1. Virginia

The Old Dominion regains the Top State crown with a great workforce and strong education, but costs are extremely high.

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Category
Score
2019 Rank
2018 Rank
Grade
Workforce 347 1 3 A+
Economy 239 16 13 B
Infrastructure 200 13 20 B+
Cost of Doing Business 158 35 34 C+
Quality of Life 203 17 19 C+
Education 134 1 6 A+
Technology & Innovation 109 17 15 B
Business Friendliness 145 3 5 A
Access to Capital 56 15 13 B+
Cost of Living 19 32 33 D+
Overall 1610 1 4 -

Economic Profile

Governor: Ralph Northam, Democrat

Population: 8,517,685

GDP growth (Q4 2018): 1.5%

Unemployment rate (May 2019): 3%

Top corporate tax rate: 6%

Top individual income tax rate: 5.75%

Gasoline tax: 20.66 cents/gallon

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