July 13, 2022

FOR IMMEDIATE RELEASE:

Richmond, Virginia – Today, CNBC released its America’s Top States for Business 2022 national rankings. CNBC graded states on 88 metrics in ten categories of competitiveness. This year’s rankings placed greater emphasis on workforce, infrastructure, and the cost of doing business. Based on Virginia’s 2022 scores, the Commonwealth was ranked the third best state for business. Virginia has been ranked in the top five for the last five years.

“While Virginia is no longer ranked the #1 state for business according to the CNBC rankings, the state remains a favored location for business and has made great strides over the past few years to restore our competitive position. Today’s rankings confirm that Virginia is a leader in many areas where the Virginia Chamber has been active, notably enhancing our educational system and our recent investments in infrastructure,” said Barry DuVal, President & CEO of the Virginia Chamber of Commerce. “Unfortunately, the cost of doing business continues to rise in the Commonwealth, making it harder to compete against other states which have aggressively cut taxes and streamlined regulations. We look forward to working with leaders at the state and local level to address these challenges to enhance Virginia’s reputation as a great place to live, work, and raise a family.”