Abstract
In 2024, CNBC designated Virginia as the nation’s “Top State for Business,” marking a record sixth win for the Commonwealth in receiving this annual designation. CNBC’s annual rankings measure states’ success in creating friendly, supportive environments for businesses and workers by analyzing ten key categories of competitiveness. Numerous sources substantiate the Commonwealth’s recent achievements across these categories, with notable accomplishments in education, wage growth, infrastructure, and commerce and trade. In light of Virginia’s most recent win, this article examines the initiatives that have successfully advanced economic development in Virginia over many years.
This article introduces key economic development initiatives through the lens of legislation introduced in the 2024 General Assembly session. The bills discussed in this article sought to supplement existing economic policies and programs. Thus, they provide insight into the efforts that have fostered economic growth in the Commonwealth for years before this legislative session. This article also addresses demographic shifts in Virginia that may prompt state leaders to realign economic policies with a population that appears to be more fluid than ever. Lastly, this article contemplates economic development legislation that the 2025 General Assembly may take up and that may impact economic development in the future.
Recommended Citation
Margaret C. Rockwell,
A Review of Virginia's 2024 Economic Development Legislation and the Legacy of the Commonwealth's Economic Policies,
28
Rich. Pub. Int. L. Rev.
177
(2024).
Available at:
https://scholarship.richmond.edu/pilr/vol28/iss2/6