A Stable and Competitive Partner

Virginia is frequently recognized for its favorable regulatory climate, and it is consistently rated one of the best-run states in the country. Virginia has earned a triple-A bond rating for more than 80 consecutive years, longer than any other state, and it benefits from low risk of natural hazards in every region. A right-to-work state with only 2.5% union membership (one of the lowest rates in the country), Virginia also offers low and stable business taxes, as well as competitive utility and construction costs.

  • Virginia is the northernmost right-to-work state along the I-95 Corridor.

  • One of the lowest in the nation, Virginia has had a stable 6.0% corporate income tax rate since 1972.

  • Industrial electricity users paid an average rate of 6.39 cents/kWh in the summer of 2019, compared to the national average of 6.91 cents/kWh.

  • Sound economic policy and prudent financial management has earned Virginia a AAA credit rating since 1938 — longer than any other state.

ADP, Norfolk

Virginia: America’s Corporate Hometown

For decades, Virginia has been a top place for business. Home to many U.S. and international headquarters, Virginia has the right business environment for your success.

A conversation with Steve Presley

Chairman and CEO

2 out of 3 Fortune 500 companies in greater D.C. are in Northern Virginia

25 firms headquartered in Virginia with annual sales of at least $5 billion

There’s a general consensus in the state legislature of the importance of business, and [that isn’t] tied to a particular party.

Mike Petters

President and CEO, Huntington Ingalls Industries

1901 Group, Fairfax County
1901 Group, Fairfax County

Case Study - 1901 Group Expands Footprint with Third Virginia Location

In March 2020, 1901 Group announced plans to invest $1.15 million to establish its third Virginia operation and create 150 new jobs in Washington County. The new 1901 Group Operations Center at the Virginia Highlands Small Business Incubator in Abingdon will expand the company’s operational footprint and enhance its cloud-based internet technology services.

Already committed to a major joint expansion in Montgomery and Fairfax Counties, with a combined capital investment of $4 million and a total of 805 new jobs, this leading IT company plans to create 225 jobs at the corporate offices in Fairfax County by 2021 and grow its Enterprise IT Operations Center in Blacksburg, in the Roanoke-New River Valley region, by 580 new jobs.

Virginia State Capitol
Virginia State Capitol

Bipartisan Support for Business

Regional and statewide leaders have provided a solid foundation of sound business stewardship and commitment to innovation, even amidst party changes in the state’s political leadership.

VEDP + Mystery: Long-term Partners

Virginia is unique among competing states in offering Mystery a state economic development organization (EDO) partner with stable leadership. Most states have a politically appointed state EDO leadership team that is subject to change with every statewide election. The Virginia Economic Development Partnership (VEDP) is an independent, nonpartisan government organization whose leadership has never changed as a result of a gubernatorial election. Governed by a board comprised primarily of business leaders, VEDP will be a committed, capable, professional, and responsive partner.