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Chief Executive: Virginia in Top 10 for Best States for Business

April 30, 2025

Governor Glenn Youngkin and local leaders cut a ceremonial ribbon at an Amazon facility opening, surrounded by partners and employees under celebratory confetti.

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Virginia earned a spot in the top 10 of Chief Executive magazine’s 2025 Best and Worst States for Business, rising three places to 9^th place. Over the past five years, Virginia’s rankings have steadily remained competitive, coming in at No. 12 in 2024, No. 10 in 2023, No. 14 in 2022, and No. 13 in 2021. Access to talent, workforce training programs and strategic corporate investments continue to drive Virginia’s strong performance.

Per the magazine: “Virginia climbed three spots to break into the top 10 for the first time since 2013, its success at least partly owed to an intentional, broader geographic approach to high-tech growth beyond the already-bustling northern corridor near Washington D.C. “Our aim is tech-driven economic expansion throughout the state, not just concentrated in Northern Virginia,” says Jason El Koubi, CEO of the Virginia Economic Development Partnership.”

The issue also mentions the Virginia Talent Accelerator Program that has assisted companies such as the LEGO Group find and train employees for their upcoming $1 billion manufacturing facility.

Major investments strengthen Virginia’s economy

The magazine cites recent major announcements from companies such as Condair and Topsoe for contributing to the Commonwealth’s growing reputation as a hub for innovation and manufacturing. Topsoe announced a $400 million clean energy facility that plans to create 150 jobs, while Condair Group AG committed to a $57 million investment for a new production site, bringing 180 jobs to the region.

A business-friendly environment for growth

Virginia’s focus on business-friendly policies, lower operating costs and investments in workforce development have made the state attractive to global companies. Initiatives supporting export growth, research and development, and port usage further strengthen its competitiveness in key industries such as advanced manufacturing, clean energy and logistics.

Greater Richmond Partnership supports statewide success

The Greater Richmond Partnership and statewide partners continue to play a vital role in helping Virginia secure high-growth projects, maintain a strong economic climate and expand opportunities for businesses and workers across the Commonwealth.