Virginia was ranked number one in CNBC’s 2024 Best States for Business rankings for the third time in five years and the sixth time on record since CNBC began rankings in 2007.
Virginia was ranked number one in CNBC’s 2024 Best States for Business rankings for the third time in five years and the sixth time on record since CNBC began rankings in 2007.
Virginia narrowly beat last year’s top business state, North Carolina, in what CNBC called the closest result in history.
CNBC annually ranks the competitiveness of all 50 states across a total of 10 categories, and Virginia received 1,595 points this year out of a total of 2,500 points.
Virginia ranks first in education. According to CNBC, Virginia has a wealth of higher education opportunities, including five historically black colleges and universities, and the state’s support for higher education has increased 28% over the past five years.
Virginia also receives high marks for its infrastructure, with CNBC noting that the state offers plenty of ready-to-build land for companies looking to build quickly.
Virginia also received high marks for business-friendliness, workforce, economy, technology and innovation, and quality of life. It ranked midway for the cost of doing business.
The rankings were announced live on air Thursday morning by CNBC correspondent Scott Corn, reporting from Virginia Beach.
“Virginia is a six-time winner, with three of those wins in the past five years, making it the most honored state, and it’s easy to see why,” Cohn said. “Under Republican and Democratic administrations, Virginia has shown how much it cares for business and how carefully it listens to businesses. And, year after year, Virginia provides the training, talent and infrastructure to succeed.”
Rounding out the top five best states for business on CNBC’s 2024 list are North Carolina, Texas, Georgia and Florida.
Watch CNBC’s complete rankings and commentary online.
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