Virginia Called The Best State For Business
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The Old Dominion is again atop the list of best states for business, according to CNBC’s 2021 study. Virginia also won the previous title in 2019 and it’s the fifth time the state has come out on top since the first study in 2007. No other state has won as many times in CNBC’s study.
The states were compared on 85 different factors grouped into 10 different categories. The breakdown for the different categories’ weights:
- Cost of Doing Business – 400 points
- Infrastructure – 375 points
- Life, Health and Inclusion (formerly Quality of Life) – 375 points
- Workforce – 325 points
- Economy – 250 points
- Business Friendliness – 200 points
- Access to Capital – 175 points
- Technology and Innovation – 175 points
- Education – 150 points
- Cost of Living – 75 points
Virginia was strongest in categories related to education and workforce, with CNBC noting that nearly 39% of the state’s workers have bachelors degrees or higher, and state has the nation’s third highest concentration of STEM workers.
Neighbor North Carolina is second in this year’s study and Maryland placed 12th.
Best States For Business
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