Eat My Dust, Texas!

For all of our problems — and God knows, we dwell on them here at Bacon’s Rebellion — it gives us great cheer to see that Forbes magazine, in its first-ever ranking of the business climates of the 50 states, ranked Virginia number one.

The Old Dominion has the best regulatory environment in the country. Business costs are very low, particularly taxes and energy costs. Also noteworthy, according to Forbes, are Virginia’s AAA bond rating, low workers compensation costs and excellent system of higher education. Encouraging, too, is the fact that the state scored in the bottom half of only three of Forbes’ 30 metrics. As a Forbes writer reportedly told Gov. Timothy M. Kaine: “Not only are you guys first, there’s not even a close second.”

Read Forbes’ profile of Virginia here. And see the state rankings here. Texas ranked second, North Carolina third and Maryland 11th. (For what it’s worth, Delaware ranked 8th, Florida 9th and Georgia 10th. Can the southern Atlantic seaboard claim to be the most dynamic region in the country?)

As a Richmond resident, I was delighted to see the attention that Forbes gave to MeadWestvaco’s decision to relocate its corporate headquarters from Connecticut to my home town. Richmond is indeed a great place to do business and richly deserves the recognition. But I found it curious that Forbes could write about Virginia’s business climate without once alluding to the technology-driven economy in Northern Virginia, which has been out-performing its high-tech peers in job creation for several years now. If Forbes editors pay attention to their own survey, perhaps they will dedicate more resources to covering Northern Virginia’s increasingly dynamic business community.

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6 responses to “Eat My Dust, Texas!”

  1. Virginia Centrist Avatar
    Virginia Centrist

    Wow…that is pretty amazing. No mention of NOVA…which is growing like an Asian Tiger…

  2. Anonymous Avatar

    Wow…I suppose passing the marriage amendment will drop us to oh, what, 2nd?

    Darn shame.

  3. Anonymous Avatar

    This is great news!

    But, I like to play Devil’s advocate.

    The Forbes article states, “Business costs in Virginia are very low, particularly tax and energy costs which are seventh and ninth lowest in the country.”

    Great. But isn’t The Commonwealth about to deregulate the power industry, similar to what MD. has done?

    Also, one would be remiss if they didn’t notice that 2 of the 5 companies mentioned in the article (Northrop Grumman and General Dynamics) make a living off of the govn’t.

    In other words, that’s the taxpayer.

  4. Anonymous Avatar

    Hey, if they would let us sell aircraft carriers to private citizens, we’d be happy to!

  5. Toomanytaxes Avatar

    Just curious — how much of Virginia’s economy is dependent upon the federal government (military, contracting, the Washington, D.C. government relations/legal arena)? I know personally that much my revenue exists because of federal agencies and their regulations and enforcement practices.

  6. Ray Hyde Avatar

    “It seems that the Commonwealth of Virginia, the same Virginia just came in number one in the Forbes list for the “Best States for Business” is none other than the same Virginia that came in number one in the CCEA ranking of states on Federal misconduct convictions per 100 elected officials for the ten year period from 1986 to 1995.”

    Copied from the Commonwealth Iconoclast. Read the rest of it, it is hysterical.

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