Virginia’s low tax rates kept it high on the list of best states to conduct business. Maryland, which recently increased taxes and has one of the nation’s highest tax rates, ranks among the worst places to do business, according to newly released rankings.
The Washington Examiner reports on the findings:
But Virginia this year slipped to third place thanks largely to the state's congestion issues. Virginia's infrastructure and transportation ranking fell from 10th in 2011 to 33rd. Billions in scheduled federal budget cuts will disproportionately impact Virginia, also affecting its short fall to third.
"We want to be No. 1 in every rating, every year," said Jeff Caldwell, spokesman for Virginia Gov. Bob McDonnell. "That being said, for the sixth straight year, Virginia is one of the top 3 states in America for business. That's a notable, bipartisan accomplishment."
Across the Potomac, Maryland fell from 29th to 31st with particularly low rankings for its cost of business (42), infrastructure and transportation (43) and cost of living (43).