Virginia lands back on top in CNBC’s fifth annual list of “Top States For Business” rankings. The Old Dominion State beat out Texas for the number one spot after trailing them last year. Virginia scored 1,660 out of a possible 2,500 points. Scoring is calculated based on 10 categories, including, cost of doing business, workforce, and quality of life. Although Virginia did not win any of the 10 categories outright, they did score incredibly well where it mattered. The state scored best in the cost of doing business category, as well as the workforce category. CNBC noted that a major reason for the number one ranking was Virginia’s improved tax issues, as well as shrinking class sizes in schools. Virginia was also ranked number one in 2007 and 2009.
Speaking about Virginia’s top ranking, Governor Bob McDonnell said, “Our focus, from day one of this administration, has been to put in place the policies that will help private sector businesses create those jobs in the Commonwealth and get our economy back on track. Virginia is wide open for business."