Virginia Scores Top Honors From CNBC and Forbes.com

Virginia Scores Top Honors From CNBC and Forbes.com

RICHMOND, Va., July 13 /PRNewswire-USNewswire/ -- CNBC, the leading financial news cable channel that reaches influential business and financial leaders around the world, has designated Virginia as its "Top State for Business." Earlier this week, Virginia was awarded a similar "Best State for Business" designation for a second consecutive year by Forbes.com, the Internet site of the Forbes family of business publications.

Virginia Governor Timothy M. Kaine conducted a live interview this afternoon following CNBC's announcement of Virginia as the nation's leader. The network evaluated each state on 40 different measures of competitiveness in 10 broad categories: cost of doing business; workforce; economy; education; quality of life; technology and innovation; transportation; cost of living; business friendliness; and access to capital. According to the CNBC analysis, Texas ranked second, followed by Utah, Georgia, and North Carolina.

"What a week this has been for Virginia. It is gratifying to see our state applauded by internationally respected financial media organizations such as CNBC and Forbes.com," Governor Kaine said. "These rankings are significant. As a result of responsible management and bipartisan leadership, the Commonwealth's positive business climate and quality workforce has again been validated and showcased before a global audience."

"Virginia didn't just stand out in one or two areas -- it was solid across the board," said CNBC Senior Correspondent Scott Cohn during the live announcement this afternoon at Northrop Grumman shipyard in Newport News.

Virginia scored 1,327 out of a possible 2,021 points based on the 10- category study. The Commonwealth's best showing was No. 3 in the economy category, primarily for having one of the lowest unemployment rates of any state. Virginia tied for No. 4 in the Business Friendliness category.

"More than any other state, Virginia offers a more complete package for business. It finished in the top 15 in all but two of our categories," Cohn said. "According to our study, there are very few weak spots for business in Virginia."

First Call Analyst:
FCMN Contact:

Source: Virginia Economic Development Partnership

CONTACT: Christie Miller of Virginia Economic Development Partnership,
+1-804-545-5805, Cell: +1-804-921-0866, cmiller@yesvirginia.org

Web site:

http://www.yesvirginia.org/

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