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Forbes has ranked Virginia the No. 1 state in America to do business.

The study is based on methodology that calculates six categories: business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life.

Virginia finished in the top five in four of the six categories.

More than 20 Fortune 500 companies are in Virginia in industries like government contracting, finance, communications and energy.

Since 2010, Virginia has finished No. 2 on Forbes’ annual rankings.

“Virginia is the best state in America for business. Our desirable business climate continues to be recognized by prestigious, independent third parties like Forbes.com, and we are thrilled to regain the No. 1 spot as “‘Best State for Business,’” said Gov. Bob McDonnell in a prepared statement earlier today.

— Fairfax County Times staff