For the second straight year, Virginia was ranked #2 in the nation in Forbes’ best state for business competition. This comes after a 4 year run in first place. From the article:
Virginia has been a major beneficiary of the federal government’s largesse in terms of military spending and infrastructure development in northern Virginia. Those days may be coming to end according to Zandi who says, “As the fiscal screws tighten, it is going to be more difficult for Virginia to maintain the growth rates and success it has had in the past.”
I missed this article when writing this week’s op-ed, which appeared in Wednesday’s Virginian-Pilot. But there was plenty fodder for the column, even without this article. The reports to the money committees of the General Assembly – House Appropriations and Senate Finance – contained a lot of data about what’s coming down the pike, particularly in light of the failure of the supercommittee.
It’s not going to be pretty. And it’s certainly not going to be fun.