Virginia named top state for business in CNBC rankings

Virginia has been named the top state for business in CNBC’s rankings for the second year in a row. 

CNBC has been ranking the best states for business since 2007 with Virginia winning five times, the most out of any state.

Virginia is also the first to top the list two years in a row, 2019 and 2021. The outlet paused the rankings during 2020 due to the pandemic. 

The 2021 ranking was based on 10 categories with each being worth a different amount of points based on its importance. 

The categories in order of priorities were: Cost of Doing Business, Infrastructure, Life, Health and Inclusion, Workforce, Economy, Business Friendliness, Access to Capital, Technology and Innovation, Education and Cost of Living. 

A state could earn a total of 2,500 points. Virginia won with 1,587 points with Education being its strongest category and finishing at No.1 for Life, Health and Inclusion.

The state’s worst category was Cost of Living, coming in at No. 32 of all states.

In order, the other top five states were North Carolina, Utah, Texas and Tennessee. 

Hawaii was the 49th worst state and Alaska came in last place due to their high cost of living and doing business.