Virginia Named 'Best State for Business'

Virginia placed first in regulatory environment; second in labor supply; fourth in quality of life; fifth in economic climate, 17th in growth prospects and 22nd in business costs.

"Our desirable business climate continues to be recognized by prestigious, independent third parties like Forbes.com, and we are thrilled to regain the No. 1 spot as "Best State for Business," said Gov. Bob McDonnell in a news release. “This award is a great testament to the commonwealth’s transportation infrastructure, education system, skilled workforce, regulatory environment and excellent quality of life, all of which lead to strong economic growth."

North Dakota was ranked second by Forbes.com, followed by Utah, North Carolina, and Colorado. Nebraska, Texas, Minnesota, Washington and Georgia rounded out the top 10 list.

Virginia is the only state to rank in the top five in four of the study’s six categories.