Virginia: Diversity and Resiliency
More than 400 years ago, British colonists came to Virginia shores as a business venture. Today, Virginia has preserved that legacy and expanded the commonwealth’s reputation as a leading state for business. Virginia’s diversity and resiliency are its strengths. Even during periods of economic downturn, the Commonwealth has suffered less and recovered sooner than most states. Virginia’s leadership position can be attributed to a variety of factors, including a pro-business environment that offers lower operating costs, a stable six percent corporate income tax—one of the lowest in the nation—that hasn’t increased since 1972, property tax exemptions and one of the lowest combined state/local/use taxes at five percent. In addition to its pro-business environment, Virginia offers an exceptional infrastructure, strong education system, dynamic workforce, and strategic location—all of which provide a solid foundation for growth and make the Commonwealth a great place for enterprise. more....