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VIRGINIA BUSINESS SITE LOCATOR


Key to your success


there are key questions most businesses have when they’re considering expanding or establishing new operations. T e 2016 Virginia Business Site Locator Guide aims to answer those questions, and much more. We hope that when you’re done reading, you’ll agree that the commonwealth is the best place for business. If you expand or locate your business in the commonwealth, you’ll


W


hen it comes to site selection there’s no one- size-fi ts-all approach, but


join some of the country’s largest and most successful enterprises. Twenty- one Fortune 500 companies are headquartered in Virginia, including Capital One, CarMax and Advance Auto Parts. Other major corporations – such as Amazon, Ikea and Geico – also have established operations in the state. T e commonwealth also continues to shine on business rankings, snagging spots on Forbes’ and CNBC’s best states for business lists (For a breakdown of Virginia’s latest accolades, see page S7.) More


Why Virginia?T e key reasons


Location:Virginia’s central, East Coast loca- tion provides access to many customers.


• More than half of the U.S. population lives within a 750-mile radius.


• Virginia is next to Wa shington, D.C., within 300 miles of New York City and halfway be- tween Maine and Florida.


Labor Force:T e commonwealth’s workforce is large, well educated, and most importantly, ready to work.


• Virginia has a labor force of more than 4 mil- lion.


• One in three Virginians holds a bachelor’s or advanced degree.


• T e commonwealth has one of the lowest unionization rate in the country — 6.2 per- cent.


S4 AUGUST 2016 ADVERTISING


Low business costs: Locating in Virginia could mean more money in your pocket.


• T e corporate income tax rate (6 percent) has not increased since 1972.


• T e unemployment insurance tax rate is 12 percent lower than the national average.


• Virginia has one of the lowest average work- er’s compensation costs in the nation.


• Building costs range from 6 percent to 21 per- cent below the national average, depending on the region.


• T e commonwealth’s cost of living is below the national average in many categories.


• No franchise or net worth tax.


Key to your success


important than rankings, however, are the reasons why companies are choosing Virginia. Flip to page S6 to hear from company executives who said yes to locating or expanding their business in the commonwealth. T e Site Locator Guide also provides a breakdown on the state’s research and development facilities; colleges and universities; industry employment projections and much more. But before getting to the nitty-gritty details, here are the highlights of why Virginia is the right site for your business.


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