Governor McAuliffe Announces Ranks Virginia No. 5 Best State for Business

~ Commonwealth moves up in annual survey ranking business costs, labor supply, regulatory environment, economic climate, growth prospects, and quality of life ~

RICHMOND, VA – Governor Terry McAuliffe today announced that Virginia was named No.5 in the 2017 Best States for Business ranking. This position represents a jump from No.6 in the 2016 survey and No.7 in 2015. Virginia has placed in the top 10 since the ranking’s inception in 2006, and ranked among the top two states every year from 2006 through 2013.

“The Commonwealth’s advancement in major national rankings like is strong evidence of our success in building the new Virginia economy,” said Governor McAuliffe. “We are working tirelessly with our economic development partners across the Commonwealth to put Virginia on top, and today’s announcement demonstrates that our efforts are working. We are committed to building on this upward trajectory by offering the infrastructure, regulatory environment, and robust workforce to ensure Virginia is the premier business destination in the United States.”

Forbes uses six factors to determine state rankings, which include: business costs, economic climate, growth prospects, labor supply, quality of life, and regulatory environment. The Commonwealth finished in the top 10 in three of the six categories examined in the review published today, including #2 for Regulatory Environment, #3 for Labor Supply, and #8 for Quality of Life. According to, Virginia ranks second for its regulatory climate because of its strong incentive offerings and business-friendly government policies.

“Virginia’s improved standing in’s Best States for Business rankings is a testament to the commitment of Governor McAuliffe’s administration and all of our allies at the state, regional, and local levels to make the Commonwealth the premier destination for business,” said Secretary of Commerce and Trade Todd Haymore. “There is still work to be done to return Virginia to its top standing, and we will continue to build on this positive momentum working with members of the General Assembly and our public and private sector partners.”

For the entire Best States for Business ranking report, please visit here.

Full Release


Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *