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Virginia Score and Ranking
| CATEGORY | 2024 SCORE | 2024 RANK | 2023 RANK | 2024 GRADE |
|---|---|---|---|---|
| INFRASTRUCTURE | 273 | 3 | 10 | A |
| WORKFORCE | 232 | 9 | 7 | C+ |
| ECONOMY | 227 | 11 | 13 | B- |
| QUALITY OF LIFE | 189 | 19 | 16 | C+ |
| COST OF DOING BUSINESS | 160 | 24 | 34 | B |
| TECHNOLOGY & INNOVATION | 167 | 15 | 15 | B+ |
| BUSINESS FRIENDLINESS | 170 | 5 | 6 | B+ |
| EDUCATION | 91 | 1 | 1 | A+ |
| ACCESS TO CAPITAL | 58 | 8 | 4 | B+ |
| COST OF LIVING | 28 | 19 | 25 | C+ |
| OVERALL | 1595 | 1 | 2 |
Economic Profile
Governor: Glenn Youngkin, Republican
Population: 8,715,698
GDP growth (Q1 2024): 2.1%
Unemployment rate (May 2024): 2.7%
Top corporate tax rate: 6%
Top individual income tax rate: 5.75%
Gasoline tax: 52.80 cents/gallon
Bond rating (Moody's/S&P): Aaa, Stable/AAA, Stable
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 (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
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