A Stable and Competitive Partner

In 2022, Virginia was named America’s No. 3 Top State for Business by CNBC for its business-friendly regulations, stable tax environment, and competitive cost of doing business. Virginia is widely recognized as one of the best-run states in the country, ranked No. 2 for governance by U.S. News & World Report. Virginia has the 4^th-lowest private-sector unionization rate in the country, competitive costs of doing business, and state and local taxes that are lower than the nationwide average.

• Virginia is the northernmost right-to-work state along the I-95 Corridor.
• 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.