Virginia is for entrepreneurs

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Virginia is one of the top five states to start a business, according to a U.S. News & World Report.

The magazine cited Virginia’s low taxes and educated work force as top reasons for its ranking.

The magazine’s Web site,, ranked the best seven states to start business in January. On that list, Virginia ranked second behind Washington. This week, the magazine printed an abbreviated version of its rankings.

The magazine said, “This state is not just “purple” in terms of its voting patterns. It also mixes the highly educated workforce and technological sophistication of blue states like Massachusetts with the low taxes and spending of red states like Texas. Virginia is one of the leaders in the information technology revolution, with the highest number of IT occupations in non-IT industries as a share of total jobs. Virginia also lands in the top 10 of states with the lowest consumption taxes.”

U.S. News & World Report ranked states based on two studies: the 2008 New State Economic Index from the Kauffman Foundation and the Information technology and Innovation Foundation, and the 2008’s Small Business Survival Index from the Small Business and Entrepreneurship Council.

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