Founded as a business venture in 1607, Virginia represented the first English settlement in North America and a gateway for enterprise. More than 400 years later, the Commonwealth has upheld its global reputation and emerged as a hub for entrepreneurship and innovation. Today, Virginia is CNBC’s Top State for Business, thanks to its pro-business environment, top-tier education system, and strategic investments in 21^st century workforce solutions.

The Commonwealth is home to the corporate headquarters of 34 Fortune 1000 firms, and continued investments from industry leaders like Amazon, Micron, Nestlé USA, and Volvo Trucks reinforce Virginia’s longstanding position as a premier business destination. The Commonwealth has meticulously crafted a supportive ecosystem for businesses to thrive, while adapting modern solutions and enhancing its centuries-old legacy as an economic powerhouse.

Yard 56, a transformative mixed-used project planned in East Baltimore on a 20-acre industrial site, was the first project in Maryland to receive an investment through the federal Opportunity Zones program. An investment by Prudential Financial Impact Investments will support the development of Phase 1, which will consist of 190,000 square feet, including LA Fitness, Streets Market, retail shops, restaurants and 100,000 square feet of office space.

“Yard 56 is a model example of how of how Opportunity Zones can help spur investment to transform a vacant brownfield site into a mixed-use development that will support the growth of adjacent neighborhoods and anchor institutions,” said Colin Tarbert, president and CEO of the Baltimore Development Corporation, which has a dedicated Opportunity Zone coordinator for the City of Baltimore.

By Secretary Mike Preston, Arkansas Department of Commerce

When Lockheed Martin was looking for a site to produce its High Mobility Artillery Rocket System, it knew it had found the perfect spot in a rural area in south central Arkansas. Over the years, the company has continued to expand the facility with its most recent expansion announced in June at the Paris Air Show. Lockheed Martin will invest $142 million in the facility, creating 326 new jobs to produce the rocket system as well as perform final assembly for Integrated Air and Missile Defense and Precision Fire products for the United States and allied military services.

“Our facility in Camden is a highly efficient, high quality center of excellence that contributes components and performs final assembly for products that are important to the defense of the United States and a growing number of allied nations,” said Frank St. John, executive vice president of Lockheed Martin Missiles and Fire Control. “The facility has a long record of precision manufacturing and on-time deliveries, which is the reason we continue to invest in and expand our Camden Operations. This expansion will help ensure the availability, affordability and quality of systems we build for our customers around the world.”

By Greg Canfield, Secretary, Alabama Department of Commerce

It’s no secret that Alabama has been a prime U.S. destination for foreign direct investment for many years.

This really began in 1993, when Mercedes-Benz selected Alabama for its first U.S. auto assembly plant. The decision, which climaxed an intense nationwide competition for a coveted industrial prize, stood as a compelling seal of approval from a gold-plated global brand.

Since then, Mercedes’ success in Alabama has served to lay a foundation for future foreign investment across the state. Mercedes found what it needed in Alabama and so have other global companies. They’ve all discovered they can assemble a high-performing workforce, build world-class products, and thrive in Alabama.

By Mark Sutherland

States and communities across the U.S. are facing shortages of available and trained workers. And Missouri is taking aggressive steps to position themselves as a national leader in the solutions to this challenge. 

In July 2019, Missouri Governor Mike Parson signed into law a piece of legislation that caused Missouri to leap ahead of states like Alabama, Louisiana, Tennessee and Georgia and become a top state for workforce development. Missouri’s new $42 million Missouri One Start program is part of a fundamental reset in how Missouri approaches economic development. The program is designed to help companies ramp up faster during an expansion by designing and delivering tailored and customized pre-employment screening, employment marketing, and job-specific training to make businesses more competitive.