Categories: Best & Worst States for Business

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 % 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 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

Chief Executive

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.