RICHMOND, Va. — A year after receiving its lowest ranking since 2018 on CNBC's America's Top States for Business rankings, Virginia is back in the top three, ranked in the No. 3 spot.
Ohio and North Carolina hold the two spots ahead of Virginia.
CNBC scores all 50 states on 138 metrics in 10 broad categories, with infrastructure being the top-weighted category in 2026. Virginia ranks second in infrastructure.
The new ranking is an improvement from 2025, when Virginia dropped to No. 4, after being ranked No. 1 the year prior.
In 2025, the top-weighted category was the economy. CNBC pointed to federal job cuts by the Trump administration and their impact as part of the reason behind Virginia's drop.
Virginia's economy ranked 14th in 2025. It now sits at No. 23.
When the 2025 rankings were released, former Governor Glenn Youngkin, who defended the federal cuts, said CNBC did not factor in Virginia's private sector growth when making the list.
"CNBC fails to recognize that our private sector growth has been at record levels, with $121 billion in business investment committed and record job growth, with 270,000 more Virginians working and roughly 200,000 open and unfilled jobs," he said in 2025.
Gov. Abigail Spanberger issued a statement after Virginia moved up in the overall ranking.
"Virginia’s rise in the rankings reflects strategic investments that are helping companies succeed in our Commonwealth," Spanberger said in part. "Companies the world over know that Virginia has a reputation as a business environment where world-class talent, leading infrastructure, and a collaborative approach to economic and community development give companies the confidence to grow here."
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