The latest Business Facilities’ 2011 State Rankings Report says Virginia has the most economic growth potential in the nation. The report cites Gov. Bob McDonnell’s executive order creating a state Economic Development and Jobs Creation Commission as part of his mission to improve the business climate as a key part of the commonwealth’s rating.
“Virginia has parlayed its close proximity to Washington, D.C. — a natural magnet for government contractors—into a powerhouse push to make the commonwealth a prime location for corporate headquarters, including Northrop Grumman and ITT’s Defense & Information Solutions unit,” the report says.
It also cites the creation of the Commonwealth Center for Advanced Manufacturing, a collaborative research facility in Prince George County charged with speeding up the fruits of laboratory innovations to manufacturing production lines to improve efficiency and proucts.
