Virginia named State of the Year by Business Facilities magazine

Our neighbor across the Potomac is ending 2024 on another economic development high note. Business Facilities magazine has just named Virginia "State of the Year." This is the third time the Old Dominion has taken home the prize since the magazine introduced the honor in 2007. Of course, it's little surprise that Virginia was named the winner, as it is one of the primary destinations of corporate headquarters relocations in America. Maryland? Dead last. Montgomery County hasn't attracted a single major corporate headquarters in over a quarter century, and the statewide record looks just as bad.

"Virginia is a prime location for businesses of all varieties, and this honor from Business Facilities underscores the work we’ve been doing since day one to make Virginia the best place for business investment and job creation," Virginia Gov. Glenn Youngkin said in a statement. "The Commonwealth has experienced record job growth from companies that are drawn by our best-in-class talent, infrastructure, and business-friendly environment. I am thrilled that Virginia has earned this recognition from a leading source for site selection experts."

Virginia Gov. Glenn Youngkin wraps up
another year of the Old Dominion cleaning
Maryland's clock at economic development

"From advanced manufacturing to data centers to professional services, Virginia is attracting companies across industries with its business-friendly environment and programs to support the distinct needs of those businesses," Business Facilities Editorial Director Anne Cosgrove said. Earlier this year, CNBC named Virginia America's top state for business. Maryland came in 31st out of 50 on that list. Ouch.

Youngkin has proposed a number of tax cuts for Virginia residents in 2025. Maryland residents are facing yet more tax hikes, as its moribund economy has depressed revenues, while legislators in Annapolis have continued to spend wildly. 

"Let's take a victory lap on
Montgomery County's bike lanes!"

With no good news to share, and the potential loss of the Washington Commanders and future FBI headquarters looming, Maryland Gov. Wes Moore has been reduced to creating distractions by endorsing the legalization of beer and wine sales in grocery stores. Residents have been demanding that for decades, and have been stiff-armed by their representatives in Annapolis every step of the way over those years. While desperation and embarrassment have led to the topic suddenly being revived by their governor and party leader, a number of powerful Democrats in Annapolis went on the record last week to suggest they will block such a move in the upcoming legislative session.

Photos courtesy Office of Gov. Glenn Youngkin