Jul 11, 2012
Virginia slips to #3 state for business
11 Jul 2012
Posted by Andrew Kantor
For the first time in, well, a while, Virginia has slipped to third place in CNBC’s annual “America’s Top States for Business” ranking, behind Texas and Utah. (And we’re only a smidge ahead of North Carolina.)
What hurt us? Infrastructure — specifically, transportation. That, and the state’s reliance on government spending.
“Infrastructure — specifically the state’s perpetually clogged highways — has long been an issue in fast-growing Virginia, and there is fresh evidence this year that the state is having trouble keeping pace. With some of the country’s toughest commutes, the state dipped to number 33 in the category, down from 10th a year ago,” CNBC said.
We’ve been #1 for three of the last six years, but this year we dropped in too many categories, with lower rankings in “cost of doing business,” “education,” “technology and innovation,” and “business friendliness.”
As the report put it, “you can’t post that many declines and stay on top.”