Virginia Ranks #5 on Forbes’ Best States for Business List
November 29, 2017
Forbes has published their ranking of the best states in which to do business, and Virginia landed near the top at #5. The Commonwealth’s high ranking can be attributed to several factors, including Virginia’s Gross State Product, which totaled $480 billion as of November 2017. The state’s median household income is currently $65,015, and the cost of doing business is just 0.9% above the national average.
Additionally, Virginia’s college attainment is an impressive 37%, and the job market has grown 1.4% over the last year. As Virginia REALTORS®‘ recent economic impact report revealed, Virginia’s real estate industry is the state’s second largest generator of direct economic activity.
The Old Dominion State has landed other top spots on recent Forbes lists, coming in at #2 in Regulatory Environment, and #8 in Quality of Life.
You might also like…
Housing Market March Madness: How do Virginia’s College Towns Compare?
By Abel Opoku-Adjei - March 30, 2023
It’s March Madness, one of America’s most entertaining post-season tournaments! This year’s NCAA March Madness has been entirely unpredictable. There were zero perfect bracket predictions across the country… Read More
Virginia Home Prices Climb Despite Slowing Sales
By Robin Spensieri - March 22, 2023
According to the February 2023 Virginia Home Sales Report released by Virginia REALTORS®, there were 6,505 home sales across Virginia in February. This is a 20.3% reduction compared to February… Read More
Collapse of Silicon Valley Bank and Signature Bank: What Happened and How It Impacts Your Business
By Virginia REALTORS® - March 17, 2023
By: Chief Economist Ryan Price & Deputy Chief Economist Sejal Naik Virginia REALTORS® is taking a look at the recent bank failures making headlines across the nation AND… Read More