CEO Guide to Site Selection

Virginia

GLOBAL TRADE AND INNOVATION

Virginia has landed several notable projects in recent years. In 2023, Amazon announced it will build two high-tech fulfillment centers and create 1,000 jobs in the state, while Northrop Grumman announced 300 new jobs at a $200 million advanced electronics manufacturing and testing facility in Waynesboro. In 2024, CoStar Group announced the relocation of its global headquarters and 500 jobs from Washington, D.C., to Arlington County. Topsoe announced in early May 2024 that it would invest more than $400 million to build a factory in Chesterfield County. The state’s trade accelerator is also helping businesses grow internationally. Virginia now exports more than $51 billion in goods and services annually, supporting over 257,000 jobs and generating more than $2 billion in tax revenue.

“As we compete with states across the country for business investment and talent, our focus remains on improving Virginia’s business-friendly environment, reducing the cost of doing business and lowering the cost of living so that everyone can pursue opportunity right here in the Commonwealth.”
Glenn Youngkin
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Tax Competitiveness Index

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2020 and 2023

KEY INCENTIVES

Data Center Retail Sales & Use Tax Exemption: Offers an exemption from retail sales and use tax for qualifying equipment purchased by data centers.

Major Business Facility Job Tax Credit: Offers a $1,000 income tax credit for each new full-time job created over the designated threshold.

Port Volume Increase Tax Credit: Offers a credit against corporate income tax of up to $250,000 for companies that increase its usage of ports by 5% in a single calendar year over its based year port cargo volume.

Major R&D Expense Tax Credit: Offers a bank franchise, individual and corporate income tax credit when incurring more than $5 million in qualified R&D expenses in a taxable year.

EDCs

Virginia Economic Development Partnership

vedp.org

Richmond VA Economic and Community Development

rva.gov/economic-development

Greater Richmond Partnership

grpva.com

Virginia Beach Economic Development

yesvirginiabeach.com

Norfolk Department of Economic Development

norfolkdevelopment.com

Fairfax County Economic Development Authority

fairfaxcountyeda.org

HIGHLIGHTED PROGRAM OR INITIATIVE

The Virginia Leaders in Export Trade (VALET) program helps companies facilitate access to international markets. The two-year international business acceleration program provides participants with international sales plan development services, assistance from international service providers, business meetings with potential partners and customized market research.

BIG DEALS

  • Solenis announced in January 2024 a $193 million expansion and 34 new jobs in the City of Suffolk.
  • Danish company Topsoe announced in May 2024 it would build a $400 million factory and create 150 jobs in Chesterfield County.
  • Condair Group AG announced in June 2024 a $57 million production facility and 180 new jobs in Chesterfield County.
  • LS GreenLink USA announced in July 2024 it will invest $681 million in a state-of-the-art cable manufacturing facility and create 330 jobs in Chesapeake.
  • Shamrock Farms announced in October 2024 a $59 million expansion of its manufacturing operations and 28 new jobs in Augusta County.
  • Afton Scientific announced in October 2024 a $200 million expansion and hundreds of new jobs at its facility in Albemarle County.

BIG COMPANIES

Twenty-four Fortune 500 companies headquartered in state, including:

  • Boeing
  • Capital One Financial
  • CarMax
  • Dollar Tree
  • Freddie Mac
  • General Dynamics
  • Northrop Grumman
  • Performance Food Group
  • RTX
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.