Believe it or not, companies have improved their bottom lines just by locating
in Virginia. From soft costs like healthier, more productive workers, to hard
costs like cheaper, available and reliable electricity, these companies have
benefited from the combination of resources that only a Virginia location can
offer.
- Virginia manufacturers have one of the lowest average workers’ compensation
costs in the country. At $2.47 per $100 of payroll in January 2007, it ranks
6th lowest nationally and is more than 60 percent lower than the U.S. average.
- Unemployment tax burden that is 40 percent lower than the national average.
- Average hourly manufacturing wages that are lower than the national average
- Building costs in Virginia range from 6-20 percent below the national average,
depending on the region of the Commonwealth. Some examples:
- Fairfax – 93.2%
- Lynchburg – 86.6%
- Richmond – 89.1%
- Roanoke – 86.5%
- Norfolk – 88.2%
- Bristol – 82.0%
- Winchester – 87.0%
