Virginia Named Top Competitive State of 2011

Virginia was recently named the winner of Site Selection magazine’s 2011 Competitiveness Award, which recognizes excellence on the part of a state-level economic development group. The Virginia Economic Development Partnership (VEDP) was honored at an awards ceremony on April 23.

In order to win the 2011 Competitiveness Award, Virginia scored 420.5 points in a 10-factor index, more than 25 points ahead of runner-up Texas (395). Factors in the index include total new and expanded facilities, total capital investment in new and expanded facilities, total new jobs created, state tax climate and state unemployment rate.

“This Competitiveness Award recognition is terrific, as we have put a lot of resources into economic development incentives and grants and are spending a lot of time on the road telling Virginia’s story,” said Gov. Bob McDonnell.

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