Texas overcame Virginia as the best state for business, according to CNBC’s annual study.
In its praise of the Lone Star State, CNBC said Texas had been boosted in its transportation ranking to No.1. In an ironic twist, the ranking came the same day as the Virginia General Assembly failed to compromise on additional funding for transportation. (However, Virginia jumped from No. 22 in 2007 to No. 13 in 2008 for that category.)
CNBC said Virginia is “still a great place to do business.” But it was hurt by the downturn of the economy. Its ranking in that category fell from No. 3 to No. 17.
CNBC evaluated states in 10 categories. Virginia fared best in the “business friendly” category, ranking No. 2 . Virginia’s work force also ranked well, at No. 8.
For more information visit CNBC. Virginia ranked first in Forbes.com’s list of the top states for business for both 2007 and 2008.
Utah, Idaho and Colorado rounded out CNBC’s top five states for doing business. Mississippi, West Virginia, Rhode Island, Hawaii and Alaska rounded out the bottom of the list.
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