Costs of Doing Business

Improve your bottom line just by locating your business in Southern Virginia.

  • Building costs in Southern Virginia are approximately 20% below the national average.
  • Virginia's 6% corporate income tax rate hasn't increased in over 40 years.
  • Our unemployment insurance tax rate is the 6th lowest in the US, and 12% lower than the national average.
  • We have one of the lowest average worker's comp costs in the US, and Virginia has consistently been among the lowest cost states for over 15 years.
  • The average cost per unit of electricity for the industrial sector was 6.65 cents in Virginia, compared to 7.21 cents for the nation

Real property, machinery and tools, and business equipment are taxed at the local level; our favorable tax rates reflect our commitment to keeping business operating costs low.

There are a number of incentives that may be available for your project. View a complete list of state incentives here.