Learn more about relocating or expanding to VirginiaVirginia business climate, manufacturer incentives, and advantages of VA communities |
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Virginia Business Data*  Population: 7,882,590 Total Labor Force: 4,225,400 Unemployment Rate: 5.2% Number of Manufacturers: 6,074 Manufacturing Jobs: 305,100
Right to Work: Yes
Unemp. Ins. Tax: 0.58–6.68%
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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 Manufacturing Industries:
(by % of total manufacturing employment) 12% Transportation equipment 11% Food and kindred products 9% Printing and publishing 9% Industrial machinery and equipment 7% Electronic and other electric equipment Largest Manufacturing Establishments:
(by number of employees) Huntington Ingalls Industries (Newport News) - 19,000
Philip Morris USA (Richmond) - 3,595 SAIC (McLean) - 2,600 Smithfield Packing Co., Inc. (Smithfield) - 2,300 E. I. du Pont de Nemours & Co. (Richmond) - 2,227 |
Counties with the Most Manufacturing Jobs:
Independent Cities - 210,602 Fairfax - 26,067 Loudoun - 11,224 Rockingham - 6,758 Hanover - 5,625 Cities with the Most Manufacturing Jobs:
Richmond - 32,350 Newport News - 26,968 Roanoke - 12,238 Norfolk - 10,967 Virginia Beach - 10,948 Manufacturing 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 and businesses to help with your relocation or expansion:
Virginia Economic Development Partnership
The Partnership assists with the complicated demands of the site selection process and offers years of experience to help make the site selection project run smoothly. It consists of several divisions whose combined expertise confidentially provides the resources needed to make the most informed location decision with the least amount of time and effort.
901 East Byrd Street, Richmond, VA 23218 (Map & Aerial View)
(804) 545-5700
www.yesvirginia.org
Alleghany Highlands Economic Development Corp.
The Alleghany Highlands Economic Development Corporation is a private-public partnership economic development marketing organization for Virginia's Alleghany Highlands. Its role is to help existing businesses grow and prosper and to attract new businesses that create quality jobs and bring investment to the area.
1000 Dabney Dr., Ste. 510, Clifton Forge, VA 24422 (Map & Aerial View)
(540) 862-0936
(540) 862-0937 Fax
www.ahedc.com
City of Fairfax Economic Development Authority
The primary purpose of the EDA is to foster and stimulate economic development and redevelopment within the City of Fairfax. It supports bond financing for projects within its powers and works with the City's Economic Development Office to advance business recruiting and expansion efforts.
10455 Armstrong Street, Room 207, Fairfax, VA 22030 (Map & Aerial View)
(703) 385-7851
www.fairfaxcityeda.org
Isle Of Wight-Smithfield -Windsor Chamber Of Commerce
Business-Education. To coordinate the efforts of commerce, industry and the professions in maintaining and strengthening a sound and healthy business climate in Isle of Wight County. To sponsor an aggressive strategic plan and stimulate activities that will provide for full development of our human and economic resources.
P.O. Box 38, Smithfield, VA 23431 (Map & Aerial View)
(757) 357-3502
Thomas Jefferson Partnership
The Partnership is a 501(c)6 non-profit, public/private partnership formed to help create new jobs and investment in the Greater Charlottesville Region. TJPED integrated staff and resources with the Central Virginia Small Business Development Center and the Piedmont Workforce Network to expand its services for existing businesses, entrepreneurs, job seekers and employers.
210 Ridge-McIntire Road, Suite 100, Charlottesville, VA 22903 (Map & Aerial View)
(434) 979-5610
www.tjped.com
Virginia Beach Department of Economic Development
The Department is charged with expanding and diversifying the tax base and employment opportunities for the city through business development. It seeks to be a one-stop resource for business and site evaluation information.
222 Central Park Avenue, Suite 1000, Virginia Beach, VA 23462 (Map & Aerial View)
(757) 385-6464
www.yesvirginiabeach.com
Virginia Industrial News:
Industrial Directory Reports Virginia Gained Manufacturing Jobs Over Past Year (2/5/2013)
Industrial Directory Reports Virginia Manufacturing Jobs Remained Steady Over Past Year (1/4/2012)
Industrial Directory Reports Virginia Lost Fewer Manufacturing Jobs (1/17/2011)
Virginia Manufacturing Jobs Declined 7.1% Over Past Year (12/18/2009)
Virginia Loses Fewer Industrial Jobs Over Year According To State Industrial Directory (12/12/2008)
Industrial Directory Reports Virginia Manufacturing Jobs Down 1.9% (1/16/2008)
Virginia Industrial Jobs Down 1.6% In '06 According To Manufacturers' Directory (12/12/2006)
Industrial Directory Reports Virginia Gained Manufacturing Jobs Over Past Year (2/5/2013)
Industrial Directory Reports Virginia Manufacturing Jobs Remained Steady Over Past Year (1/4/2012)
Industrial Directory Reports Virginia Lost Fewer Manufacturing Jobs (1/17/2011)
Virginia Manufacturing Jobs Declined 7.1% Over Past Year (12/18/2009)
Virginia Loses Fewer Industrial Jobs Over Year According To State Industrial Directory (12/12/2008)
Industrial Directory Reports Virginia Manufacturing Jobs Down 1.9% (1/16/2008)
Virginia Industrial Jobs Down 1.6% In '06 According To Manufacturers' Directory (12/12/2006)
Looking to reach Virginia manufacturers? Access the Virginia Manufacturers Database compiled by MNI.
*Manufacturing stats updated on 5/17/2013. All other stats updated on 5/17/2013. Listings updated on 5/20/2013.
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