Virginia ranks third among the best states in the country for doing business, according to CNBC's annual comparison of all 50 states.
The state rose one place from number four last year in the 2026 America's Top States for Business rankings.
Virginia earned its highest marks for infrastructure, ranking second nationally; followed by education, where it ranked fifth (having fallen from first place in 2025); and technology and innovation, where it took sixth place, having climbed from eighth place in 2025.
The state struggled most in cost of doing business, where it ranked No. 26. It also placed No. 23 for economy and No. 15 for cost of living.
Virginia was among the nation's most competitive states for attracting businesses, investment and jobs, according to CNBC.
CNBC scored the states on 138 measurements across 10 categories. Here's where Virginia ranked by category:
The rankings do not measure only taxes or regulations, and they are not specifically a ranking of the best states for starting a small business. A state can perform well overall while carrying high business or living costs or rank poorly in quality of life while remaining attractive because of its workforce, economy or infrastructure.
The rankings are intended to reflect factors companies consider when deciding where to locate or expand. Each category is weighted according to how often states emphasize it in their own economic-development pitches.
Infrastructure carried the most weight this year as companies placed greater emphasis on transportation connections, dependable utilities, water supplies and the energy needed for advanced manufacturing and data centers. CNBC also considered the ease of obtaining permits for the first time.
The economy, which was the most heavily weighted category in 2025, moved to second place, followed by workforce.
States could receive a maximum of 2,500 points.
Ohio finished first overall with 1,623 points, followed by North Carolina, Virginia, Texas and Minnesota. Ohio's No. 1 finish was the state's first in the 20-year history of the CNBC rankings.
North Carolina, the 2025 winner, finished nine points behind Ohio with 1,614 points.
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