July, 2009 .
Governor Timothy M. Kaine today announced that for the second time during his administration, CNBC has named Virginia its "Top State for Business". This best-in-the-nation ranking was based on a wide range of factors, from workforce quality to broadband infrastructure, and reaffirms that "Virginia has what it takes to emerge from an economy turned upside down." Virginia received CNBC’s top ranking in 2007 and was ranked second in 2008. This is the fourth time in the last month that Virginia has received national acclaim as a top place to do business.
CNBC, a worldwide leader in business news, evaluated each state on 40 different measures of competitiveness in 10 categories:
- Workforce- education of workforce, available workers, training programs;
- Education- higher education institutions, K-12 test scores;
- Economy- strength and diversity of economy, number of major corporations;
- Business Friendliness- "friendliness" of legal and regulatory framework;
- Quality of Life- local attractions, crime rate, health care, and air/water quality;
- Technology and Innovation- broadband infrastructure, support for innovation, number of patents;
- Cost of Doing Business- tax burden, utilities, workers compensation; road quality;
- Cost of Living- housing, food, and energy costs;
- Transportation and Infrastructure- value of goods transported, air travel,
- Access to Capital- availability of venture capital.
Watch the video here
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