The team at the Virginia Economic Development Partnership
understands the complicated demands of the site selection process and offer years
of experience to help make your site selection project run smoothly. The Partnership
consists of several divisions whose combined expertise confidentially provides
the resources you need to make the most informed location decision with the least
amount of your time and effort.
Your partnership with Virginia begins with the assignment of a Business Development
Manager or International Investment Manager. The Partnership divides its business
development efforts into two markets—domestic and international. The managers
will guide you through the site selection process. He or she is your liaison with
Virginia and one of our experts in location selection for your industry. As such,
you can be assured that the most informed and experienced member of our team is
on your team.
Our managers provide a variety of services to help you with the selection process.
After an initial conversation to better understand your needs, they will prepare
a summary of the most current market, economic, and demographic information. They
will also supply individually tailored research of suitable land and buildings,
labor availability, and other issues. They can then coordinate site visits to
help you decide which of these locations is best suited to your business needs.
Your manager will also work with local utility companies and other business development
partners to ensure your requirements will be met there too. If necessary, they
will coordinate with other government agencies, helping you with such matters
as meeting environmental regulations or designing workforce training programs.
Plus, the Partnership employs experts in Business Development Finance, Technical
Services and Research to help your project team further streamline the selection
process.
Every state talks about its positive business climate.
In Virginia, we’ve let others do the talking. For the third striaght year, Virginia
is ranked the Best State for Business by Forbes.com. And, Virginia is ranked the
Top State for Business according to CNBC. In each analysis, cost of doing business,
quality of workforce, and regulatory environment all drove Virginia to the top.
A Virginia business location will positively impact your bottom line.
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
- Virginia’s competitive corporate tax rate is 6%, and has not been raised in more than 30 years
- In 2007, the average cost per unit of electricity for the industrial sector is 4.33 cents in Virginia, compared to 6.00 cents for the nation.
- Building costs in Virginia range from 6-20 percent below the national average, depending on the region of the Commonwealth.
Time and again, new businesses in Virginia comment about how pleased they are with their hardworking labor force of Virginians. In fact, Virginia facilities consistently earn productivity awards within their organizations. Growing faster than the national average, our workforce stands ready to fulfill present and future industry needs. Virginia offers customized recruiting and training services through the Virginia Department of Business Assistance. As a result of advanced training and education, combined with a vast diversity of skill sets, Virginia's workforce is one of our greatest assets, and one of business's greatest advantages.
Virginia’s extraordinary education system provides a vast pool of well-educated Virginians that support industry needs. Our workforce is repeatedly cited as a key factor for companies expanding or relocating to the Commonwealth. Virginia’s schools exhibit excellence at all levels, from elementary and secondary schools to community colleges, universities, and graduate schools.
If you live in Virginia, you'll know why visitors spend billions of dollars each year to enjoy our beautiful state. Boundless outdoor and cultural activities, and one of the nation's highest concentrations of historic resources all combine to provide limitless opportunities for recreation and relaxation. Add Virginia's variety of amusement parks and countless local attractions, and you and your family will discover just how rewarding living in Virginia year-round can be.
Virginia has one of the country’s most technically
advanced, on-line site selection search tool—VirginiaScan. VirginiaScan allows
you to search our database of more than 1,800 qualified sites and buildings
across the Commonwealth. In addition to site and building specifications, VirginiaScan
enables you to search for your ideal business location using Virginia workforce
statistics, existing business data and a host of other information that is driving
today’s business site-selection process.
To access VirginiaScan
and begin your search for the perfect site or building, click
here.
Workforce training assistance in Virginia is provided
through the Virginia Department of Business Assistance’s Virginia Jobs Investment
Program (VJIP). VJIP provides customized recruiting and training services to
companies that are creating new jobs or experiencing technological change. The
Department of Business Assistance assigns one state point-of-contact to coordinate
all the resources available to your company. Among your partners will be Virginia’s
educational and vocational institutions, Workforce Development Centers, Employment
Service Providers and more.
To learn more about the Virginia Jobs Investment
Program, please visit the Virginia
Department of Business Assistance.
Virginia actively works with expanding Virginia employers that create a higher standard of living for Virginians, enhance the local and state economies, and increase revenues to state and local governments. Incentives are Virginia's investment in its economic future and a business decision for both the Commonwealth and the company. As a result, they must make good fiscal sense for all parties.
Designed to target the needs of the company and the development plans of localities and the state, Virginia offers a variety of performance-based incentives. From tax credits to tax exemptions, Virginia continues to demonstrate its willingness to invest in those who invest and reinvest in the Commonwealth.
For a brief overview of Virginia’s business incentives, please click
here to visit the Business Incentives webpage.
For a comprehensive guide to Virginia’s business incentives, please see A
Virginia Guide To Business Incentives.
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