More concerning news about Virginia’s economic outlook emerges this week as Chief Executive magazine releases its 2017 Best & Worst States For Business rankings and shows Virginia dropping another 3 spots.
Virginia ranks 15th this year, behind neighboring North Carolina (#3) and Tennessee (#7). The problem? Virginia’s taxation and regulation. According to the rankings, Virginia scores a 5.63 out of a possible 10 in this category. Both North Carolina and Tennessee have more friendly business climates on these measures.
Just a few weeks ago, the Virginia Economic Development Partnership (VEDP) reported that since 2009, Virginia’s average rank in national business climate studies has dropped about seven spots. Virginia’s new ranking from Chief Executive magazine stands to only make this worse.
Ed Gillespie’s “Cutting Taxes for ALL Virginians” Plan will make the Commonwealth a more attractive location for businesses creation and growth and economists expect will result in 53,000 new, full-time private sector jobs and more than $300 million in new investment.
If Lieutenant Governor Ralph Northam or Congressman Tom Perriello get their way and succeed Terry McAuliffe in the governor’s mansion, Virginia will become even more hostile to business under higher taxes and out-of-control spending.
Virginians who want to see the Commonwealth back on top when it comes to being a business friendly state know that Ed Gillespie has the right plan and the leadership to make it happen.