Best States for Doing Business

 

If your business is located in Virginia, consider yourself lucky. Businesses operating in that state and in Utah and North Carolina enjoy the friendliest business environments in the country. Those doing business in West Virginia, Louisiana, and Maine face an uphill struggle, according to Forbes.com Best States for Business list.

 

Forbes ranks states based on business and living costs, jobs and income growth, business climate, education attainment, venture capital investment, and quality of life.

 

This is the second consecutive year that Virginia topped the list. West Virginia dropped one spot from 2006 to finish last in this year's rankings.

 

Virginia's top attributes include a No. 1 ranked regulatory environment, the fourth best environment for incentives, and the third lowest unemployment rate. Utah finished second overall based on its high job, income, and gross state product growth, its low unemployment, and the presence of big companies. Third-place North Carolina was rewarded for its friendly regulatory environment. Texas was recognized for its growth prospects, while Washington state ranked highly for its quality of labor.

 

West Virginia's regulatory and tort climates and its growth prospects were ranked lowest, while Louisiana was ranked lowest for attracting and retaining qualified workers. Both states have consistently performed poorly in the annual ranking of the best and worst state legal systems by the U.S. Chamber's Institute for Legal Reform (ILR). Louisiana is 48th in the 2007 ILR rankings; West Virginia is last.

 

For the complete Forbes listing, go to www.uschamber.com/goto/beststates.