Virginia has been ranked as #1 by CNBC for the second consecutive year. Virginia is the only state to win this top award two consecutive years, and the first state to earn it five times total.
CNBC identified Virginia's continued focus to workforce development, and a solid education system as top contributing factors to why the state earned the award. Nearly 39% of workers in Virginia have a bachelor's degree or higher according to the U.S. Census Bureau. Virginia also boasts the third highest concentration of workers in STEM fields.
The other top five states for business were North Carolina, Utah, Texas, and Tennessee.