Good news from Gov. Abigail Spanberger’s office; kinda (pleasantly) surprising, actually, given that Virginia has faced a TON of headwinds since Trump took office – DOGE/federal job cuts, tariffs, cuts to Medicaid, etc. – and I was assuming that Virginia might fall in the CNBC “Best States for Business” rankings. Instead, Virginia actually went up a slot, from #4 last year when Glenn Youngkin was governor to #3 this year, when Democrats hold a governing “trifecta” in Richmond.
Governor Spanberger Statement on Virginia Rising to #3 in CNBC’s “America’s Top States for Business” Rankings
CNBC Highlighted Virginia’s World-Class Infrastructure & Exceptional Workforce Development
RICHMOND, VA — Governor Abigail Spanberger announced today that Virginia is #3 in CNBC’s annual “America’s Top States for Business” rankings, rising from last year.
“Since I took office, I have been focused on growing a stronger, more resilient economy — despite the economic uncertainty coming out of Washington, resulting in rising costs, and deep cuts to our federal workforce. In six months, we have demonstrated success in doing just that; we have brought more than $5 billion in new business investment to communities across the Commonwealth, creating more than 3,000 new jobs,” said Governor Abigail Spanberger. “We have continued to invest in our exceptional talent, world-class K-12 and higher education institutions, local childcare options, housing opportunities, and physical infrastructure.”
Governor Spanberger continued, “Virginia’s rise in the rankings reflects strategic investments that are helping companies succeed in our Commonwealth. Companies the world over know that Virginia has a reputation as a business environment where world-class talent, leading infrastructure, and a collaborative approach to economic and community development give companies the confidence to grow here.”
Virginia’s #2 ranking in the Infrastructure category reflects major investments in recent years, including The Port of Virginia’s recently completed improvements to create the deepest, widest shipping channels on the East Coast and ongoing upgrades to the Interstate 81 corridor. Additionally, for the first time, CNBC factored ease of permitting into its rankings. The Commonwealth has an established reputation for speed to market through collaboration across state, regional, and local partners. Virginia also continues to invest in business-ready sites, with the General Assembly allocating another $50 million in the Virginia Business Ready Sites Program this biennium.
“Virginia’s business climate is built on partnership. By working together across state, regional, and local levels, we have created an environment where companies of all sizes can move faster, access exceptional talent, innovate, invest, and scale,” said Secretary of Commerce and Trade Carrie Chenery. “Continued investments in custom talent and sites programs demonstrate our long-term commitment to economic competitiveness. Virginia is delivering the workforce ecosystem and competitive advantages businesses need to thrive here today and well into the future.”
Under Governor Spanberger’s leadership, Virginia continues to raise the bar for talent development. Programs such as InternshipsVA, launched by the Governor in February, and the Virginia Talent Accelerator Program — recently ranked the #1 Customized Workforce Training Program in the U.S. by Business Facilities — are helping equip the next generation of Virginians with the tools and opportunities they need to succeed. The Spanberger Administration is also deploying strategic site development investments and partnering with localities, utilities, and state agencies to fund modernized infrastructure improvements.
“Companies choose Virginia because we provide all of the things they need to succeed — a world-class talent ecosystem, robust infrastructure, project-ready sites, a collaborative and transparent permitting process, and exceptional partnership at all levels,” said VEDP President and CEO Jason El Koubi. “Through the Virginia Talent Accelerator Program, continued investments in site development, and close coordination with state agencies, localities, utilities, and regional partners, we’re helping companies reduce risk, accelerate timelines, and build for long-term success. At VEDP, our job doesn’t end when a project is announced. We remain a committed partner throughout a company’s growth journey, ensuring every business that chooses Virginia has the resources, workforce, and support to thrive.”
CNBC is a world leader in business news, and its annual “America’s Top States for Business” rankings measure all 50 states on 138 different metrics in 10 key categories of competitiveness to determine which states are delivering most effectively on the things that mean the most to business.
BACKGROUND
Since taking office in January, Governor Spanberger has remained laser-focused on building a stronger, safer, and more affordable Virginia. The Governor has signed bipartisan legislation to lower housing, healthcare, and energy costs for families, announced more than $5 billion in new business investment creating more than 3,000 new jobs across the Commonwealth, and worked to make sure Virginians have every opportunity to find stable, successful careers.
Last month, Governor Spanberger celebrated InternshipsVA — a statewide initiative to connect students with paid internships and strengthen Virginia’s workforce — winning a national Business Facilities 2026 Economic Development Organization (EDO) award. Governor Spanberger launched InternshipsVA in February as one of her first major economic development announcements, demonstrating her commitment to expanding opportunity for students in every community and strengthening Virginia’s business climate.
