Virginia moves up in Forbes’ ‘Best States for Business’ ranking

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Virginia has moved up in Forbes’ “Best States for Business” ranking. The commonwealth ranks No. 6 on the 2016 list, up from No. 7 last year. Utah was named the Best State for Business for the third year in a row.

Forbes noted that the commonwealth ranked as the top state for business as recently as 2013, “but higher business costs and a declining economic climate have pushed it lower.”

The list ranks states in six categories: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Virginia received high marks for its  “labor supply’’ and “regulatory environment,” (Nos. 2 and 3, respectively).

Besides Utah and Virginia, other states ranked in the top 10 on the list are: North Carolina, No. 2; Nebraska, No. 3; Texas, No. 4; Colorado, No. 5; Georgia, No. 7; North Dakota, No. 8;  Washington, No. 9: and South Dakota, No. 10.

Among surrounding states: West Virginia ranked No. 50; Maryland, No. 31; Kentucky, No. 37; and Tennessee, No. 17.

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