Friday, July 13th, 2012 at 8:59 am
CNBC ranked Virginia third in the nation for business-friendliness and competitiveness. Virginia was the highest ranking state in the southeastern United States and was ranked behind only Texas and Utah.
The ranking, based on economic health, business costs, infrastructure, education, workforce, costs, access to capital, and quality of life, has consistently ranked Virginia among its top three since CNBC compiled its first ranking in 2007.
This year, CNBC recognized improvement in a number of areas. Specifically, Virginia’s rankings on workforce, quality of life, access to capital, and cost of living improved from last year.
Virginia was ranked top state in the nation for business in 2011. This year’s slightly lower ranking was based on a couple of factors including increasing traffic congestion and the fact that the state’s economic outlook is suffering somewhat from the state’s reliance on federal employment. Neither of these factors is particularly relevant in the Roanoke Region of Virginia where the average commute is 13.4 percent shorter than the national average and Roanoke’s economy is the most diverse in Virginia, according to Moody’s.
