Wednesday, September 12, 2007

More Kudos: Virginia's Business Friendly Climate

Virginia is the place to live! rates Virginia as the best state for business, the second year in a row. Read more in this article from the Virginia Chamber of Commerce Newsletter:

Virginia Receives Top Rankings—Again—for its Business Friendly Climate

Katie Hellebush

For the second year in a row Virginia may tout its top business friendly ranking! named the Commonwealth of Virginia the “Best State for Business” again, and CNBC along with designated Virginia as their “Top State for

The second consecutive number one ranking from highlighted the Commonwealth’s low unemployment rate, high quality of life and prospects for growth. Virginia placed number one in regulatory environment as well. Other considerations were cost of doing business and workforce.

CNBC, a far reaching financial news cable network, and examined states using 40 different measures of competitiveness in their study. These measures included cost of doing business, workforce, economy, education, quality of life, technology and innovation, transportation, cost of living, business friendliness, and access to capital. Virginia ranked in the top 15 of all but 2 categories. Texas, Utah, Georgia and North Carolina rounded out America’s top five states for business.

“It’s wonderful news that continues to give Virginia something to crow about in the international marketplace,” remarked Hugh Keogh, President & CEO of the Virginia Chamber of Commerce. Virginia competes in the most competitive region of the United States and the ranking “has great practical value when it comes to recruiting businesses,” Keogh added.

Recently, both MeadWestvaco and Philip Morris USA moved their headquarters to the Richmond area resulting in major economic boosts. Still the Virginia Chamber continues its work to make the Commonwealth an even more attractive place to conduct business by advocating sound public policy to ensure a business friendly climate that encourages Virginia businesses to prosper and flourish.

Not to be outdone, Directorship magazine has ranked Virginia number 2 in the nation for its pro-business liability policies. This ranking was derived from a 50-state survey conducted by the American Justice Partnership, a national nonprofit coalition of leading corporations, think tanks, foundations, trade associations, individuals and organizations advocating for legal reform at the state level.

Only Nebraska outranked Virginia in the liability survey. The rest of the top 10, in order, are: North Dakota, Kansas, Utah, North Carolina, Michigan, Indiana, Ohio and Colorado.

Factors cited in Virginia’s number 2 spot include:

-A liability climate that is conducive to growth and job creation;

-The second lowest insurance loss ratios in the nation;

-Abolishment of joint liability and enactment of reasonable limits on punitive damages;

-A rule-of-law majority on the Virginia Supreme Court; and

-Recent Attorneys General who have been active legal reform leaders.

The announcement was hailed by Attorney General Bob McDonnell because: “Expensive and excessive litigation leads to higher costs for consumers, less jobs for our citizens, and slowdowns in economic growth. It discourages investment and has a negative effect on the expansion of the free market. Money that Virginia companies spend fighting lawsuits is money not spent expanding facilities, conducting research, and hiring Virginia workers. This ranking is a bipartisan achievement. Virginia’s pro- business climate and policies will continue to attract new companies to the Commonwealth in the years ahead, to the benefit of all who call Virginia home.”

To read the full article on the survey and Virginia’s ranking click here.

Virginia covers a variety of what people are looking for. Charlottesville with tech. Northern Virginia with government consultants ready and a large population of employees available. Richmond, Roanoke, and Norfolk with the population to fill those jobs.

Businesses want an area with low unemployment, quality of life, and growth opportunities. Families in Virginia enjoy beaches, mountains, the Chesapeake Bay, museums, and lots of culture. We've got it all!

Virginia Beach

Charter Fishing on the Chesapeake Bay

Skiing at Wintergreen Resort in the Blue Ridge Mountains

Charlottesville Regional Chamber of Commerce:

Virginia Chamber of Commerce:

What else do you love about Virginia? Please post a comment.


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