Top States For Business: Virginia Drops Big, Maryland Stays About the Same

It's that time of the year again for one of the most anticipated state business rankings lists. CNBC has released its annual list of “America's Top States for Business” in 2015. States are ranked under ten categories and only one will be victorious. The top state on the list came as a surprise to many, Minnesota jumped from the number six spot in last year's list to become the number one state to conduct business in 2015.

In the Mid-Atlantic neither Maryland or Virginia cracked the top 10 in 2015. Virginia continued to fall in rankings with a significant drop from 8th to 12th place. The state had it's largest decline since 2011 when it was chosen as the number one place for business that year. Virginia's highest ranked category in 2015 is Business friendliness (third), it was dragged down by Cost of Doing Business (37th) and Cost of Living (32nd).

Maryland moved from 35th to 36th place in 2015 versus 2014, one space above Delaware. The data collected and used to to rank each state was collected in 2014 during the O'Malley administration and before Governor Larry Hogan took office. The current pro-business governor whom recently announced he was diagnosed with Stage 3 Non-Hodgkin Lymphoma, has focused on reducing taxes and business regulations in an effort to change Maryland's anti-business climate.

Maryland's shined under the workforce category, ranking number two. It also ranked in the top 10 for Education (sixth) and Technology and Innovation (seventh) but it was 2 spaces from last place for Cost of Doing Business, a problem often cited as the biggest determent to the states ability to lure and retain business.

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