Known for its strong workforce and solid education system, the state also offers generous tax credits, and the large portion of federal jobs that can be performed remotely helped Virginia’s economy weather the pandemic. Driven by the growth in ecommerce, the logistics sector was a bright spot in 2021. The state also saw significant interest in capital investment projects in technology and remains the leading data-center market in the world. Moog, CMA CGM Group and Crown Holdings have all announced projects here in the past year.
The Virginia Talent Accelerator Program: Provides free training and recruitment solutions to new and expanding companies, customized to their unique operations, equipment, standards and culture.
Data Center Retail Sales & Use Tax Exemption: Offers an exemption from retail sales and use tax for qualifying computer equipment purchased by data centers.
Green Job Creation Tax Credit: Offers a $500 credit against the Virginia individual or corporate income tax for each new green job paying an annual salary of at least $50,000.
Port Volume Increase Tax Credit: Offers benefits to manufacturing, distribution, agriculture, mineral and gas companies that utilize Virginia’s port facilities.
On September 1, 2021, former governor Ralph Northam announced the launch of the nation’s first official state-led Supply Chain Optimization Program. It’s designed to help Virginia businesses streamline their supply chain manage- ment and boost their global competitiveness. Companies accepted into the program receive counseling, strategy development and training resources from international trade experts to improve performance and reduce costs.
Twenty-two Fortune 500 companies headquartered in state, including: