Virginia Ranks as Best State for Business for Third Year

RICHMOND, Va., July 31 /PRNewswire-USNewswire/ -- For the third consecutive
year, Virginia placed first among the 50 states in Forbes.com's "Best States
for Business" ranking. The Commonwealth finished in the top 10 in four of the
six categories examined in the review, which was published today.

Earlier this month, Virginia was recognized as a "Top State for Business" by
CNBC for the second year in a row.

"Virginia has long enjoyed a business-friendly climate. The Commonwealth's
regulatory and legal environments are tough to beat, as well as our strong,
educated labor force," said Virginia Governor Timothy M. Kaine. "This
best-in-nation validation speaks volumes to our competitiveness in today's
global market. It's a real honor to receive this recognition from Forbes.com
once, but to be named the 'Best State for Business' three years in a row is a
true accomplishment for which we should all be proud."

During Governor Kaine's administration, Virginia has been recognized as the
most business-friendly state in America (Forbes.com 2006-2008), one of the
best states for business (CNBC 2007 and 2008), the top-performing state
government in America (Governing Magazine 2008) and the state where "a child
is most likely to have a successful life (Education Week 2007)."

Governor Kaine has announced $7.4 billion in new economic development
investments and 53,159 jobs since taking office in January 2006.

Utah was ranked second, followed by Washington, North Carolina, and Georgia.
Colorado, Idaho, Florida, Texas and Nebraska rounded out the Forbes.com top
ten list.

To learn more about The Virginia Economic Development Partnership, visit
www.yesvirginia.org.

To view the ranking, visit
http://www.forbes.com/home/2008/07/30/virginia-georgia-utah-biz-cz_kb_0731beststates.html.

SOURCE Virginia Economic Development Partnership

Christie Miller of the Virginia Economic Development Partnership,
+1-804-545-5805, cell: +1-804-921-0866, cmiller@yesvirginia.org