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Virginia versus other states


How does the commonwealth compare to the rest of the United States when it comes to business friendliness? We set to fi nd out by looking at prominent business rankings, highlighted below.


✦ Virginia is in the top 10 of CN- BC’s recently unveiled “America’s Top States for Business” list, ranking No. 7 among the 50 states. T e commonwealth’s workforce continues to be a ma- jor draw, according to CNBC, as does its business friendliness.


✦ T e Old Dominion also is among the highest-ranking states in Forbes’ “Best States for Business” list, snagging the No. 6 spot in the most recent ranking. Forbes gives Virginia high marks for its regulatory climate and highlights the commonwealth’s diverse economy, which includes “local and federal government, military, farming and manufacturing.”


✦ Virginia is highlighted in Busi- ness Facilities latest annual “Rankings Report,” which looks at states “leading the pack in the most important benchmarks for sustainable growth in the 21st century.” T e commonwealth made it on several lists on these rankings, including joining the top 10 states with the best infra- structure, due to having the “port that was fi rst to be ready for the Panama Canal expansion.”


✦ T e commonwealth ranks No. 6 in Site Selection’s “Top State Business Climate” list. Half of the rankings are based on a survey of corporate site selectors while the rest is based on an index of seven criteria, including total 2016


projects year to date and state tax burdens on mature fi rms and on new fi rms.


✦ CEOs also have good things to say about Virginia’s business en- vironment. T e commonwealth ranked No. 15 on Chief Execu- tive Magazine’s 2017 “Best & Worst States for Business” list, which is based on a CEO opin- ion survey.


✦ Virginia was listed as the seventh most-educated stated in Wal- letHub’s 2017 “Most and Least Educated States” ranking. T e report takes into account two key dimensions, including “educa- tional attainment” and “quality of education and attainment gap.”


Industry employment projections (long term) Percent change


Estimated 2014


Total, all industries Accommodation and food services


Projected 2024 Change


Annual Avg. Total


3,977,869 4,345,923 368,054 0.89% 9.25% 321,040 352,330 31,290 0.93


Administrative and support and waste management and remediation services 214,758 234,450 19,692 0.88 Agriculture, forestry, fi shing and hunting Arts, entertainment and recreation Construction


58,935 49,367


Educational services Finance and insurance


Health care and social assistance Information


Management of companies and enterprises Manufacturing


Mining, quarrying and oil and gas extraction Other services (except public administration) Professional, scientifi c and technical services Public administration


Real estate and rental and leasing Retail trade


Transportation and warehousing Utilities


Wholesale trade ADVERTISING


54,824 -4,111 -0.72 55,167


9.75 9.17


-6.98 5,800 1.12 11.75


178,203 200,963 22,760 1.21 12.77 352,778 395,156 42,378 1.14 12.01 129,981 141,636 11,655 0.86


8.97


418,602 515,689 97,087 2.11 23.19 71,474 74,283


69,426 -2,048 -0.29 77,075


7,259 2,792 0.37


231,497 219,778 -11,719 -0.52 7,470


60,915 53,346


748 0.12 1,811 0.35


-211 -0.29 131,382 143,824 12,442 0.91


-2.87 3.76


-5.06 -2.82 9.47


389,128 459,829 70,701 1.68 18.17 60,167 51,535


413,395 442,557 29,162 0.68 107,989 113,524 5,535 0.50 10,631


110,804 114,430 3,626 0.32 VIRGINIA BUSINESS


1.24 3.51 7.05 5.13


9,516 -1,115 -1.10 -10.49 3.27


Source: Virginia Employment Commission S7


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