Virginia gets No. 2 business ranking from CNBC
- July 14, 2010
CNBC named Virginia No. 2 on its annual list of Top States for Business, coming in just below Texas.
Virginia and the Lone Star State have volleyed back and forth for the list’s No. 1 spot since CNBC launched the ranking in 2007.
CNBC ranks states based on 40 metrics in 10 categories of business, including: cost of doing business, quality of life, economy, work force, education, business friendliness, transportation and infrastructure, technology, access to capital and cost of living.
Virginia did especially well in the business friendliness category, based on its legal and regulatory environment. It came in No. 2 behind Delaware in that category.
CNBC also lauds the stability federal government contracts and military play in the state’s economy.
However, CNBC noted that higher unemployment in some regions brought Virginia’s economy ranking down four places to No. 11. In addition, its education ranking fell six places to No. 13 as school spending decreased.
Rounding out the top five on the list were Colorado, North Carolina and Massachusetts.