Virginia Named Top State for Business

Virginia has been named the “Top State for Business” by CNBC.  This best-in-nation-ranking is based on a wide range of factors and reaffirms that “Virginia has what it takes to emerge from an economy turned upside down.”

CNBC, a internationally known leader in business news, evaluated each state on 40 different measures of competitiveness in 10 categories:

  • Workforce  – education of workforce, available workers, training programs
  • Education – higher education institutions, K-12 test scores
  • Economy – strength and diversity of economy, number of major corporations
  • Business Friendliness – “friendliness” of legal and regulatory framework
  • Quality of Life – local attractions, crime rate, health care, and air/water quality
  • Cost of Doing Business – tax burden, utilities, workers compensation, road quality
  • Cost of Living – housing, food and energy needs
  • Transportation and Infrastructure – value of goods transported, air travel
  • Access to Capital – availability of venture capital.

According to CNBC, Virginia has the 7th best economy nationally in 2009, up from 17th in 2008.  The business channel also cited Virginia’s reasonable sales, personal income and corporate tax rates as key contributors to Virginia’s ranking as America’s Best State for Business, 2009.

In the past month alone, Virginia has been ranked “No. 1 Pro-Business State” by Pollina Corporate Real Estate Inc., the second “Best State for Business” by Directorship magazine, and the second “Best State to Start a Business” by U.S. News and World Report.

Northern Virginia played a significant role in these results and, as evidenced by recent real estate trends, is a good bet for home buyers.  If you want to know more about buying property in Alexandria and Northern Virginia, give me a call at 703.937.4554 or email me at [email protected]

Michael