Virginia moves up on list of top states for business

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Virginia rose to No. 4 in CNBC’s 2018 “Top States for Business” ranking, which was released in July.

The ranking represented Virginia’s continued improvement on the annual list since the state fell from No. 1 in 2011 to No. 13 in 2016. Virginia was seventh on the 2017 list.

Virginia’s decline on various rankings had alarmed state officials and business leaders.

The state received high marks on this year’s list for its workforce and business friendliness (ranking third and fifth, respectively).

Virginia received lower marks in the cost of living and cost of doing business categories, ranking No. 33 and No. 34. “The workforce reigns supreme in the Old Dominion, but high wages, rent and living costs are a royal pain,” CNBC said.

The March issue of Virginia Business examined an ongoing study by Virginia Tech’s Pamplin College of Business aimed at improving the commonwealth’s rankings.

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