Virginia is a desirable location for manufacturers, offering companies connection to the U.S. and the world with first-class roads, rail, and port infrastructure. From craft beer and snack cakes to steel beams and flooring, to semiconductors and rocket engine manufacturers, the state of Virginia boasts a wide variety of products. Concentrated industry populations are found throughout the state, creating a solid foundation for manufacturers that are supported by a skilled and talented work pool.
Virginia’s central location on the East Coast and robust transportation network ensures optimal access to highways, railroads, airports, and seaports. Virginia is a gateway for regional and international markets. The regions extensive infrastructure includes 6 major interstates, 10 railroads, 14 commercial airports, and the third largest port on the East Coast- The Port of Virginia. As a result, nearly 50% of the U.S. population is less than a day away.
Virginia’s top-ranked educational institutions offer world-class engineering programs, excellent job training, and a pipeline of skilled workers. Universities, community colleges, and vocational schools offer accessibility to advanced technology industry training and credentials. Virginia has the third best labor supply in the nation and one of the highest college attainment rates (38.7%) according to “Forbes Best States to do Business 2018”.
Ranked No. 4 by both CNBC and Forbes for best states for business rankings, Virginia is home to 56 corporate headquarters and 37 Fortune 1000 companies. Dominion Energy electric rates are 30% below the U.S. average. Virginia has a stable 6% corporate income tax and 4.3% effective corporate tax mor mature, labor-intensive manufacturers. Virginia ranks #1 for best regulatory environment on the Forbes 2018 Best States for Business rankings. Virginia is a right-to-work state with one of the lowest unionization rates in the nation.