Virginia named top state for overall business climate

Virginia News

Virginia Gov. Ralph Northam gestures as he delivers his annual budget forecast to a joint session of the House and Senate budget committees at the Capitol Thursday Dec 16, 2021, in Richmond, Va. (AP Photo/Steve Helber)

RICHMOND, Va. (WFXR) – On Tuesday, Gov. Ralph Northam announced that Virginia has been named the State of the Year for overall business climate, according to Business Facilities magazine.

This ranking comes after CNBC ranked Virginia as the Best State for Business.

“I am proud of the work our administration has done to develop the strongest business-friendly environment in the nation. During my term, we’ve attracted more than $80 billion in economic investment, creating more than 100,000 jobs—a record for any Virginia governor. Virginia has set a new standard for all other states. Companies want to invest here and create jobs here because of our welcoming environment, commitment to developing our workforce, and our existing infrastructure.”

Gov. Ralph Northam

Business Facilities also named Tennessee as the state with the Best Dealmaking. Massachusetts was named as the state with the Best Workforce/Educational System.

Virginia finished first in the Best Overall Business Climate due to work done by local and statewide economic development councils to make the Commonwealth more attractive to prospective employers.

Virginia’s workforce exceeds 4.1 million people and has an unemployment rate which is the 10th lowest in that nation at 3.4 percent.

Programs in the Commonwealth that have highly-successful workforce programs include the Virginia Talent Accelerator Program, a customizable job-specific training and recruitment initiative, and Fast Forward Virginia, a short-term credential program that trains Virginians for top, in-demand jobs across the Commonwealth.

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