The Turman Group, Bedford
The Turman Group, Bedford

An Attractive, Stable, and Predictable Operating Environment

  • Virginia has had a stable 6% corporate income tax rate, one of the lowest in the nation, since 1972.
  • Sound economic policy and prudent financial management has earned Virginia a AAA credit rating since 1938 — longer than any other state.
  • Virginia is the northernmost right-to-work state along the I-95 Corridor.
  • Virginia has the 5th-lowest private-sector unionization rate in the country at 2.4%.
  • In 2012, Virginia established an economic development incentive program created specifically to suit the unique aspects of forestry. Administered by VDACS, the Governor’s Agriculture and Forestry Industries Development (AFID) Fund is used by the Commonwealth in partnership with local governments to support new and expanding forestry businesses that are committed to sourcing wood products from Virginia landowners, loggers, and sawmills.