Business Climate
Numerous experts agree: Hampton Roads, Virginia, is best for business.
Hampton Roads attracts and retains many of the world’s most recognizable brands. As an Employment at Will and Right to Work state, Virginia has labor laws that appeal to employers and employees alike. And with only one local taxing authority in each community, Hampton Roads boasts some of the lowest combined state and local tax rates in the nation. There is no local income tax, unitary tax, state property tax, local license tax on headquarters and regional offices, intangible property tax, or inventory tax.
For those reasons and more, Virginia was ranked as the “Best State for Business” by Forbes.com for four of the past five years;“America’s Most Pro Business State” by Pollina; “America’s Top State for Business” by CNBC in 2009 and 2nd Best State for Business in 2010; and “One of the Five Best Places to Start a Business” by U.S. News and World Report. Hampton Roads has earned its share of accolades, too, having been ranked by The Boyd Company, Inc. as the nation’s third-lowest metropolitan area in annual operating costs for a headquarters; was cited as having the third-strongest gross metropolitan product in the U.S. by The Brookings Institution, third quarter 2009; and was ranked as the second best performing metropolitan area in the country during the recession, also by the Brookings Institution.
|
|
|
|
Companies
Fortune 500 Companies Headquartered in Hampton Roads:
Fortune 500 Companies with a presence in Hampton Roads
|
|
Click here for a listing of our Major Employers.
Business Announcements
Just like the companies we talk to, The Alliance is always on the move.
Check back often for updated stats and figures on the region's new business announcements and company expansions.
Hampton Roads Employment Creation and Capital Investment Summaries
2012 - Company Openings and Expansions
2011 - Company Openings and Expansions
2010 - Company Openings and Expansions
2009 - Company Openings and Expansions
Note: These summaries are populated via data provided by the Virginia Economic Development Partnership and are available in a sortable format within VEDP's Virginia Announcements Database
Business Resources
Below are links to resources containing valuable information we think you will find useful in developing your business in Hampton Roads.
- Virginia Guide to Establishing a Business
- Virginia Guide to Business Incentives
- Virginia Guide to Local Taxes on Businesses
- How Virginia Compares
- Business Gateway at Old Dominion University
Regional Organizations
- Hampton Roads Chamber of Commerce
- Hampton Roads Partnership
- Hampton Roads Planning District Commission
- Retail Alliance
State Organizations
