Virginia Rises to #3 in CNBC’S “America’s Top States for Business” Rankings

Richmond Times-Dispatch: Governor Spanberger “Has Made Affordability Her Top Priority, and the New CNBC Rankings Show Improvement in Virginia’s Cost of Living”
RICHMOND, VA — Governor Spanberger yesterday highlighted Virginia’s rise to #3 in CNBC’s “America’s Top States for Business” rankings — and pledged to continue her bipartisan focus on attracting new investment, lowering costs for families and businesses, and building a stronger, more resilient economy in the face of economic uncertainty out of Washington.
 
In its annual rankings, CNBC spotlighted Virginia’s rise, including the Commonwealth’s continued investments in world-class infrastructure, commitment to education and workforce training, and improved cost of living. Since taking office in January, Governor Spanberger has signed a host of bipartisan laws to make life more affordable for Virginians, announced more than $5 billion in new business investment and 3,000 new jobs, and worked to set up students and other Virginians for success — including by investing in apprenticeships and launching InternshipsVA, a new statewide initiative to connect students with paid internships.
 
Read below for coverage of the Commonwealth’s rise in CNBC’s “America’s Top States for Business” rankings.
 
Virginia Mercury: Virginia climbs to third spot in CNBC ‘Top States for Business’ rankings
 
Virginia shifted from fourth to third place in CNBC’s annual “top states for business” rankings, Gov. Abigail Spanberger announced Thursday.
 
States that achieve the top bracket are considered the best in the nation for attracting or retaining companies and supporting regional economies.
 
“I think the fact that we are on the rise to number three means that we’re moving in the right direction,” Spanberger said in a phone interview Thursday afternoon.
 
“It isn’t just that the cost of doing business has improved; it’s that the cost of living has improved,” she said, citing a slate of new laws aimed at addressing housing, healthcare and energy affordability she signed this year.
 
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The CNBC ranking can serve as a progress report card for governors and lawmakers while also helping states shape new business goals.
 
Spanberger said her administration looks forward to working with legislators to expand the state’s latest economic development and quality-of-life measures. Another aim, she added, is to get Virginia back to the number one spot on the list, where it has ranked previously.
 
Richmond Times Dispatch: VA. rises to No. 3 in CNBC ‘Top States for Business’ ranking


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This year, Virginia benefited from the survey’s focus on infrastructure — from ports and highways to electric power and water supply.
 
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“Companies the world over know that Virginia has a reputation as a business environment where world-class talent, leading infrastructure, and a collaborative approach to economic and community development give companies the confidence to grow here,” Spanberger said in a statement.
 
The new governor has made affordability her top priority, and the new CNBC rankings show improvement in Virginia’s cost of living, which moved from 21st last year to 15th this year.
 
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CBS6 (Richmond): Virginia rises to No. 3, up one spot from 2025, in CNBC’s Top States for Business rankings
 
A year after receiving its lowest ranking since 2018 on CNBC’s America’s Top States for Business rankings, Virginia is back in the top three, ranked in the No. 3 spot.
 
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CNBC scores all 50 states on 138 metrics in 10 broad categories, with infrastructure being the top-weighted category in 2026. Virginia ranks second in infrastructure.
 
The new ranking is an improvement from 2025, when Virginia dropped to No. 4, after being ranked No. 1 the year prior.
 
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Gov. Abigail Spanberger issued a statement after Virginia moved up in the overall ranking.
 
“Virginia’s rise in the rankings reflects strategic investments that are helping companies succeed in our Commonwealth,” Spanberger said in part. “Companies the world over know that Virginia has a reputation as a business environment where world-class talent, leading infrastructure, and a collaborative approach to economic and community development give companies the confidence to grow here.”

8News (Richmond): Virginia rises one spot to No. 3 in CNBC ‘Top States for Business’ ranking


Virginia has risen one spot and secured third place in the annual ranking of America’s “Top States for Business.”
 
According to CNBC’s list published Thursday, July 9, Virginia beats out 47 other states across 10 categories, with infrastructure weighted the most, a change from last year’s methodology. The commonwealth placed fourth on the list last year, the lowest Virginia has ranked since 2018.
 
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13 News Now (Norfolk): Virginia moves up to #3 in CNBC’s best states for business
 
Virginia has risen in the rankings of America’s top states for business. From CNBC, the commonwealth is #3, up from #4 last year.
 
Governor Abigail Spanberger says the increase reflects major investments including the Port of Virginia’s recently created deepest and widest shipping channels on the East Coast.
 
Washington Business Journal: Virginia climbs to No. 3 in CNBC’s state business ranking after federal cuts dragged it down
 
Virginia is back in the top three in CNBC’s annual ranking of the top states for business, an annual rating that governors and the economic development set have long taken great pride in. 
 
The commonwealth checked in at No. 3 this year, up one spot from the year prior. Virginia held the No. 1 spot in 2024 but slipped to No. 4 in 2025 when the state’s economy was dinged by its exposure to President Donald Trump’s cuts to the federal government.
 
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Current Virginia Gov. Abigail Spanberger was quick to take credit for the improved ranking on Thursday.
 
“Since I took office, I have been focused on growing a stronger, more resilient economy — despite the economic uncertainty coming out of Washington, resulting in rising costs, and deep cuts to our federal workforce,” the Democrat said in a statement. “In six months, we have demonstrated success in doing just that; we have brought more than $5 billion in new business investment to communities across the Commonwealth, creating more than 3,000 new jobs.”
 
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Virginia Business: Virginia ranks No. 3 in CNBC Top States for Business list
 
Virginia ranked third in the annual CNBC Top States for Business list, up one spot from last year, the cable business news network announced Thursday morning.
 
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The governor’s office noted that Virginia’s No. 2 ranking in infrastructure reflected “major investments in recent years, including the Port of Virginia’s recently completed improvements to create the deepest, widest shipping channels on the East Coast and ongoing upgrades to the Interstate 81 corridor.”
 
Spanberger also highlighted investment in shovel-ready industrial sites, including the General Assembly’s allocation of $50 million for the Virginia Business Ready Sites Program in the current biennial budget.


WFXR (Roanoke): Virginia recognized as top state for business by CNBC
 
Virginia ranked third in CNBC’s annual list of “America’s Top States for Business.”
 
The study used 138 metrics in ten broad categories of competitiveness. Virginia scored well in education, infrastructure, and technology and innovation.
 
“Virginia’s rise in the rankings reflects strategic investments that are helping companies succeed in our Commonwealth,” said Governor Abigail Spanberger about the ranking.


ARLNow: Virginia climbs back to No. 3 in CNBC’s top states for business rankings
 
The governor’s office pointed to the No. 2 infrastructure ranking as a payoff from recent projects, including deeper shipping channels at the Port of Virginia and upgrades to the Interstate 81 corridor. It also cited workforce programs such as the Virginia Talent Accelerator Program and InternshipsVA, which Spanberger launched in February.
 
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The session also passed Spanberger’s “Affordable Virginia Agenda”, a $15 minimum wage by 2028 and the state’s first paid leave programs. Spanberger vetoed several bills along the way, and dozens of proposed tax increases never cleared the legislature.