13. Virginia (tie)

The Old Dominion stands superior for workforce and business friendliness, but high costs and weak infrastructure hurt.

Top States Virginia
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 276 3 6
Cost of Doing Business 142 36 37
Infrastructure 167 32 25
Economy 163 30 36 (Tie)
Quality of Life 204 16 25
Technology & Innovation 159 15 14
Education 136 5 6 (Tie)
Business Friendliness 120 3 3
Cost of Living 32 30 25
Access to Capital 36 15 12
Overall 1435 13 12

Economic Profile

Governor: Terry McAuliffe, Democrat

Population: 8,382,993

GDP growth: 1.4 percent

Unemployment rate (May 2016): 3.8 percent

Top corporate tax rate: 6 percent

Top individual income tax rate: 5.75 percent

Gasoline tax: 40.73 cents/gallon

Bond rating/outlook: Aaa, stable

Major private employers: Wal-Mart, Huntington Ingalls Industries, Altria Group

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

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