After being named the top state for business last year, Virginia is now the fourth best state for business according to CNBC’s annual competitiveness ranking which was announced this morning. North Carolina is the new best state for business. This is Virginia’s worst showing in the best state for business rankings since 2018. The Commonwealth’s drop in the rankings this year is linked to its Economy ranking dropping from No. 11 to number 14.CNBC says Federal job cuts disproportionately affect Virginia’s economy, a major factor in this year’s study.
