Virginia has placed in the top 10 since the ranking’s inception in 2006, and ranked among the top two states every year from 2006 through 2013.
“The Commonwealth’s advancement in major national rankings like Forbes.com is strong evidence of our success in building the new Virginia economy,” said Governor McAuliffe. “We are working tirelessly with our economic development partners across the Commonwealth to put Virginia on top, and today’s announcement demonstrates that our efforts are working. We are committed to building on this upward trajectory by offering the infrastructure, regulatory environment, and robust workforce to ensure Virginia is the premier business destination in the United States.”
“Virginia’s improved standing in Forbes.com’s Best States for Business rankings is a testament to the commitment of Governor McAuliffe’s administration and all of our allies at the state, regional, and local levels to make the Commonwealth the premier destination for business,” said Secretary of Commerce and Trade Todd Haymore.
“There is still work to be done to return Virginia to its top standing, and we will continue to build on this positive momentum working with members of the General Assembly and our public and private sector partners.”
