TORC, Blacksburg
TORC, Blacksburg

An Attractive, Stable, and Predictable Operating Environment

  • One of the lowest in the nation, Virginia has had a stable corporate income tax of 6.0% since 1972.
  • Virginia’s metro areas offer a lower average lease cost for Class A office space than many popular headquarters locations in the United States.
  • Sound economic policy and prudent financial management has earned Virginia a AAA credit rating since 1938 — longer than any other state.
  • From highly urbanized areas to medium metros and rural areas, Virginia’s construction costs fall below the national average by 7% to 20%.
  • Virginia is the northernmost right-to-work state along the I-95 Corridor.
  • Industrial electricity users paid an average rate of 6.39 cents/kWh in the summer of 2019, compared to the national average of 6.91 cents/kWh.