Pro-Business Climate

Virginia is the Best State for Business

Virginia provides a wealth of opportunities, a great atmosphere for development and expansion, and leadership that truly understands the importance of maintaining the best business environment for economic prosperity. Virginia's profit-friendly environment is due to:


Major Companies Consider Virginia the Ideal Location


Because of the supportive, business-friendly climate, competitive environment and ease of doing business, many companies consider Virginia their ideal choice. The Commonwealth is home to:

  • Headquarters of 23 firms with annual sales of at least $5 billion
  • Headquarters of 73 firms with annual sales of at least $500 million
  • Three companies on the Forbes list of “America’s Largest Private Companies”
  • 35 Fortune 1000 firms
  • Home to more than 750 internationally-based companies from over 40 countries
  • International companies have invested more than $8.3 billion over the past ten years
  • In the past ten years, manufacturing companies have invested $16.5 billion and created more than 70,000 new jobs in Virginia

 

Pro-Business Advantages for Companies

  • Strategic east-coast location and excellent infrastructure provide easy access to national and global markets
  • Stable, low tax costs for corporations and individuals and a 6% corporate income tax
  • Minimized payroll costs with low worker’s compensation rates and a low unemployment tax
  • Favorable business environment that protects “at will” and “right-to-work” employment practices
  • One of the highest-ranked states in high-technology employment
  • 38 established Technology Zones
  • A vibrant and diverse multi-cultural community where employees can live and work
  • An experienced, educated and productive workforce
  • Recruitment and training programs to help businesses become operational faster and maintain their competitive advantage
  • More than 2,300 qualified buildings and sites located across the Commonwealth
  • Available sites can easily be searched on VirginiaScan

 

Virginia Invests in its Economic Future

A variety of performance-based incentives, from tax credits to tax exemptions, are Virginia’s investment in its economic future. The Commonwealth works enthusiastically with new and expanding employers who demonstrate a willingness to invest in those who invest in Virginia, create a high standard of living for Virginians, and enhance local and state economies through increased revenue growth.

 

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

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