Our study looks at six important factors for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Virginia is the only state to rank in the top five in four areas"”only missing on costs and growth prospects.

Virginia ranks first among the states in the regulatory category because of its business-friendly government policies and strong incentive offerings. The tort system is one of the best in the country for businesses, according to the Mercatus Center's report "Freedom in the 50 States." Virginia is also one of 24 right-to-work states, which explains why only 4.4 percent of its workers are in unions "” fifth-lowest in the U.S.

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