CNBC recently announced that Virginia has retaken our place as the best state in the nation to do business. I’m proud of what that says about Virginia.
In Virginia, we know that a rising tide lifts all boats. We have focused on diversifying our economy, investing in our workforce and infrastructure, and keeping a stable and open business climate that sets the table for new investment and jobs in every part of the commonwealth.
Over the 18 months of our administration, we have announced 348 new economic development projects, which will create more than 50,000 new jobs, and represent over $18.5 billion in new capital investment.
These economic successes range from projects like Amazon’s new headquarters in Arlington that will create thousands of jobs, to Richlands Dairy, a family-owned commercial creamery creating 17 jobs in Dinwiddie County.
Behind these successful projects are entire regions working together. For example, attracting Amazon to Northern Virginia required the hard work and cooperation of people in Maryland, D.C. and Virginia who all recognized that the project will benefit people within and beyond the Washington area. Similarly, the dedicated funding for Metro, approved in this year’s budget, required cooperation across district and state lines to become reality. When we work together, our citizens benefit.
Dedicated Metro funding is just one of the critical investments we’re making in infrastructure that will pay long-term dividends to the commonwealth.
We made our transportation assets a priority by increasing the efficiency of our interstates, including I-81 and I-95, so they can move at the speed of business. We did this while investing in our reserves and preserving our AAA credit rating.
A key part of our strategy to make Virginia the best state for business is to invest in workforce education and training. Across industries, Virginia’s workforce is one of the most productive and educated in the country. Thirty-eight percent of our population has a bachelor’s degree or higher, making the commonwealth the sixth most educated state in the country. We raised our teacher salaries by 5% last year — the largest single-year teacher pay raise in 15 years — and we are making major investments to expand our tech talent pipeline.
We also want Virginia to be a leader for the workers that drive our economy forward. That means supporting fair wages, health care access and family-friendly policies, such as our executive order expanding family-leave options for our state workers.
I believe our policies should also reflect a welcoming attitude. My first executive order upon taking office was to ensure that no one faces discrimination in state employment. I also recently signed an executive order to support small-, women- and minority-owned businesses so that these businesses can equitably compete for state contracts.
We understand there is more to do. Housing affordability is an ongoing issue, including in the Washington area. We made significant investments in affordable housing this year, but we recognize the need to continue to invest in our housing trust fund.
Similarly, this year we made historic investments in last-mile broadband, an important need for every Virginia business and family. But we can do more, and my administration is working to make universal broadband a reality within the next decade.
We have a favorable tax climate, but we are always looking at ways to improve it, as well as eliminate redundant or inefficient regulations.
I’m proud of all that we’ve accomplished together in the first 18 months of my administration. But I know we have more work to do. Regional disparities in economic growth are shrinking, but the divide between urban and rural prosperity is still felt in many of our communities. While every region in Virginia is experiencing positive growth, many of our rural areas are losing population. There’s more work to do to bring economic prosperity to every region of the commonwealth.
I was born in Virginia. I was raised here, and I chose to build my life and raise my family here. I am proud of this state and the countless Virginians who work every day to make it a wonderful and welcoming place. CNBC has recognized what Virginians know: This is truly a great state to live and work, and yes, to do business.
Ralph Northam is governor of Virginia.
