Virginia has held its ground as the fourth-best state business climate in the U.S., according to a new ranking by Site Selection magazine.
In the magazine’s annual list of top five state business climates, Texas ranked first, followed by Georgia, North Carolina, Virginia and South Carolina. The states ranked fifth through 10th were: Indiana, Louisiana, Tennessee, Ohio and Florida.
North Carolina had held the top spot in the survey for nine of the past 10 years.
Apparently helping Texas this year was a law passed during the 2011 legislative session making the loser pay in failed lawsuits. The goal of the legislation is to discourage frivolous suits.
The rankings are determined by a survey of corporate real estate executives and the states’ performances on the Conway Data New Plant Database, which tracks new and expanded business facility activity.
The survey of executives alone still placed Texas at No. 1 followed by North Carolina, Georgia and Florida, with Virginia tied at fifth with Tennessee. The rest of the top 10 included South Carolina, Ohio, Indiana and Alabama.
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