{"id":246451,"date":"2022-04-25T21:26:06","date_gmt":"2022-04-26T01:26:06","guid":{"rendered":"https:\/\/chiefexecutive.net\/?page_id=246451"},"modified":"2025-04-29T14:21:18","modified_gmt":"2025-04-29T18:21:18","slug":"virginia","status":"publish","type":"page","link":"https:\/\/chiefexecutive.net\/best-worst-states-business\/virginia\/","title":{"rendered":"Virginia"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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CEO Guide to Site Selection<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Virginia<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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GLOBAL TRADE AND INNOVATION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Virginia has landed several notable projects in recent years. In 2023, Amazon announced it will build two high-tech fulfillment centers and create 1,000 jobs in the state, while Northrop Grumman announced 300 new jobs at a $200 million advanced electronics manufacturing and testing facility in Waynesboro. In 2024, CoStar Group announced the relocation of its global headquarters and 500 jobs from Washington, D.C., to Arlington County. Topsoe announced in early May 2024 that it would invest more than $400 million to build a factory in Chesterfield County. The state\u2019s trade accelerator is also helping businesses grow internationally. Virginia now exports more than $51 billion in goods and services annually, supporting over 257,000 jobs and generating more than $2 billion in tax revenue.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\u201cAs we compete with states\nacross the country for\nbusiness investment and\ntalent, our focus remains\non improving Virginia\u2019s\nbusiness-friendly environment, reducing the cost\nof doing business and\nlowering the cost of living\nso that everyone can pursue\nopportunity right here in\nthe Commonwealth.\u201d<\/div>\n\t\t\t\n\t\t\t\t\t\t
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Glenn Youngkin<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Governor<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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TAXES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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top corporate income tax<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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on the Tax\nFoundation\u2019s State Tax\nCompetitiveness Index<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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EDUCATION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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of students graduated high school in 2019<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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of adults age 25 and older have a bachelor\u2019s degree or higher<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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UNEMPLOYMENT RATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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RIGHT TO WORK STATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Yes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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QUALITY OF LIFE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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POPULATION GROWTH<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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increase between\n2020 and 2023\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\"The U.S. is positioning itself as a clean energy leader,\nand with strong support from individual states like\nVirginia, the country's clean energy future looks\nbright\u2026. Our collaboration with Virginia is just\nbeginning. In addition to the economic benefits that\nour facility would bring to the area, we\u2019re investing\nin STEM education to help the next generation of\nstudents prepare for the booming American clean\nenergy economy.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tRoeland Baan<\/span> CEO, Topsoe<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cThe involvement of the Virginia Economic Development Partnership and Albemarle County and\nthe Commonwealth\u2019s support for local businesses was critical to our ability to bring advanced\nmanufacturing jobs and economic growth to the\narea.\u201d\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tThomas Thorpe<\/span>CEO, Afton Scientific<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tKEY INCENTIVES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Data Center Retail Sales & Use Tax Exemption:<\/strong> Offers an exemption from retail sales and use tax for qualifying equipment purchased by data centers.<\/p>

Major Business Facility Job Tax Credit:<\/strong> Offers a $1,000 income tax credit for each new full-time job created over the designated threshold.<\/p>

Port Volume Increase Tax Credit:<\/strong> Offers a credit against corporate income tax of up to $250,000 for companies that increase its usage of ports by 5% in a single calendar year over its based year port cargo volume.<\/p>

Major R&D Expense Tax Credit:<\/strong> Offers a bank franchise, individual and corporate income tax credit when incurring more than $5 million in qualified R&D expenses in a taxable year.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tEDCs\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Virginia Economic Development Partnership<\/strong><\/h5>

vedp.org<\/p>

Richmond VA Economic and Community Development<\/strong><\/h5>

rva.gov\/economic-development<\/p>

Greater Richmond Partnership<\/strong><\/h5>

grpva.com<\/p>

Virginia Beach Economic Development<\/strong><\/h5>

yesvirginiabeach.com<\/p>

Norfolk Department of Economic Development<\/strong><\/h5>

norfolkdevelopment.com<\/p>

Fairfax County Economic\u00a0Development Authority<\/strong><\/h5>

fairfaxcountyeda.org<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tHIGHLIGHTED PROGRAM OR INITIATIVE\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Virginia Leaders in Export Trade (VALET) program helps companies facilitate access to international markets. The two-year international business acceleration program provides participants with international sales plan development services, assistance from international service providers, business meetings with potential partners and customized market research.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG DEALS\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • Solenis announced in January 2024 a $193 million expansion and 34 new jobs in the City of Suffolk.<\/li>
  • Danish company Topsoe announced in May 2024 it would build a $400 million factory and create 150 jobs in Chesterfield County.<\/li>
  • Condair Group AG announced in June 2024 a $57 million production facility and 180 new jobs in Chesterfield County.<\/li>
  • LS GreenLink USA announced in July 2024 it will invest $681 million in a state-of-the-art cable manufacturing facility and create 330 jobs in Chesapeake.<\/li>
  • Shamrock Farms announced in October 2024 a $59 million expansion of its manufacturing operations and 28 new jobs in Augusta County.<\/li>
  • Afton Scientific announced in October 2024 a $200 million expansion and hundreds of new jobs at its facility in Albemarle County.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG COMPANIES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Twenty-four Fortune 500 companies headquartered in state, including:<\/p>

    • Boeing<\/li>
    • Capital One Financial<\/li>
    • CarMax<\/li>
    • Dollar Tree<\/li>
    • Freddie Mac<\/li>
    • General Dynamics<\/li>
    • Northrop Grumman<\/li>
    • Performance Food Group<\/li>
    • RTX<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      CEO Guide to Site Selection Virginia GLOBAL TRADE AND INNOVATION Virginia has landed several notable projects in recent years. In 2023, Amazon announced it will build two high-tech fulfillment centers and create 1,000 jobs in the state, while Northrop Grumman announced 300 new jobs at a $200 million advanced electronics manufacturing and testing facility in […]<\/p>\n","protected":false},"author":965,"featured_media":0,"parent":59194,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-246451","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nVirginia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chiefexecutive.net\/best-worst-states-business\/virginia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Virginia\" \/>\n<meta property=\"og:description\" content=\"CEO Guide to Site Selection Virginia GLOBAL TRADE AND INNOVATION Virginia has landed several notable projects in recent years. 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