Virginia again recognized for business-friendly environment
By Morgan Sweeney | The Center Square
(The Center Square) – Virginia has again been recognized as the best state for business for the second time this year, this time by Business Facilities Magazine.
The magazine, which describes itself as “the source for site selectors,” chose Virginia as its 2024 State of the Year based on overall business environment, with a focus on “corporate relocation and expansion decisions.” This is the third time the commonwealth has received this award, according to the governor’s office.
“The commonwealth has experienced record job growth from companies that are drawn by our best-in-class talent, infrastructure, and business-friendly environment,” said Republican Gov. Glenn Youngkin, celebrating the state’s success. “I am thrilled that Virginia has earned this recognition from a leading source for site selection experts.”
Business Facilities’ Editorial Director Anne Cosgrove expounded on some of the reasons the editorial team thought the commonwealth deserved the No. 1 ranking for 2024.
“Virginia is attracting companies across industries with its business-friendly environment and programs to support the distinct needs of those businesses,” Cosgrove said in a statement, listing advanced manufacturing, data centers, professional services and indoor farming and distribution as industries where the state saw wins this year.
The editorial team considered states’ education, workforce, infrastructure and business attraction and retention in its evaluation. Earlier this year, Virginia’s Talent Accelerator Program snagged first place in the magazine’s state rankings report for customized workforce training, and the state’s relatively new (launched in 2023) Virginia’s Business Ready Sites Program also impressed the team.
In July, Virginia was named America’s Top State for Business in an annual study by CNBC for the sixth time since the survey’s start. Its performance in education, infrastructure and business friendliness in particular helped secure the state’s premier rank. The commonwealth also placed first in 2007, 2009, 2011, 2019 and 2021.
