Logistically, Richmond, Virginia, offered numerous advantages over Stamford, Connecticut, says Tucker McNeil, communications director of WestRock, the company formed from the recent MeadWestvaco (MWV)/Rock-Tenn merger. The nearby Port of Norfolk would allow MWV to easily export its U.S.-manufactured packaging goods; plus, access to talent was considerable, given Virginia's expansive university system. But what really gave Virginia an edge, McNeil says, is the state's friendliness to business-a fact highlighted by Virginia's numerous tax breaks and favorable regulatory policies.

Moving a company's headquarters is no small task, but McNeil says it was well worth it for MWV since Stamford is a notoriously expensive city. So nine years ago MVW did just that-and the global packaging company continues to operate in Virginia under the WestRock umbrella. (The company's Rock-Tenn arm still has a presence in Georgia.)