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CNBC: Virginia is the #1 Top State for Business
July 11, 2024
This year, Virginia reclaimed the top spot among CNBC’s annual list of America’s Top States for Business, marking its sixth time ranking #1. Virginia makes history with its third win in five years, a record only achieved by the Commonwealth since CNBC’s first published list in 2007.
Methodology
CNBC measured all 50 states on 128 metrics in 10 categories including infrastructure, workforce, economy, quality of life, cost of doing business, technology and innovation, business friendliness, education, access to capital and cost of living.
Results
Earning the top spot, Virginia scored highly across the board. In fact, Notably, Virginia scored #1 in the nation for its top-tier education system. The Commonwealth also scored #3 for infrastructure thanks to its ability to connect new and expanding companies with available shovel-ready sites. A long-time home to a thriving business community, it’s no surprise Virginia ranks #5 for business friendliness.
| 2024 rank | State | Education | Infrastructure | Business friendliness | Access to capital | Workforce |
|---|---|---|---|---|---|---|
| 1 | Virginia | 1 | 3 | 5 | 8 | 9 |
| 2 | North Carolina | 10 | 20 | 2 | 10 | 3 |
| 3 | Texas | 35 | 26 | 17 | 6 | 1 |
| 4 | Georgia | 8 | 1 | 19 | 12 | 4 |
| 5 | Florida | 37 | 35 | 28 | 2 | 2 |
Greater Richmond bolsters the Commonwealth
The capital region of Virginia fosters highly educated and skilled graduates that often funnel directly into the workforce post-graduation. Greater Richmond is home to 22 colleges and universities, however, within 150 miles of the region companies can find 1.67 million higher education students.
As for infrastructure, Greater Richmond offers a strategic array of road, rail, air and sea options for companies to utilize what works best for their operations. The Greater Richmond Partnership as well as the region’s local economic development partners are well-equipped to locate available sites for new and expanding companies. Contact GRP to begin your search.
Learn why companies choose Greater Richmond.
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