Virginia Named "Top State For Business" By CNBC

Associated Press • Jul 24, 2009 at 12:00 AM

CNBC has named Virginia its “Top State for Business” for the second time in three years.

The ranking was based on 40 measures of competitiveness in 10 categories, including the quality of its work force, the cost of doing business and its support for innovation. The business channel also cited Virginia’s reasonable sales, personal income and corporate tax rates.

Since January 2008, Virginia has attracted $6.58 billion in investment and created 30,856 new jobs.

Gov. Timothy M. Kaine said the recognition demonstrates that the state’s efforts are working.

Virginia received CNBC’s top ranking in 2007, but fell to No. 2 in 2008 behind Texas. The Lone Star State ranked second this year, followed by Colorado, Iowa and Utah.

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