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Economy


Strong and Diversified for Greatest Stability

Virginians provide a vast array of services and manufactured goods to customers throughout the world. Our manufacturing base continues to be strong, producing everything from steel beams, wood flooring and trucks to semiconductors, robots and rocket engines. As the birthplace of the Internet and one of the leading centers of software development, Virginia's high-technology economy continues to expand. And as one of four U.S. states currently licensed and capable of launching communications satellites and other commercial payloads into space, Virginia has all the right assets to continue our economic leadership throughout the 21st century.

Fast Fact

AeA, the nation’s largest trade association representing all segments of the high-tech industry, has ranked Virginia as the national leader for its concentration of high-tech workers according to their recent report, Cyberstates 2007: A Complete State-by-State Overview of the High-Technology Industry.
  • More than 11,500 high-tech companies operate in Virginia.
  • Nearly 60 firms with annual revenue over $600 million are headquartered in Virginia.
  • Virginia is headquarters to 29 Fortune 1000 firms.
  • More than 770 foreign-affiliated firms are located in the Commonwealth.
  • Virginia ranks third among the 50 states as a recipient of federal R&D funds.
  • Virginia ranks 10th in terms of venture capital deals and 11th for total venture dollars invested.
  • Virginia ranks among the top 10 states best adapting to recent changes in the U.S. economy, according to “The 2007 State New Economy Index” published by the Information Technology and Innovation Foundation and the Ewing Marion Kauffman Foundation.
  • Virginia exported $14.1 billion of merchandise in 2006.

Top 25 Manufacturing Industries in Virginia
Major Advanced Services Employers and Federal Contractors/Integrators
Top Export Products
Major Export Destinations
Population Growth
Top Virginia Firms With Foreign Affiliations
Gross State Product
Employment By Major Sector