A Stable and Competitive Partner

Virginia is frequently recognized for its favorable regulatory climate, and it is consistently rated one of the best-run states in the country. Virginia has earned a triple-A bond rating for more than 80 consecutive years, longer than any other state, and it benefits from low risk of natural hazards in every region. A right-to-work state with only 2.5% union membership (one of the lowest rates in the country), Virginia also offers low and stable business taxes, as well as competitive utility and construction costs.

  • Virginia is the northernmost right-to-work state along the I-95 Corridor.

  • One of the lowest in the nation, Virginia has had a stable 6.0% corporate income tax rate since 1972.

  • Industrial electricity users paid an average rate of 6.39 cents/kWh in the summer of 2019, compared to the national average of 6.91 cents/kWh.

  • Sound economic policy and prudent financial management has earned Virginia a AAA credit rating since 1938 — longer than any other state.

ADP, Norfolk