8. Virginia (Tie)

The Old Dominion offers a welcoming business climate and high-quality workforce. Its proximity to the nation’s capitol, once a blessing, has become a curse as the federal government shrinks.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 226 30 38
Workforce 201 10 6
Quality of Life 172 22 18
Infrastructure & Transportation 204 19 (Tie) 21
Economy 211 29 10
Education 100 9 8
Technology & Innovation 226 10 12
Business Friendliness 163 5 6
Cost of Living 19 32 20
Access to Capital 16 19 (Tie) 13
Overall 1538 8 (Tie) 5 (Tie)

Economic Profile

Governor: Terry McAuliffe

Population: 8,260,405

GDP growth: 0.1 percent

Unemployment rate (May 2014): 4.9 percent

Top corporate tax rate: 6 percent

Top individual income tax rate: 5.75 percent

Gasoline tax: 36 cents/gallon

Bond rating/outlook: Aaa/stable

Major private employer: Wal-Mart

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Virginia FY 2013 CAFR

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