Business Facilities names Virginia 2024 State of the Year

Business Facilities has named Virginia its 2024 State of the Year, recognizing the state’s business environment and economic development success, the publication announced Monday.

The award comes in the same year as Virginia’s sixth No. 1 ranking as CNBC’s Top State for Business, awarded in July. Virginia previously won Business Facilities’ State of the Year designation in 2018, and in 2021, it was named as having the nation’s Best Overall Business Climate. Business Facilities is a magazine geared toward corporate site selectors and site selection consultants.

“From advanced manufacturing to data centers to professional services, Virginia is attracting companies across industries with its business-friendly environment and programs to support the distinct needs of those businesses,” Business Facilities Editorial Director Anne Cosgrove said in a statement. “From the recent news of a $1 billion-plus investment by Microporous LLC to manufacture battery separators to Beanstalk Farms investing $4.1 million for indoor farming and distribution, businesses of all sizes see the promise and profit in choosing Virginia.”

According to Business Facilities’ announcement, the publication took into consideration education and workforce, infrastructure and business attraction and retention. Earlier this year, the Virginia Talent Accelerator Program, a workforce training program started by Virginia Economic Development Partnership, was ranked No. 1 for customized workforce training in Business Facilities’ 2024 State Rankings report.

The publication listed 12 top contenders for the 2024 State of the Year award: Arizona, Florida, Georgia, Indiana, Michigan, Nevada, North Carolina, Ohio, South Carolina, Tennessee, Texas and Utah.

“Virginia is a prime location for businesses of all varieties, and this honor from Business Facilities underscores the work we’ve been doing since day one to make Virginia the best place for business investment and job creation,” Gov. Glenn Youngkin said in a statement. “The commonwealth has experienced record job growth from companies that are drawn by our best-in-class talent, infrastructure and business-friendly environment. I am thrilled that Virginia has earned this recognition from a leading source for site selection experts.”