7. Virginia

The Old Dominion offers a wealth of skilled workers, but they command high wages, driving business costs high.

George Kavallines | CNBC
Category
Score
2017 Rank
2016 Rank
Workforce 367 2 3
Infrastructure 179 25 32
Cost of Doing Business 152 35 36
Economy 179 20 30
Quality of Life 196 17 16
Technology & Innovation 136 16 15
Education 128 13 5
Business Friendliness 115 7 3
Access to Capital 77 13 15
Cost of Living 23 28 30
Overall 1552 7 13

Economic Profile

Governor: Terry McAuliffe, Democrat

Population: 8,411,808

GDP growth (Q4 2016): 1.5 percent

Unemployment rate (May 2017): 3.8 percent

Top corporate tax rate: 6 percent

Top individual income tax rate: 5.75 percent

Gasoline tax: 22.40 cents/gallon

Bond rating/outlook (Moody's, S&P): Aaa, AAA negative

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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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