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How Virginia stacks up


Business friendliness is an important factor in the site selection process. Here’s how Virginia compares on some of the most prestigious business rankings.


✦ Virginia is in the top fi ve of CN- BC’s recently unveiled “America’s Top States for Business” list, rank- ing No. 4 among the 50 states. T e state climbed three spots in this year’s ranking, up from No. 7 in 2017. T e commonwealth’s workforce and business friendli- ness continue to be a major draw, according to CNBC.


✦ T e Old Dominion has climbed to No. 5 on the most recent Forbes’ “Best States for Business” list. Forbes ranks Virginia second in the nation for its regulatory en- vironment, “because of its strong incentive off erings and business- friendly government policies.” Forbes emphasized Virginia’s di- verse economy that includes fed-


eral and local government, manu- facturing, farming and military.


✦ Business Facilities’ 13th “Annual Rankings Report” ranked North- ern Virginia No. 1 in Data Center Hubs based on the amount of megawatts multitenant data cen- ters used in 2016, beating out San Francisco and San Jose, Calif. T e new edition of the list was re- leased in late July, after this issue went to press.


✦ T e commonwealth ranks No. 9 in Site Selection’s 2017 “Top State Business Climate” list. T e state scored highly in competi- tiveness and improved upon its new plant per capita rank from 2016. T e rankings are a 50/50 mix of objective and subjective


measures.


✦ T e commonwealth ranked No. 15 on Chief Executive Magazine’s 2018 “Best & Worst States for Business” list, which is based on a CEO opinion survey. Virginia scored a 7.67 out of 10 in work- force quality, and 7.28 out of 10 in living environment.


✦ Virginia was listed as the sixth most educated state in Wal- letHub’s 2018 “Most and Least Educated States” ranking. Virginia ranked fourth in the nation in highest percentage of graduate or professional degree holders. To compile the ranking, WalletHub examined educational attainment, school quality and achievement gaps between genders and races.


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


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


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


60,915 53,346


748 0.12 1,811 0.35


8.97


-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


1.24 3.51 7.05 5.13


9,516 -1,115 -1.10 -10.49 3,626 0.32


VIRGINIA BUSINESS 3.27 Source: Virginia Employment Commission S5 •


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