Gov. Tim Kaine today highlighted Virginia’s ranking among the “Five Best States to Start a Business.” The recognition by U.S. News & World Report this week comes on the heels of the Commonwealth’s sixth No. 1 ranking for its pro-business environment.

“The latest accolades accorded the Commonwealth demonstrate that Virginia remains a power player among business-friendly states,” Kaine said. “As we work to get our economy back on track, it’s great to be recognized for continuing to attract innovative businesses to Virginia.”

From U.S. News & World Report: “Virginia- This state is not just ‘purple’ in its voting patterns. Like blue states such as Massachusetts, it mixes the highly educated workforce and technological sophistication. And like red states such as Texas, Virginia is known for its low taxes. This state boasts the highest number of information technology jobs in non-IT industries as a total share of jobs, which indicates that Virginia’s businesses are more technologically advanced than businesses in other states.”

To compile its report, U.S. News & World Report examined two leading studies that measure a state’s ability to promote entrepreneurship: the 2008 New State Economy Index from the Kauffman Foundation and the Information Technology and Innovation Foundation, and 2008’s Small Business Survival Index from the Small Business and Entrepreneurship Council.