CNBC ranked Virginia No. 1 in its Top States for Business list again this year, the business news network announced Thursday.
This is the sixth time the commonwealth has taken the top position since the rankings launched in 2007. Virginia outmatches other states for the number of first place wins. The state previously won in 2007, 2009, 2011, 2019 and 2021.
Virginia beat its neighbor, No. 2 North Carolina, and No. 3 Texas. Georgia ranked fourth while Florida ranked fifth.
“In both Republican and Democratic administrations, the state has shown how much it cares about business, and how carefully it can listen to companies,” CNBC special correspondent Scott Cohn said in a news release. “Plus, year after year, Virginia offers the training, talent, and the infrastructure for success.”
Virginia ranked third for best infrastructure in the country — what the network calls the most important category this year. CNBC called the commonwealth one of America’s most accessible states offering a wealth of shovel-ready sites for companies looking to move in and build fast.
The state ranked No. 1 for its education system but CNBC’s study found not enough educated workers were moving to the commonwealth. High business costs were also one of its biggest weaknesses.
CNBC’s study scored all 50 states on 128 metrics across 10 categories of competitiveness based on what companies consider each year when making site selection decisions. Those factors include the economy, employment and labor costs, costs associated with taxes and insurance, housing affordability, quality of life and workforce data. The network also analyzes the state’s economic development marketing pitches and efforts.
To view more information and the rankings, visit topstates.cnbc.com.
