Besides providing outstanding business services, the Franklin Southampton region offers an excellent transportation network, low tax structure, highly educated and skilled workforce, competitive educational resources, excellent state and local job training resources, and financial and training assistance. Besides providing outstanding business services, the Franklin Southampton region offers an excellent transportation network, low tax structure, highly educated and skilled workforce, competitive educational resources, excellent state and local job training resources, and financial and training assistance. On the State level, Forbes magazine named Virginia “Best State for Business” for its high rankings in all categories evaluated. A brief summary of that article follows. VIRGINIA: THE BEST STATE FOR BUSINESS
The Commonwealth of Virginia was recently bestowed the honor of “Best State for Business” by Forbes.com. Virginia grabbed the top spot in Forbes’ first-ever Top States for Business, released in August 2006, by placing in the top ten in each of the six categories examined. The categories included business costs, economic climate, growth prospects, labor, quality of life and regulatory environment. No other state placed in the top ten in more than three categories.
The major companies that have recently relocated corporate headquarters to Virginia, bringing thousands of new jobs, are already aware of the Commonwealth’s business friendly atmosphere. The climate is attributed to Virginia’s high quality of life and low costs of living and business.
Overall, business costs in Virginia are nine percent below the national average. The corporate income tax has remained unchanged at six percent for more than 30 years, and worker compensation is the fourth lowest in the country at 47 percent below the national average. Virginia’s ranking was also attributed to strong incentive programs, educational institutions and government infrastructure.
For more information about the Forbes’ Top States for Business rankings, visit www.forbes.com.
|
