Top States for Business 2021: Virginia

Virginia Score and Ranking

Category 2021 Score 2021 Rank 2019 Rank 2021 Grade Cost of Doing Business2202635B-Infrastructure1912413C+Life, Health & Inclusion24511–BWorkforce24431AEconomy1581316B+Business Friendliness137113B+Access to Capital140915B+Technology & Innovation1041617B-Education11921A+Cost of Living293232D+Total158711–

Economic Profile

Governor: Ralph Northam, Democrat

Population: 8,590,563

GDP growth (Q1 2021): 6.0%

Unemployment rate (May 2021): 4.5%

Top corporate tax rate: 6%

Top individual income tax rate: 5.75%

Gasoline tax: 29.40 cents/gallon

Bond rating (Moody’s/S&P): Aaa, stable/AAA, stable

Major private employers: Wal-Mart, Huntington Ingalls Industries, Altria Group

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody’s Investor Service, S&P Global Market…

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