Business Facilities magazine, a trade publication that focuses on corporate site selection and economic development, has named Virginia first in the nation for its overall business climate, Gov. Ralph Northam announced Tuesday.
The state joins fellow honorees Tennessee (recognized for best dealmaking) and Massachusetts, recognized for its workforce and educational system in Business Facilities’ annual ranking of the states. Virginia last won Business Facilities’ state of the year award in 2018, followed by Texas in 2019 and North Carolina last year.
“For the first time, we thought it was appropriate to name three winners in this prestigious process,” Business Facilities Editorial Director Seth Mendelson said in a statement. “As businesses look to expand or relocate, the questions they have about communities are becoming more complex. They want to know as much as they can about a community before making a final decision. We think this is going to help them make informed choices. The commonwealth’s location, right next to the District of Columbia, combined with its pro-business work environment, strong workforce and educational systems, makes it a great place to do business in.”
Business Facilities notes that Virginia has an unemployment rate of 3.6%, the 10th-lowest in the country, and it has a workforce of 4.1 million people as well as successful workforce programs, including the Virginia Talent Accelerator Program, a collaboration between the Virginia Community College System and the Virginia Economic Development Partnership that provides on-site work training, and Fast Forward Virginia, a VCCS program that provides industry credentials after a short-term training program that typically takes between six and 12 weeks.
“I am proud of the work our administration has done to develop the strongest business-friendly environment in the nation,” Northam said in a statement. “During my term, we’ve attracted more than $80 billion in economic investment, creating more than 100,000 jobs — a record for any Virginia governor. Virginia has set a new standard for all other states. Companies want to invest here and create jobs here because of our welcoming environment, commitment to developing our workforce, and our existing infrastructure.”
In July, Virginia was named the No. 1 state for business by CNBC for the second time in a row and five times in all.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Sign In
Free Newsletter
