Virginia climbs back to No. 3 in CNBC’s top states for business rankings

July 9, 2026 - 17:37

Virginia has moved up one spot in CNBC's yearly evaluation of the best states for business, landing at No. 3 in the 2026 rankings released Thursday. The improvement comes just one year after a wave of federal job cuts pushed the state out of the top position. In 2025, Virginia fell to fourth place after holding the No. 1 spot in 2024.

The commonwealth's rebound is notable given its heavy reliance on federal employment and contracting. CNBC's ranking considers 86 metrics across 10 categories, including workforce, infrastructure, and cost of doing business. Virginia scored particularly well in education, access to capital, and technology and innovation.

Ohio claimed the top spot for the first time in the history of the rankings, which began in 2007. Texas dropped to second place after holding the No. 1 position in 2025. Virginia's return to the top three reflects steady performance in its business climate, even as the state continues to adjust to shifts in federal spending. The rankings are based on data from government agencies, private sources, and surveys of corporate executives.