Forbes: W&M helps make Virginia best state for business

In a recent article Forbes.com credits William and Mary and Virginia higher education with helping the state remain “the best state for business” for the third year in a row.

The article, which ran July 31, recognized The College of William and Mary as one of the state’s top colleges.

“Virginia remains an excellent location for new or existing businesses,” the article said. “It has the best regulatory environment by our count, thanks to the second-best incentive programs in the country--as well as the fifth best tort atmosphere. Other high points include energy costs 30% below the national average and an educated labor force fueled by its proximity to Washington, D.C., and top colleges like the University of Virginia and William and Mary.”

Virginia Governor Tim Kaine recognized higher education’s contributions to the Virginia labor force in a statement released July 31 about the Forbes’ ranking: “The Commonwealth’s regulatory and legal environments are tough to beat, as well as our strong, educated labor force,” said Governor 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.”

A recent study found that William and Mary contributes more than $539 million and some 7,100 jobs to Virginia’s economy. The study, conducted by The Wessex Group, Ltd. of Williamsburg, examined the school’s economic impact on the Greater Williamsburg community, the Hampton Roads region and the Commonwealth of Virginia.

The complete Forbes article may be viewed online at http://www.forbes.com/2008/07/30/virginia-georgia-utah-biz-cz_kb_0731beststates.html.