It is no secret that the Commonwealth of Virginia is a top state for business. It has earned many accolades, and to prove it, one need look no further than Amazon's decision to locate its HQ2 in the state. With pro-business state policies, exceptional credit, and low tax rates, our state provides a quality environment for success. From fledging startups looking to grow, to 1,000+ employee corporations looking to expand, Virginia is fiscally responsible, pro-business, and ready to partner with you.
|
|
Virginia | U.S. (Median) | South Atlantic (Median) |
|---|---|---|---|
|
Corporate Income Tax |
6% |
6.5% |
6% |
|
State Tax |
5% |
5.75% |
5.75% |
|
State and Local Tax Combined |
6% |
6.79% |
6.07% |
Spanning across the heart of the Commonwealth, REC’s service area offers a wide array of assets and opportunities strategically combined in a way that cannot be found elsewhere. The area is as beautiful as it is diverse. It's nestled between major interstate routes — from the Blue Ridge Mountains to the Chesapeake Bay — that connect to our nation’s most active commerce centers. Our rural to urban localities provide a base for success across industries. Whether you are looking for a quiet corner on Main Street, a modern urban space, or a greenfield site with more than 1,000 acres, we have a place for you.
Infrastructure
Whether in the physical or cyber realm, REC’s service territory has the tools to amplify the voice of your business. Through travel, freight, and digital connections, you will be plugged into wherever commerce takes place. Our infrastructure includes a strong road network, railroads, ports, airports, and fiber. See what it's like to be within a day's drive of half of the U.S. population and have fast access to your suppliers and customers.
Interstates
Virginia has the third largest state-maintained transportation network, including I-95, I-81, I-64, I-866, I-77, and I-85 — four of which traverse REC’s service territory.
Inland Port of Virginia
The Inland Port of Virginia is located in the Blue Ridge Region, within REC's service area.
It connects easily to the Port of Virginia, which is the fifth-largest port in the U.S. and one of the deepest on the East Coast, capable of handling large Panamax ships. This makes it a popular choice for shippers, as it helps speed up delivery times. The port is also linked to 16 locations in the Midwest and Southeast by rail, making it a key hub for distributing goods.
Two of the Port of Virginia’s inland points include:
Two important inland points of the Port of Virginia are:
- Richmond Marine Terminal: Offers a barge service 6 days a week between Richmond and Hampton Roads.
- Virginia Inland Terminal: Located in Front Royal, Virginia, and provides rail service for containers 5 days a week.
Airports
Virginia is home to nine commercial service and 57 general aviation airports. When you locate your business in REC’s service area, you’re only a short drive away from reaching your aviation needs.
- Washington Dulles International Airport
- Ronald Reagan Washington National Airport
- BWI Marshall Airport
- Richmond International Airport
Rail
Whether transporting passengers or freight, Virginia’s railways connect to anywhere and everywhere in the world. Between Amtrak, two major Class I railroads, and two short line railroads, REC’s service area will satisfy your company’s rail needs.
- Amtrak
- Buckingham Branch Railroad
- Chesapeake & Western Railroad
- CSX Transportation
- Norfolk Southern Railway Company
Workforce
With 22 counties and sitting between two large metropolitan areas — Washington, D.C., and Richmond — the labor pool available in REC’s service area will fulfil your talent needs. Our service area has deep roots in professional and vocational development through higher education, trade skills, apprenticeships, and career and technical education.
Regional Stats
- Average student-teacher ratios: elementary 13:1, secondary 12:1
- High school graduates, adults age 25+: 87%
- Bachelor's degree or higher, adults aged 25+: 28% (38% statewide)
- 58 higher education institutions
- More than 278,000 enrolled students
- 129 total colleges and universities in Virginia (45% within regional footprint)
State Accolades
- #1 in the mid-Atlantic region for workforce development — Site Selection Magazine, 2018 & 2019
- #1 for Workforce & Education — CNBC, 2019
- #2 State for Higher Education — SmartAsset 2020
- #2 highest concentration of technology workers of any state in the country — CompTIA Cyberstates, 2019
- #4 largest veteran workforce in the country, with almost 700,000 veterans
Quality of Life
Business assets aside, you will want to live in REC’s service area. People come to REC's footprint seeking the beauty of nature and a simpler, affordable lifestyle. Experience all four seasons in this mild climate, where outdoor activities are enjoyed all year round. A simple day trip can take you to the mountains, lakes, and the ocean for exploring or just relaxing. When you’re ready to head indoors, you won’t find an area with more museums, entertainment venues, and restaurants to satisfy all interests. Whether you want the charm of a small town or the energy of a metropolitan environment, you can find it here.
Cultural and Recreational Opportunities
- State and National Parks
- Blue Ridge Mountains
- Chesapeake Bay
- Rivers and Lakes
- Colonial and Civil War History
- Music Festivals and Concert Venues
- Breweries, Cideries, and Wineries
- Major League Sports
Lifestyle
- Value — More land and housing at a lower cost
- Health Care — Access to some of the best medical care in the country
- UVA Health Science Center — Level 1 Trauma Center, Top 100 Hospital in the U.S.
- VCU Health — Level 1 Trauma Center, Top 100 Hospital in the U.S.