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 over 40 firms with annual revenue over $1 billion.
- Three companies on the Forbes list of “America’s Largest Private Companies.”
- 32 Fortune 1000 firms.
- More than 700 internationally-based companies from 45 countries with more than $8.3 billion of investment.
- Since 2001, manufacturing companies have invested $14.5 billion and created more than 72,000 new jobs in Virginia and nearly $4 billion in capital investment.
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.
- 29 established Technology Zones
- A vibrant and diverse multi-cultural community where employees can live and work.
- An experienced, educated and productive workforce puts Virginia in the top 10 states for productivity.
- Recruitment and training programs to help businesses become operational faster and maintain their competitive advantage.
- More than 1,800 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.