Virginia Once Again Named Best State for Business

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Posted: 11:38 AM Jun 29, 2011 Virginia Once Again Named Best State for Business Virginia is atop CNBC's list of the Top States for Business for the third time in five years. The Commonwealth was previously ranked No. 1 in 2007 and 2009. Email Address: news@newsplex.com

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June 29, 2011

Virginia is atop CNBC's list of the Top States for Business for the third time in five years.

The Commonwealth accumulated the best overall score in the history of the study - 1,660 points out of a possible 2,500 - to beat out Texas for the No. 1 ranking.

The study, now in its fifth year, measures all 50 states on 43 different metrics in ten categories. Those categories are then weighted based on how frequently each state uses them as a selling point to attract business.

The 2011 categories and weightings are as follows:

* Cost of Doing Business (350 points)
* Workforce (350 points)
* Quality of Life (350 points)
* Infrastructure & Transportation (325 points)
* Economy (300 points)
* Education (225 points)
* Technology & Innovation (225 points)
* Business Friendliness (200 points)
* Access to Capital (100 points)
* Cost of Living (50 points)

"Virginia is a perennial favorite with its strategic location, friendly business climate and diverse economy," wrote CNBC correspondent Scott Cohn. "It moved back on top this year thanks to marked improvements in a couple of key areas."

In the ten categories, Virginia ranked 2nd in Business Friendliness, 6th in Education, 8th in Economy, 10th in both Access to Capital and Infrastructure and Transportation, 11th Technology and Innovation, 12th in Workforce, 21st in Cost of Business, 24th in Cost of Living and 26th in Quality of Life.

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Posted by: Don Location: Albemarle on Jun 29, 2011 at 04:36 PM

The first four of the top five states have RIGHT TO WORK LAWS and conservative Governors. Colorado as #5 got into the mix due to quality of life points.(the Rocky Mountains are GREAT) It is time to take note of the fact that the progressive states with heavy union protections are shedding jobs. While Virginia enjoys lower than the 9.2% unemployment rate it is interesting to note that joblessness for blacks has risen to 16.4% nationwide. When does Obama plan to address this trend? Right now I am cheering on a business genius named Herman Cain. Please take the time to get to know who he is and what his vision for our economy is.Forget the "R" and "D" labels as this man is an "A" for American who came from poor means and pulled his pants up and got to work. I wish every one a great Independence Day.

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