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Expand or Relocate to Virginia
      

Virginia Business Data

Relocate or Expand to Virginia

VA business climate, manufacturer incentives, and advantages of local communities

Business Data for Virginia


Population
7,882,590

Total Labor Force
4,340,369

Unemployment Rate
3.7%

# Manufacturers
5,564

Manufacturing Jobs
297,406

Right to Work
Yes

Unemp. Insurance Tax
0.58–6.68%


Manufacturing stats updated on 11/13/2017. All other data updated on 11/13/2017. IndustryNet is not responsible for errors or omissions.
 
Corporate Income Tax
6%; Companies pay either county or city taxes depending on location. Manufacturers may elect to use a single factor apportionment based on sales to determine their Virginia taxable income.

Sales Tax
5%. Exemptions include: Manufacturers' purchases used directly in production; items purchased for resale by distributors; pollution control equipment.; utilities delivered through lines, pipes or mains; purchases used directly and exclusively in research and development; semiconductor clean rooms or equipment used in the manufacture of a semiconductor product.

Property Tax
Assessed at local value based on 100% of Fair Market Value. Average ranges from a low of $0.28 per $100 of market value in a rural county to a high of $1.65 per $100 in a large city. Exemptions include: Solar energy facilities; energy-efficient sites; manufacturers' inventory; manufacturers' furniture/fixtures; pollution control facilities; manufacturers' generating & co-generating equipment.

Leading Mfg. Industries
(by # of employees)
15% Transportation equipment
12% Food and kindred products
9% Printing and publishing
8% Industrial machinery and equipment
7% Electronic and other electric equipment

Largest Mfg. Employers
(by # of employees)
Huntington Ingalls Industries (Newport News) - 21,800
SAIC (McLean) - 2,600
Group Trucks Operations, Cab & Vehicle Assembly (Dublin) - 2,532
Philip Morris USA (Richmond) - 2,320
Smithfield Farmland (Smithfield) - 2,300
 
Counties with the Most Mfg. Jobs
Independent Cities - 205,723
Fairfax - 34,807
Loudoun - 12,378
Rockingham - 7,064
Hanover - 5,754

Cities with the Most Mfg. Jobs
Richmond - 30,410
Newport News - 30,360
Virginia Beach - 11,192
Lynchburg - 11,155
Roanoke - 11,140

Mfg. Related Business Incentives
• Major Business Facility Job Tax Credit
• Worker Retraining Tax Credit
• Recycling Equipment Tax Credit
• Green Job Creation Tax Credit
• Refundable R & D Expenses Tax Credit; Port Volume Increase Tax Credit; Int'l Trade Facility Tax Credit; Barge & Rail Use Tax Credit
• Virginia Jobs Investment Program (VJIP)
• Virginia Small Business Financing Authority (VSBFA)
• Enterprise Zone Job Creation Grants
• Enterprise Zone Real Property Investment Grant
• Governor's Opportunity Fund (GOF)
• Virginia Investment Partnership Grant (VIP)
• Major Eligible Employer Grant (MEE)
• VA Economic Development Incentive Grant (VEDIG)
• Clean Energy Manufacturing Incentive Grant Program (CEMIG)
• Economic Development Access Program
• Industrial Development Bonds (IDBs)
• Virginia Capital Access Program (VCAP)

Economic development agencies, chambers of commerce, and other organizations & businesses available to assist with your relocation to or from Virginia

Topeka, KS
Striving to recruit new business & help companies expand in Kansas
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