WASHINGTON — Virginia could once boast the crown of the top state for businesses on CNBC’s annual list, but it has been slipping in recent years, and fell to its lowest level this time since CNBC began ranking states nine years ago.
Virginia ranks 13th on the 2016 Best States for Business list, down from number 12 last year.
Virginia still scores well for business friendliness, the quality of its workforce and education levels. But the Commonwealth gets poor marks for the cost of living, the general economy and infrastructure. And Virginia ranks 36th out of 50 states for the cost of doing business.
Virginia consistently ranked first or second when CNBC started publishing its annual list in 2007, but began sliding down the rankings in 2012.
Maryland scores even worse, ranking number 30. Maryland’s worst showing also came in the cost of doing business, where they rank 48th out of 50. The state also scores poorly for cost of living and infrastructure.
CNBC’s 2016 list ranks Utah the number-one state for doing business. Colorado ranks number one for workforce; Texas ranks first for its economy, and Washington state top the list for technology and innovation.
You can see CNBC’s 2016 list of Best States for Business here.