Virginia slides to #2 on best for business list

For the first time in the history of the Best States for Business rankings, Virginia isn’t number one. Because Virginia’s labor and energy costs rose at a faster rate than Utah’s, the Commonwealth was knocked down to number two.<!–break–>

“Virginia still boasts a very favorable business climate, with an educated labor supply and solid economic growth,” writes reporter Kurt Badenhausen in an online story announcing the latest list. “But Virginia’s business costs (namely labor and energy) have crept up, which allowed Utah to leapfrog it.”

Texas recently unseated Virginia for the top spot in the CNBC Top States for Business study, where the Commonwealth also finished second.

Virginia’s strong business climate helps assure a growing economy, which in turn helps support our housing markets.

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2 Responses to Virginia slides to #2 on best for business list

  1. Interesting! I never even knew Virginia was all that hospitable to business…what are your business and income taxes like?

  2. Strange study….or at least the way they came up with the rankings. I am not sure how Florida could be so far down the list in “cost of doing business” and so high in “workforce.” Generally speaking, Florida’s workforce is fairly uneducated and graduates with advanced degrees tend not to stick around the State for very long, due to lack of opportunity. Florida’s costs are a lot lower than in Virginia, having lived in both states and speaking from experience. Oh well.

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