Learn more about relocating or expanding to Virginia

Virginia business climate, manufacturer incentives, and advantages of VA communities

Relocate or Expand to Virginia - U.S. Industrial Expansion & Relocation Guide for Manufacturing Companies - Learn more about the Virginia business climate, manufacturer incentives, and advantages of VA communities. Helping decision makers at U.S. manufacturing establishments find new locations to relocate or expand.
Virginia Business Data*


Population: 7,882,590
Total Labor Force: 4,248,000
Unemployment Rate: 5.0%
Number of Manufacturers: 5,984
Manufacturing Jobs: 306,798
Right to Work: Yes
Unemp. Ins. Tax: 0.586.68%
Corporate Income Tax:
6%; Companies pay either county or city taxes depending on location. Manufacturers may elect to use a single factor apportionment based on sales to determine their Virginia taxable income.

Sales Tax:
5%. Exemptions include: Manufacturers' purchases used directly in production; items purchased for resale by distributors; pollution control equipment.; utilities delivered through lines, pipes or mains; purchases used directly and exclusively in research and development; semiconductor clean rooms or equipment used in the manufacture of a semiconductor product.

Property Tax:
Assessed at local value based on 100% of Fair Market Value. Average ranges from a low of $0.28 per $100 of market value in a rural county to a high of $1.65 per $100 in a large city. Exemptions include: Solar energy facilities; energy-efficient sites; manufacturers' inventory; manufacturers' furniture/fixtures; pollution control facilities; manufacturers' generating & co-generating equipment.

Leading Manufacturing Industries:
(by % of total manufacturing employment)
14% Transportation equipment
11% Food and kindred products
9% Printing and publishing
9% Industrial machinery and equipment
7% Fabricated metal products

Largest Manufacturing Establishments:
(by number of employees)
Huntington Ingalls Industries (Newport News) - 21,800
Philip Morris USA (Richmond) - 3,595
SAIC (McLean) - 2,600
Smithfield Packing Co., Inc. (Smithfield) - 2,300
E. I. du Pont de Nemours & Co. (Richmond) - 2,227
Counties with the Most Manufacturing Jobs:
Independent Cities - 212,657
Fairfax - 28,266
Loudoun - 11,226
Rockingham - 6,807
Hanover - 5,563

Cities with the Most Manufacturing Jobs:
Richmond - 31,945
Newport News - 29,697
Roanoke - 12,057
Norfolk - 11,017
Virginia Beach - 10,846

Manufacturing Related Business Incentives:
Major Business Facility Job Tax Credit
Worker Retraining Tax Credit
Recycling Equipment Tax Credit
Green Job Creation Tax Credit
Refundable R & D Expenses Tax Credit; Port Volume Increase Tax Credit; Int'l Trade Facility Tax Credit; Barge & Rail Use Tax Credit
Virginia Jobs Investment Program (VJIP)
Virginia Small Business Financing Authority (VSBFA)
Enterprise Zone Job Creation Grants
Enterprise Zone Real Property Investment Grant
Governor's Opportunity Fund (GOF)
Virginia Investment Partnership Grant (VIP)
Major Eligible Employer Grant (MEE)
VA Economic Development Incentive Grant (VEDIG)
Clean Energy Manufacturing Incentive Grant Program (CEMIG)
Economic Development Access Program
Industrial Development Bonds (IDBs)
Virginia Capital Access Program (VCAP)

Economic development agencies, chambers of commerce, and other organizations and businesses to help with your relocation or expansion:

Altavista Chamber Of Commerce
A great place to do business.
414 Washington St., Altavista, VA 24517 (Map & Aerial View)
(434) 369-6665

Looking to reach Virginia manufacturers? Access the Virginia Manufacturers Database compiled by MNI.

*Manufacturing stats updated on 3/18/2014. All other stats updated on 3/18/2014. Listings updated on 4/24/2014.

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