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 28,800 people primarily in conventional utilities (8,500 employees), conventional fuel mining and processing (5,300 employees) and nuclear equipment and power (6,800 employees). These three sectors comprise 71 percent of all energy employment
  • Electricity is generated by 131 power plants using fossil fuels, nuclear power, biomass, methane, water and municipal waste
  • Virginia is home to 400 energy companies with 650 locations across the state, including three of the nation's 72 waste-to-energy plants
  • Virginia's energy industry has a direct economic output of $18.3 billion
  • In the past 10 years, 84 energy industry projects have announced more than 3,700 new jobs and investment of $4.5 billion
  • To view the complete Energy Industry Profile, click here

Key Companies

  • ABB
  • AEP
  • AES
  • Aetna Insulated Wire
  • Alpha Natural Resources
  • Apex Clean Energy
  • AREVA
  • Babcock & Wilcox
  • Columbia Gas
  • Delta Star
  • Dominion
  • Fluor
  • GE

  • GridPoint
  • Jennmar
  • Joy Mining Machinery
  • Liebherr Mining Equipment
  • Line Power
  • Moog
  • Northern Virginia Electric Cooperative
  • Opower
  • PEMCO
  • Rappahannock Electric Cooperative
  • Smiths Power
  • Thomas & Betts
  • 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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