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CNBC’s 2024 rankings of Best States for Business puts Virginia at the top of the list for the third time in five years, and a record sixth time since CNBC began its rankings in 2007.
Virginia edged out last year’s top state of business, North Carolina, in what CNBC called the closest finish ever.
Maryland came in at No. 31.
Each year, CNBC ranks all 50 states on a total of 10 categories of competitiveness. Out of a total of 2,500 possible points, Virginia scored 1,595 this year
Virginia ranks No. 1 for education. CNBC said the state has a wealth of higher education opportunities, including five historically Black colleges, and state support for higher education has increased 28% over the past five years.
Virginia also scores well for infrastructure, with what CNBC calls a wealth of shovel-ready sites the state offers for companies who want to build fast.
Virginia also scored high for business friendliness, workforce, economy, technology and innovation, and quality of life. It ranked in the middle for the cost of doing business.
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