Virginia Ranked 4th for Business

According to Chief Executive magazine, Virginia has been ranked the "4th Best State for Business".  In the article, “business leaders were asked to draw upon their direct experience to rate each state in three general categories: taxation and regulation, quality of workforce, and living environment. Within each category respondents graded states in five subcategories, as well as ranking each in terms of its importance to the respondent and how individual states measure up.”  A link to the full article and ranking of all 50 states is provided below.

Several Thalhimer associates have identified the top business-friendly aspects of their particular market. 

     Ralph Williams talks about the Roanoke area' s advantages: 

Reasonable cost structure:  Moody’s economy.com rates the costs of doing business in the Roanoke metro at 87% of the national average, or 13% below the national average.  Similarly, the cost of living in the metro is 6% below the national average.

Talent:  There are 22 colleges and universities in the greater Roanoke area including the State’s premier research university, Virginia Tech.  There are more college students per capita here than in Boston, Austin, Raleigh and San Francisco.  That’s a treasure of talent among those nearly 90,000 students. 

Market access: Roanoke is Virginia’s most well-located metro in terms of market access, particularly into the Midwest.  From Roanoke, you are within 500 miles of Detroit, Indianapolis, and Nashville.  That location advantage is the reason that an intermodal facility is planned to be built in the Roanoke Region to service the Midwest as far away as Chicago, with a potential long-term economic development impact of between $139,000,000 and $550,000,000.        

     Dean Meyer of our Richmond office shares this information about Richmond: 

 "Companies are attracted to Richmond due to its low levels of unionization and the fact that Virginia is a right-to-work state.  Richmond attracts a quality workforce drawing from more than 40 localities statewide. Five 4-year universities provide the workforce with an ample supply of educated employees with a range of skills and experience.  Richmond has a diverse economy which has drawn 10 Fortune 1000 companies to make Richmond its headquarters.  The State Capital is in Richmond as well as the Fifth District Federal Reserve and the Fourth Circuit U.S. Court of Appeals. Richmond has grown over the years because it is an excellent place to live due to the low cost of living, cultural and recreational opportunities and the ability to live in a safe city that has minimal traffic and congestion. Richmond offers families good public school systems while providing private and parochial options."

Click here to read full article from ChiefExecutive.net

Ranking of all 50 states:  http://www.chiefexecutive.net/Media/BestAndWorstStates/2010/Default.aspx