Virginia is once again the best state to do business – drawing top honors overall in a 50 state survey conducted by CNBC [1].
Virginia has been the best state to do business in America for three of the five years CNBC has been doing the study and the Commonwealth has taken 2nd place in the other years as follows:
2007 – Virginia Number 1; Texas Number 2
2008 – Texas Number 1; Virginia Number 2
2009 – Virginia Number 1; Texas Number 2
2010 – Texas Number 1; Virginia Number 2
2011 – Virginia Number 1; Texas Number 2
This year, Virginia got the highest score ever earned by a state in CNBC’s study: 1,660 out of 2,500 points. On the negative side, Virginia ranked 24th and 26th in cost of living and quality of life categories, respectively. However, we were rated in the top ten best states to live for the categories of economy, business friendliness, access to capitol, and education.
The CNBC study claims [2]to measure “the states by their own standard: the selling points they use to attract business.”
Policymakers should note that being a “right-to-work” state is a big plus with businesses and a factor in how the survey scored states. Low regulation and litigation costs also help make Virginia the best state in America to do business.
The worst state [3] for business in America? Rhode Island.