10 Best States for Business 2013: Slideshow

Number 6 Number 8

No. 7Virginia

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’10-’11: 0.3
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -1.2


  • Unemployment Rate Dec. 2012 %: 5.6
  • Comparison with Nat’l Rate (7.80%): -2.2

Domestic Migration

  • Domestic Net Migration ’10-’11: 15,538
  • Rank: 9

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,131
  • State & Local Gov’t Employees per 10k Residents: 574.0

State-Local Tax Burden

  • Rate (%): 12.3
  • Compared to Nat’l Avg. (9.9%): 2.41
Key Companies
  • Freddie Mac
  • Altria Group
  • Capital One Financial Corporation
  • General Dynamics
Development Trend Indicator: Sideways
Business hails new infrastructure spending but not resulting tax increases.
CEO Comments
“Virginia and North Carolina are exceptionally business friendly. Being a right to work state is a significant draw for our business and the workforce is exceptional at our locations. Great educational institutions and transportation systems.”

“Virginia has chambers and military affairs councils whoop dilgentlty work to maintain base presence in our state, which helps our economy, beings supporting business, and provides well qualified work forces.”

Bureau of Economic Analysis
Bureau of Labor Statistics
The Tax Foundation

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.