Commonwealth of Virginia Incentives


Richmond: Virginia's Working Capital


The Commonwealth of Virginia is know as one of the best states in the country to do business. Due to competitive operating costs, stable tax rates and strong business incentives, Virginia is ranked at the top of major business accolades year after year.

Cost-Effective Operating Climate

With the 3rd lowest average worker's compensation costs, a low unemployment tax burden, a 6% corporate income tax rate, and low industrial sector electricity costs, Virginia offers companies major cost-effective advantages. Learn more.

Stable Taxes

Virginia is continuously named as one of the top 10 states in the country with the lowest effective tax rates for new capital investments. in 2012, The Tax Foundation ranked Virginia as the 6th most corporate tax-friendly state. Learn more.

Business Incentives

Incentives are Virginia's investment in its economic future and a business decision for both the Commonwealth and the company. From tax credits to exemptions, Virginia offers carefully designed performance-based incentives. Learn more.

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City of Richmond
Economic & Community Development

Main Street Station
1500 East Main Street, Suite 400

Richmond, VA 23219