“The U.S. economy continues to sputter along with an outlook that is cloudy…But pockets of the U.S. are primed for growth thanks to pro-business regulatory environments, educated workforces and reasonable business costs. Leading the way is Virginia which tops Forbes’ eighth annual Best States for Business. Virginia has ranked No. 2 the past three years, but returns to the head of the pack for the first time since 2009.
Our study looks at six important factors for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Virginia is the only state to rank in the top five in four areas—only missing on costs and growth prospects.
Virginia ranks first among the states in the regulatory category because of its business-friendly government policies and strong incentive offerings. The tort system is one of the best in the country for businesses, according to the Mercatus Center’s “Freedom in the 50 States.” Virginia is also one of 24 right-to-work states, which explains a union workforce that is only 4.4% of employment—fifth lowest in the U.S…”