Energy

Industry Overview

Business in Virginia is moving with energy. With its robust and plentiful reserve of natural resources and unique, centralized geographic location, Virginia is home to more than 400 energy companies, and plays a key role in energy domestically and internationally..

Virginia's Energy Industry

  • Virginia is leading the charge to develop offshore energy, expand renewables and advocate on behalf of traditional fuels
  • Virginia's energy sector covers traditional sectors such as power generation and mining, as well as emerging areas like smart grid technology and renewable fuels
  • Employs 31,600 people primarily in conventional utilities (8,400 employees), conventional fuel mining and processing (7,700 employees) and nuclear equipment and power (6,500 employees). These three sectors comprise 72 percent of all energy employment
  • Electricity is generated by 115 power plants using fossil fuels, nuclear, biomass, natural gas, hydroelectric and municipal waste (methane)
  • Virginia is home to 399 energy companies with 673 locations across the state, including five of the nation's 85 waste-to-energy plants
  • Virginia's energy industry has a direct economic output of $16.5 billion
  • In the past 10 years, 104 energy industry projects have announced more than 4,900 new jobs and investment of $4.8 billion
  • To view the complete Energy Industry Profile, click here

Key Companies

  • ABB
  • AEP
  • AES
  • Alpha Natural Resources
  • Alstom
  • Apex Wind Energy
  • AREVA
  • Babcock & Wilcox
  • Columbia Gas
  • Covanta
  • Delta Star
  • Dominion
  • Fluor Daniel

  • GridPoint
  • Halliburton
  • Joy Mining Machinery
  • Liebherr Mining Equipment
  • Line Power
  • Mitsubishi Nuclear Systems
  • Opower
  • Paramont Coal
  • PEMCO
  • Thomas & Betts
  • Toshiba America Nuclear Energy
  • Virginia Transformer

Assets/Virginia Advantages

  • High concentration of energy research at federal labs, universities and private industry.
  • Virginia’s nuclear power sector includes leading companies in plant design, components, fuel, maintenance & shipbuilding.
  • Strong agricultural heritage provides abundant biomass resources from animal & crop waste.
  • Wood basket is ripe for pellet manufacturing.
  • Biofuel crops such as switch grass, miscanthus & winter barley grow exceptionally well in Virginia's climate.
  • Virginia has the perfect convergence of resources to ensure prosperity for the offshore wind industry, including; Shallow Water, A Strong Wind Resource and Unobstructed Access to the deep water Port of Virginia.
  • Thousands of highly trained, disciplined and motivated military personnel in Virginia enter the civilian labor force each year.
  • Virginia's affordable wages, combined with the low payroll taxes, continue to be an attractive incentive for companies desiring a less costly operating environment.
  • Virginia offers a wealth of excellent power, water, telecommunications and other business infrastructure resources necessary to succeed in today's global economy.

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

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