Counting troubles and blessings

by Robert C. Powell III
Editor, Virginia Business
Novermber 2006

Virginia is known as a pro-business state. In fact, Forbes.com, the Web site for the national business magazine, recently named Virginia the best state for business in the country.

But all is not well, say the state’s manufacturers. They point out that the number of high-paying factory jobs is dwindling in Virginia, and they say the state is not doing enough to attract new manufacturers and encourage expansion by existing companies. In this month’s cover story, Charlottesville-based writer Jack Milligan looks at Virginia manufacturers’ complaints that their tax burden is too high in comparison to other Southern states.

Prospects for Virginia hospitals in a major disaster also are less than ideal. Fredericksburg-based writers Marjolijn Bijlefeld and Robert Burke find that hospitals have been beefing up their preparedness with $50 million in federal funding in the past four years. Still, doubts remain about how long medical facilities could sustain a massive emergency response.

The good news is that currently many hospitals are expanding and some have revamped their emergency rooms. One Virginia chain, Bon Secours, promises to see emergency room patients in 30 minutes or less at its Richmond-area hospitals, a trend checked out by Managing Editor Paula Squires.

While manufacturers and hospitals count their woes, the accounting profession is enjoying a heyday. Demands placed on business by the Sarbanes-Oxley Act and other regulations have created a huge demand for accountants. This issue profiles some of Virginia’s best as we present our annual Super CPAs list. As part of our coverage of the profession, Clifford-based writer Heather B. Hayes reports that young accountants are using their marketability to command higher salaries and create careers that are more conducive to their lifestyles. They may wind up reshaping the low-profile image of their profession: accountants with attitude.