Forbes: Virginia Remains Best State for Business

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Updated: 8:53 AM Sep 24, 2009 Forbes: Virginia Remains Best State for Business Forbes.com announced that Virginia will remain in first place as their “Best State for Business.” It is the fourth consecutive year Virginia has been top ranked. The Commonwealth finished in the top 10 in 3 of the 6 categories examined in the review. Posted: 8:53 AM Sep 24, 2009

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September 24, 2009

Governor Timothy M. Kaine Thursday announced that Virginia will remain in first place as Forbes.com’s “Best State for Business.” It is the fourth consecutive year Virginia has been top ranked. The Commonwealth finished in the top 10 in 3 of the 6 categories examined in the review, which was published Thursday.

“With our low corporate tax rate, highly-skilled workforce, and great quality of life, it’s no wonder Virginia consistently attracts some of the world’s most innovative and corporate leaders to our borders,” said Governor Kaine. “In these tough economic times in particular, the recognition by Forbes today is an incredible affirmation that Virginia has what it takes to compete at the national and global arenas.”

Forbes.com looks at rigorous qualifications and the Commonwealth has come out on top again in quality of life, regulatory environment, and labor. Virginia has been named the most business friendly state ever year of Governor Kaine’s administration. The award from the world-recognized financial brand follows Virginia’s most recent number one rankings from Pollina Corporate Real Estate and CNBC this past summer.

Utah was ranked second by Forbes.com, followed by Washington, North Carolina, and Georgia. Colorado, Idaho, Florida, Texas and Nebraska rounded out the top ten list.

"I am extremely proud of this independent ranking which once again validates the successful strategy and efforts of economic development programs throughout the Commonwealth," said Patrick O Gottschalk, Secretary of Commerce and Trade.

The Commonwealth took the lead in the quality of life ranking, took second place in the regulatory environment ranking and third in the labor issues. Virginia was 12th in growth prospects, 18th in economic climate and 20th in business costs.

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