#15 Virginia


6.50 out of 10 in Taxation and Regulation

7.67 out of 10 in Workforce Quality

7.28 out of 10 in Living Environment

Right to Work?


A Global Data Center

Home to more than 4.5 million square feet of data center space, Virginia is a transit point for 70% of the world’s Internet traffic and is the largest data center market in the U.S. Amazon Web Services recently announced a new corporate campus in Herndon, adding 1,500 new jobs to the 7,000 workers it already employs in the state. Leading tech company IOMAXIS also plans to add more than 500 jobs over the next three years to support its mission to thwart cyber threats.

From the Governor

“We continue to bring in more 21st century jobs and highlight Virginia’s strong workforce and pro-business climate. My administration will continue to work to create new opportunities for families in every corner of Virginia.” — Gov. Ralph Northam

Key Industries

Aerospace, Automotive, Biotech, Corporate HQ, Cybersecurity, Energy, Food Processing, I.T., Logistics, Plastics, Processing

Key Companies

Advance Auto Parts
AMF Bowling Worldwide
BearingPoint
CareerBuilder

Key Contacts

Economic Development Partnership

Stephen Moret, President & CEO
901 East Cary Street, Suite 900
Richmond, VA 23219-4089
(804) 545-5612
moret@yesvirginia.org
http://www.yesvirginia.org/

Key Incentives

Commonwealths Development Opportunity Fund (COF): Offers “deal closing” incentives at the governor’s discretion to secure a location or expansion in the state.

Virginia Investment Partnership Grant (VIP): Encourages continued capital investment with discretionary performance incentives for manufacturers or R&D operations that have operated in the state for at least three years and make a capital investment of at least $25 million.

Tobacco Region Opportunity Fund (TROF): Provides performance-based monetary grants and loans to 34 counties to assist in the creation of new jobs and investment to revitalize the region.

Virginia Jobs Investment Program (VJIP): Offers customized recruiting, training and consulting services to reduce the workforce development costs of new and expanding companies.

New Economy Workforce Credential Grant Program: A pay-for-performance workforce training program that offers up to two-thirds of the cost of the program to support high-demand occupations that require industry-based certifications.

EDCs

Virginia Economic Development Partnership: yesvirginia.org

Virginia Economic Developers Association: goveda.org

Richmond Economic Development Authority: richmondeda.org

Greater Richmond Partnership: grpva.com

Highlighted Program or Initiative

GROW Capital Jobs Council adopted a “growth and diversification” plan in August to nurture projects that boost the number of high-paying, private sector jobs. Initiatives will focus on industries with potential for high growth and put more emphasis on commercialization of applied research at education institutions.

Big Deals

  • Dollar Tree announced in August 2016 a $110 million investment and 600 new jobs at its headquarters in Greenbrier.
  • Niagara Bottling announced in August 2016 it would create 76 new jobs and construct a $95 million facility in Chesterfield County.
  • Microsoft announced in November 2016 its fifth expansion and a $256 million investment at its data center in Mecklenburg County.
  • Amazon announced in March 2017 it would open a new fulfillment center in Clear Brook and create more than 1,000 new jobs.

Big Companies

22 Fortune 500 companies headquartered in state, including:
Freddie Mac
General Dynamics
Capital One Financial
Northrop Grumman
Dollar Tree
Altria Group
Performance Food Group
CarMax
WestRock
AES

C-Suite Testimonials

“Nestlé USA carefully considered a number of locations, and Arlington hits all the marks. The area offers appealing benefits for our current employees, as well as a great talent pool for the future. This location allows us to be closer to our business operations, our customers and other important stakeholders.” —Paul Grimwood, Chairman and CEO, Nestlé USA

“Grupo Phoenix evaluated various location options to build upon its future in the United States and chose Virginia due to a variety of factors, including a central location that allows us to be within 400 miles of 80% of the U.S. East Coast population.” —Alberto Peisach, CEO, Grupo Phoenix

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