For the past three years CNBC has published a study in search of the top states for business. Virginia was #1 in 2007, fell to second place (after Texas) in 2008, and we are happy to say re-claimed the #1 spot for 2009. The study is based on criteria such as cost of doing business, workforce, quality of life, economy, transportation, technology and innovation, education, business friendliness, access to capital and cost of living.

The changes seen in the economy had a dramatic effect on states’ rankings, some negative, and some positive. For example, in Texas – Virginia’s top competitor for the #1 spot, the quality of life ranking fell 10 points, while Virginia’s rose 10. Furthermore, Virginia’s economy, while still struggling seems to be leveling off and finished in 7th place, up 10 points from last year’s #17 spot. With a steady corporate tax, low state and income tax, and a #2 finish in the ‘Business Friendliness’ category Virginia is a great place to be doing business.

To read the article and view the study, click here.

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