Virginia is the 6th Best State for Business 2012

No. 6 Virginia Taxation and Regulations Workforce Quality Living Environment Based on CEO Survey by ChiefExecutive.net Key Metrics State GDP  [...]

May 2 2012 by ChiefExecutive.net


No 6: Virginia

No. 6

Virginia

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’07-’10: 3.70
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): 4.04

Unemployment

  • Unemployment Rate Dec. 2011 %: 6.20
  • Comparison with Nat’l Rate (8.50%): -2.30

Domestic Migration

  • Domestic Net Migration ’00-’09: 164,930
  • Rank: 12

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,131
  • State & Local Gov’t Employees per 10k Residents: 574.02

State-Local Tax Burden

  • Rate (%): 9.11
  • Compared to Nat’l Avg. (9.8%): -0.69
Key Companies
  • Freddie Mac
  • Altria Group
  • Capital One Financial Corporation
  • General Dynamics
Development Trend Indicator: Positive
Has focused on entrepreneur-friendliness and leveraging higher-ed advantages.
CEO Comments
“Texas is extremely business friendly. Virginia is also excellent for business. Between the two they provide excellent options to relocate a business and grow the business.”

“It’s not only low taxes; it’s a bi-partisan environment that views business as positive and works to address issues. Virginia is terrific at this.”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation