Virginia is Top 3 Again in Business Facilities’ 2012 State Rankings Report
Virginia again received a top three ranking in two coveted categories—the Commonwealth was ranked No. 3 in Best Business Climate and No. 2 for Economic Growth Potential. Virginia also received top 10 recognition in the categories of Employment Leaders, Credit Quality, Per Capita Income, and Workforce Health and Safety.
According to Business Facilities magazine, "As the Commonwealth continues to rack up an impressive tally of corporate headquarters relocations, Virginia also has established itself as a high-tech hub with its new Commonwealth Center for Advanced Manufacturing, anchored by jet-engine maker Rolls-Royce."
Virginia also received recognition for its leadership in two industry sectors—Aerospace and Biotech.
The Commonwealth was ranked No. 7 in the category of Aerospace/Defense Industry Leaders. With more than 230 aerospace companies calling Virginia home, the Commonwealth continues to attract industry leaders such as Alcoa Howmet, Cobham Composite Products, Dynamic Aviation, Northrop Grumman, Dynamic Aviation, Orbital Sciences, Rockwell Collins and Rolls-Royce. First in the nation for Department of Defense Prime Contracts in 2011, companies have invested more than $1.5 billion in relocating or expanding in Virginia over the last 10 years.
Virginia was also ranked No. 2 as an Emerging Biotech Hub. Located in the heart of the mid-Atlantic life sciences cluster, Virginia offers biotech companies access to 11 federally-funded R&D centers as well as leading private institutions, such as SRI International and the Howard Hughes Medical Institute. With the highest concentration of high-tech workers according to Cyberstates 2011, it’s easy to see why nearly 800 life science companies have chosen to locate operations in the Commonwealth.
Multiple Virginia Locations Ranked Top 10 by CNN Money’s Best Places to Live
CNN Money magazine named Reston, Va., No. 7 in the overall ranking in its Best Places to Live: America’s Best Small Cities report. Reston earned a top 10 placement due to its unique combination of exceptional access to growing job markets and high quality of life.
In one important subcategory, Fastest Job Growth, three Virginia counties also won high honors.
Loudoun County earned the No. 1 spot for Fastest Job Growth and experienced the highest percentage of job growth in the nation. A leader in the technology sector, more than 50 percent of all internet traffic flows through the county daily. Now home to more than 4.3 million square feet of data centers, it is easy to see why Loudoun has earned the nickname "Data Center Ally."
Another Northern Virginia location, Prince William County, received the No. 8 ranking for Fastest Job Growth. Prince William benefits from major military employers including Quantico Marine Corps Base. Excellent quality of life in Prince William County keeps these highly-skilled workers in the region even after they exit military service.
Suffolk County, ranked No. 9 for Fastest Job Growth, offers many distribution and logistical advantages. Located in southeast Virginia, the county offers close proximity to the Port of Virginia and is serviced by two railroads and multiple interstates.
Pollina Corporate Real Estate Names Virginia a Top Pro-Business State Again
In its Top 10 Pro-Business States for 2012, Virginia received another podium placement coming in at No. 2. Virginia has held one of the top three places since the inception of the study, and was the only state in the South to break the top 10 in 2012. The study’s comments on Virginia are as follows:
"In the nine years of this study, no other state comes close to Virginia when it comes to being a consistent pro-business state. Clearly a national leader, Virginia ranked number one in our list of pro-business states for five of the last nine years, including 2009-2011. In the three years it did not take first place, it ranked second in 2005 and 2006 and third in 2008. Consistency counts a lot in corporate site selection decision-making where companies often live with decisions for years or decades. In today’s business world with all its uncertainties, a state’s reputation as a consistent pro-business winner is very valuable. Just look at Virginia’s Report Card, and you can see why any company would be proud to call Virginia their home."
To learn more about Virginia’s unique combination of assets that has allowed businesses to prosper here for more than 400 years, click here.
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