Forbes: “Virginia: The Best State for Business”

General, Local, Virginia 1 Minute

In an article released today, Forbes.com has declared that Virginia is best of all 50 states for businesses.

Virginia grabbed the top spot in Forbes.com’s first ever Top States for Business thanks to its strong economic growth, low business costs and excellent quality of life.

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Business costs in Virginia are very low, particularly tax and energy costs which are seventh and ninth lowest in the country. Overall, business costs in Virginia are 9% below the national average. The corporate income tax has remained unchanged at 6% for more than 30 years. And the state’s AAA bond rating keeps the government’s borrowing costs down preventing it from from nickel and diming its corporate constituents. Worker compensation costs are fourth lowest in the country and are 47% below the national average.

Governor Tim Kaine had this to say:

“This best-in-the-nation designation by a respected business publication such as Forbes validates all of our hard work to diversify our economy, educate the workforce, provide support for existing businesses, and our constant efforts to strike the appropriate balance with low taxes and responsible regulations,” Governor Kaine said. “We will showcase this latest honor as another example of Virginia leading the way with quality schools, a vibrant and well-balanced economy, an outstanding workforce, and excellent quality of life for our citizens and our corporate partners.”

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6 thoughts on “Forbes: “Virginia: The Best State for Business””

  3. Oh my god! Please Please cite your data that shows Virginia’s #1 ranking for business is due to gay people living here, and will fall if the amendment passes.

    Can’t wait to see this!

  6. Well… if you read the entire artcle.

    A SUBSTANTIAL number of Northern Virginia’s largest businesses offer their unmarried employees domestic partner benefits.
    The companies account for more than 100,000 jobs in Northern Virginia and upwards of $84.4 billion in revenue, according to dozens of interviews and financial disclosure statements.
    Northern Virginia firms that offer partner benefits include Gannett Co. in McLean; Northrop Grumman in Reston, McLean and Herndon; AOL Time Warner in Dulles; Booz Allen Hamilton in Tysons Corner; Capital One in McLean; Freddie Mac in McLean; and Sprint/Nextel in Reston.
    “It’s a concern for us,” said AOL spokeswoman Lauren Walinksy. “If you look beyond the amendment’s first paragraph, there are some vague loopholes that would put benefits at risk.”
    Nationally, 51 percent of all Fortune 500 companies offer employees domestic partner health insurance benefits, according to a 2006 report from the Human Rights Campaign, a gay and lesbian advocacy group based in Washington, D.C. Furthermore, 86 percent of the country’s largest businesses include sexual orientation in their nondiscrimination policies — a 10-fold increase over 2001.

    I think you might find there is some data that our number one ranking is threatened by a marriage amendment. I find an amendment that would suggest the above be unconstitutional very threatening. Kinda like the Marshall/Newman amendment actually.

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