Virginia

Virginia

Gross State Product
$429 B As of December 2012
At a Glance
  • Population: 8,128,900
  • Governor: Bob McDonnell
  • Median Household Income: $62,936
  • Cost of Doing Business: 5.1% below nat'l avg
  • College Attainment: 34.0%
  • Net Migration (2012): 56,900
  • Moody's Bond Rating: Aaa
Profile

Virginia has ranked among the top two during each of the seven years of our annual Best States for Business study. It ranked first between 2006 and 2009. The state ranks on top of the regulatory category because of its strong incentive offerings and business friendly government policies. Virginia has a widely diverse economy that includes local and federal government, military, farming and manufacturing. The state is nicknamed Old Dominion and the Mother of Presidents after the eight U.S. presidents born there. [...] more

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Key Connections
People
Companies
Numbers
Employment
Job Growth
% 1.0,1.2,-0.1,-3.2
Projected Annual Job Growth
1.2%
Unemployment
5.7%
Median Household Income
$62,936
Household Income Growth
2.3%
Right to Work State
Yes
Union Workforce
5.6%
Housing
Median Home Price
$234,500
Home Price Change
% 5.6,-2.9,4.0,-7.1
Housing Affordability
176
Foreclosures
0.8%
Education
High School Attainment
86.6%
College Attainment
34.0%
Graduate Degrees
14.1%
Top Colleges
Quality of Life
Poverty Rate
11.5%
Crimes per 100,000 Residents
2,446
Net Migration (2012)
56,900
Mean Temperature
59
Sources: Moody's Analytics; U.S. Census; RealtyTrac; FBI; BLS; Forbes.