Virginia's companies provide services and manufactured goods to customers throughout the world. Virginia has maintained an 80+ year history in the automotive sector which includes several notable announcements over the decades, including the U.S. corporate headquarters of Volkswagen/Audi and REHAU.
Virginia's Automotive Industry
- Employs more than 16,000 workers in Virginia accounting for over 7 percent of manufacturing employment
- Virginia is home to Volvo Truck North America's New River Valley Plant, the largest Volvo truck plant in the world
- Consists of 146 companies, 110 in the automotive parts sector
- Virginia covers all aspects of the automotive industry-vehicle assembly, bodies and trailers, parts, tires and corporate offices
- Support for Virginia's automotive industry includes over 380 machine shops employing more than 5,400 people
- In the past 10 years, 101 automotive and related firms have announced over 4,600 new jobs and investments of over $1.0 billion
- The automotive industry has a direct economic output of $5.8 billion
- To view the complete Automotive Industry Profile, click here
- Afton Chemical
- Amthor International
- Carry-On Trailer
- Continental AG
- DuPont Automotive Finishes
- Dynax America
- FDP Friction Science
- Goodyear Tire & Rubber
- Hutchinson Worldwide
- KVK Precision
- Schrader Bridgeport
- Somic America
- Tenneco Automotive
- Toray Plastics
- Utility Trailer
- Volvo Trucks North America
- Yokohama Tire
- Virginia's central East Coast location and premier transportation network allow companies to reach customers anywhere in the world with ease.
- Virginia is home to a diverse set of automotive R&D facilities which allow companies to develop, test and commercialize next generation technologies.
- Virginia Tech Transportation Institute
- Virginia Tech Center for Vehicle Commercialization
- National Tire Research Center
- Southern Virginia Vehicle Motion Labs (SoVa Motion)
- Commonwealth Center for Advanced Manufacturing
- National Center for Coatings Application, Research and Education
- National Crash Analysis Center
- Virginia Modeling and Simulation Center
- Virginia's corporate income tax rate of 6% hasn't changed since 1972. Companies also benefit from tax exemptions on purchases of machinery, tools, replacement parts and raw materials used in production, as well as all utilities delivered through pipes, mains and lines for any purpose.
- The Virginia Port Authority (VPA) is the Commonwealth’s leading agency for international transportation and maritime commerce and manages Virginia’s six general cargo terminals: Norfolk International Terminals, Portsmouth Marine Terminals, Virginia International Gateway in Portsmouth, Newport News Marine Terminal, the Virginia Inland Port in Front Royal and the Port of Richmond.
- The Port of Virginia is one of the three busiest container ports on the U.S. East Coast and a leading gateway for the entire U.S. market.Â The Port boasts the single best infrastructure on the East Coast with a 50-foot ice free channel, no overhead obstructions, on-dock rail service (two Tier 1 railroads), easy access to ocean lanes, and is the only East Coast port with Congressional authorization to dredge to 55 feet.
- Ten railroads operate on the state’s network of nearly 3,400 miles of railway (excluding trackage rights). Two of the nation’s largest railroads, CSX Corporation and Norfolk Southern Corporation, are located here. Commuter rails near the larger cities allow workers to traverse efficiently.
- Workers' compensation and unemployment insurance are among the lowest in the nation. The unemployment tax burden is approximately 20% lower than the national average, and right-to-work laws allow individuals to work regardless of membership in a labor union.
- Proximity to Southern and Mid-Western automotive corridors.