Virginia climbs up CNBC’s ‘Top States for Business’ ranking
Virginia has risen to No. 4 in CNBC’s 2018 “Top States for Business” ranking, climbing three spots from last year’s position at No. 7.
“The workforce reigns supreme in the Old Dominion, but high wages, rent and living costs are a royal pain,” CNBC said about Virginia’s 2018 ranking. CNBC scores states in 10 categories, including economy, cost of living and education.
The commonwealth last placed in the top five of the ranking in 2013. Virginia was most recently No. 1 on the list in 2011.
The state received high marks on this year’s list for its workforce and business friendliness (Ranking 3 and 5, respectively). It received lower marks in the cost of living and cost of doing business categories, ranking No. 33 and 34.
Virginia’s overall rank on the list for the past five years is as follows: 2017 (No. 7); 2016 (No. 13); 2015 (No. 12); 2014 (No. 8) and 2013 (No. 5).
Texas received the No. 1 rank in this year’s ‘Top States for Business’ list. States in the top five this year were: Washington (No. 2); Utah (No. 3) and Colorado (No. 5).