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Fast Fact
For the third straight year, Virginia is ranked the best state for business by Forbes.com. Virginia is also ranked among the top states for business by CNBC.


Virginia Economic
Development Partnership

901 East Byrd Street
P.O. Box 798
Richmond, VA 23218-0798
USA
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Inquiries:
(804) 545-5700 (Domestic)
(804) 545-5750 (International)
(804) 545-5600 (General)
(804) 545-5805 (Media)


Skip Navigation Links Home > Why Virginia > Pro-business Climate

Pro-Business Climate
Virginia is the Best State for Business
Every state talks about its positive business climate. In Virginia, we’ve let others do the talking. For the third straight year, Virginia is ranked the Best State for Business by Forbes.com. And, Virginia is among the Top States for Business according to CNBC. In each analysis, cost of doing business, quality of workforce, and regulatory environment all drove Virginia to the top. A Virginia business location will positively impact your bottom line. Let us show you how.

  • Streamlined permitting process

  • Recruitment training programs to help new businesses become operational faster

  • Right-to-work law allows individuals the right to work regardless of membership in a labor union or organization

  • AAA bond rating

  • 6 percent corporate income tax rate has not been increased since 1972

  • Programs at little or no cost to help businesses increase international sales

  • 29 publicly-funded and nonprofit small business incubators

  • The Richmond Metro Area placed among Forbes.com’s top ten Best Places For Business And Careers: 2008 while Lynchburg, Northern Virginia, Virginia Beach, and Roanoke placed within the top 100 large metro areas nationwide. Additionally, Charlottesville and Blacksburg were chosen among the top ten Best Small Places For Business And Careers while Winchester and Harrisonburg were ranked among the top 50 small metro areas nationwide.

  • In Governing Magazine’s Government Performance Project, Grading the States 2008 survey, Virginia earned an overall grade of A- for management of state government. This is a testament to Virginia's long term planning and management of money, people, infrastructure, and information. Two other states, Utah and Washington, received an A- grade, and the national average was B-. Virginia also received an A- ranking in the most recent “Grading the States” assessment in 2005.

  • Chief Executive Magazine ranked Virginia as the 4th Best State for Business in its 2008 CEO Confidence Index.

  • Virginia ranked 6th in the U.S. Chamber of Commerce’s 2008 State Liability Systems Study at doing the best job of creating a fair and reasonable litigation environment as evaluated by corporate America.