Virginia ranked as a top state for business

Virginia ranked No. 11 in Area Development magazine’s 2017 Top States for Doing Business.
 
This year’s list was the first time the commonwealth was ranked in the magazine’s survey since 2010. The annual ranking, which began in 2010, increased its list from 10 to 20 states last year.
 
“This new ranking is evidence that the steps we are taking to build a new Virginia economy are paying off and that independent observers are taking note,” Gov. Terry McAuliffe said in a statement. 
 
The commonwealth ranked in the top 10 in five of 12 subcategories that impact companies’ location and facility plans, including: Cooperative & Responsive State Government, fifth; Leading Workforce Development Programs, seventh; Competitive Labor Environment, eighth; Favorable Regulatory Environment, ninth; and Speed of Permitting, ninth. 
 
These rankings represent significant advances for Virginia as the state has not placed in any subcategories since 2013. This year also marks the first time Virginia has ever placed in the Cooperative & Responsive State Government, Competitive Labor Environment and Speed of Permitting categories.
 
 Area Development’s 2017 Top States for Doing Business rankings reflect the results of the magazine’s recent survey asking site selection consultants to give their top state picks in 12 categories.