Virginia Tops Mid-Atlantic Region in Chief Executive Magazine’s 2024 CEO Survey of Best and Worst States for Business

NASHVILLE, Tenn., April 24, 2024 /PRNewswire/ — CEOs surveyed for Chief Executive magazine’s annual list of the Best and Worst States for Business ranked Virginia as the top Mid-Atlantic state and the 12th-best state for business overall, maintaining its position on the list from last year. The rankings, released in the Spring issue of Chief Executive, reflect Virginia’s ongoing efforts to expand and invest in local communities.

The ranking is based on a survey of more than 500 CEOs across the country who were asked to rate states based on their opinion of how easy it was to do business in that state versus others. Virginia’s high ranking is a reflection of the state’s commitment to create a welcoming environment for businesses of all sizes and industries.

Virginia truly stands out as a beacon for success in the Mid-Atlantic region,” said Chris Chalk, Publisher, Chief Executive magazine. “From its strong economy to its world-class education system and quality of life, Virginia offers businesses a competitive edge.”

Virginia remains a thriving hub for tech companies and organizations seeking to position their headquarters near Washington, D.C. Amazon, which already has a significant presence in the state, also announced in January it will invest $35 billion by 2040 to establish new data centers and create 1,000 jobs across Virginia. “Virginia is a world leader in innovation and cloud computing, thanks to its investment in a robust, highly skilled workforce and emphasis on long-term public and private partnerships,” says Roger Wehner, Director of Economic Development at Amazon Web Services.

Here’s what some of the CEOs we surveyed had to say about why they ranked Virginia so highly:

Virginia is a safe and stable total package with ability to host almost all industries and is the best state for talent all things considered.”

Virginia is pretty easy to navigate for business licenses and other admin items; reasonable taxes; somewhat supportive of small woman-owned businesses, but requirements are weak– they are more suggestions.”

“Great resources, great people, reasonable taxes, lots of opportunities.”

“Business supportive state government and right to work state. Great infrastructure and amenities for employees.”

The Top 5 States for 2024:
1. Texas
2. Florida
3. Tennessee
4. Arizona
5. North Carolina

The Bottom 5 States for 2024:
46. Washington
47. New Jersey
48. Illinois
49. New York
50. California

Biggest Gain, 2023-24:
North Dakota, + 13 to 16th place

Biggest Loss, 2023-24:
Colorado, – 16 to 29th place

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SOURCE Chief Executive Group