CNBC: Virginia drops in America’s Top States for Business rankings. Federal job cuts are a big reason

VIRGINIA – As Winsome Earle-Sears has continued to downplay and dismiss Donald Trump’s attacks on Virginia jobs, the Commonwealth loses the “Top State for Business” ranking. CNBC cited the attacks on jobs as part of the reason Virginia dropped from number one. 

Sears has downplayed and dismissed Trump’s attacks on jobs and was even caught on tape saying “the media is making it out to be a huge, huge thing… and I don’t understand why.” Sears said she would help Trump “get the job done” and has repeatedly defended the job cuts. 

“As Virginians have lost their jobs and faced layoffs and uncertainty, Winsome Earle-Sears has cheered on Trump’s attacks on the Commonwealth’s jobs and economy This is another devastating impact of these attacks on jobs and a reminder that Virginians can’t trust Winsome Earle-Sears to lead the Commonwealth,” said DPVA Spokesperson Maggie Amjad.

What Virginians Are Reading:

CNBC: Virginia drops in America’s Top States for Business rankings. Federal job cuts are a big reason

• Virginia, America’s Top State for Business in 2024 and a top three finisher in each of the past five years, slips this year to its worst showing since 2018.
• Federal job cuts disproportionately affect Virginia’s economy, a major factor in this year’s competitiveness study.
• Virginia is already seeing a small downturn of sorts, as the Trump administration sets out to slash the federal workforce. That hits The Old Dominion where it lives.
• In May, Virginia was one of only three states whose unemployment rate rose from the prior month, according to the U.S. Bureau of Labor Statistics.
   

The Washington Post: Federal cuts claim new victim: Virginia’s status as top state for business

• CNBC said in its write-up about Virginia that it had to take the federal actions into account because “President Trump has begun to fundamentally change the relationship between the federal government and the states. … Virginia is already seeing a small downturn of sorts, as the Trump administration sets out to slash the federal workforce.”
• Earle-Sears had often touted the top ranking on the campaign trail. 
• At the same time, Earle-Sears, like Youngkin, has vigorously defended the U.S. DOGE Service’s efforts to cut the federal workforce and impose tariffs [...]. While there might be some short-term pain, both have said, the state’s economy is strong enough to absorb the shock and help anyone who lost a job get back on their feet.
• Earle-Sears “has no reason to embrace the MAGA policies,” Scott said. “She’s running for governor. She needs to now show that she will stand up for Virginia families.”
• For Youngkin to blame CNBC for its methodology, Scott said, is akin to blaming the teacher for not liking a grade. He added: “Republicans are in denial about what Trump is doing to the economy.”

Richmond Times-Dispatch: Virginia falls out of top spot as CNBC's best state for business

• Virginia is no longer the top state for doing business in CNBC's annual ranking, reflecting an economy vulnerable to cuts in federal spending and employment under President Donald Trump.
• The diminished ranking — after Virginia won the top spot in three out of the last five years — shows the vulnerability of the state's economy to Trump's deep cuts in federal spending and employment, as well as the effects of the president's aggressive use of tariffs on trade coming through the Port of Virginia.
• Former Rep. Abigail Spanberger, D-7th, the Democratic nominee, said in a statement, "Today's rankings make clear that Virginia needs a governor who will build a more resilient economy, leverage our commonwealth's strengths to attract new investment, prepare our workforce for 21st century jobs, and stand up for our workers and small businesses in the face of ongoing threats."
• Spanberger also used the rankings to attack her Republican opponent, Lt. Gov. Winsome Earle-Sears, who generally has supported Trump's cuts to the federal workforce and spending and played down their effects on the state economy.
• "Unlike my opponent in this race, I won't dismiss threats to our workforce, our economy, and Virginia's reputation," she said. "As governor, I will always stand up to reckless policies that hurt our ability to attract new investments and retain our talent."
• Earle-Sears could not immediately be reached for comment.

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