Business And Tax Climate In Virginia

For this month, let’s take a virtual trip to the Mid-Atlantic region of the United States. Commonly known as “The Old Dominion” or “Mother of Presidents”, Virginia was one of the original 13 colonies in the American Revolution and has a vast and storied history. Four of the first five U.S. Presidents were born here, which represents a Virginia Dynasty in national politics. From battles to speeches, to social movements, this land has witnessed to the value of the country. The climate and geography of the state are shaped by the Blue Ridge Mountains and the Chesapeake Bay, providing habitat for much of its flora and fauna.

Business Climate

Virginia’s land is known as the most diverse in the nation because its terrain and climate plays a big role in determining the nature of agriculture and industries in the state. Agriculture and forestry are the largest private industries in Virginia, having a total economic impact of over $91 billion. Many Virginia commodities and products rank in the top 10 among all U.S. states.

One of largest cable service providers, Xfinity by Comcast is based in Virginia, promoting the state as a leading data center market in the U.S. The state is committed to technology and innovation with pushing new boundaries in cloud computing and cybersecurity.

Virginia has been an exceptional location choice for many businesses and rated as top 10 attractive places to expand and grow. Home to the 3rd largest port on the East Coast, Virginia serves a world-class transportation and logistics center. The rapid growth in the population has fueled the real estate market in the state and thus have much more resiliency than many housing markets across the country as a result of COVID-19.
Read More