A Welcoming Business Climate for Automotive Manufacturers

• Virginia is the northernmost right-to-work state along the I-95 Corridor.
• Virginia has had a stable 6% corporate income tax rate, one of the lowest in the nation, since 1972.
• Sound economic policy and prudent financial management has earned Virginia a AAA credit rating since 1938 — longer than any other state.
• Industrial users paid an average rate of 6.42 cents per kilowatt-hour in the winter of 2020, well below the national average of 6.61 cents per kilowatt-hour.