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12. Virginia

The Old Dominion is an old favorite of business, with friendly regulations. But job creation has slowed in recent years.

Category
Score
2015 Rank
2014 Rank
Workforce 265 6 10
Cost of Doing Business 129 37 30
Infrastructure 188 25 19
Economy 146 36 (Tie) 29
Quality of Life 185 25 22
Technology & Innovation 163 14 10
Education 140 6 (Tie) 9
Business Friendliness 126 3 5
Cost of Living 39 25 32
Access to Capital 39 12 19
Overall 1420 12 8

Economic Profile

Governor: Terry McAuliffe, Democrat

Population: 8,260,405

GDP growth: 0.0 percent

Unemployment rate (May 2015): 4.9 percent

Top corporate tax rate: 6 percent

Top individual income tax rate: 5.75 percent

Gasoline tax: 40 cents/gallon

Bond rating/outlook: Aa1/stable

Major private employer: Wal-Mart, Huntington Ingalls Industries, Inc.

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Virginia FY 2014 CAFR

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