What Are The Reasons For Starting A Business In Virginia?

Virginia offers a wealth of opportunities to small and large businesses as the business atmosphere is just perfect for growth and development. Here the leadership and authority totally understands the need for maintaining a business environment which is the best for economic prosperity. In fact, the business environment here is profit-friendly due to competitive and cost effective operating costs, the rising business incentives and stable taxes. There are various reasons for considering Virginia for starting a business.

Major companies start a business in Virginia

As already stated, Virginia has a business friendly environment, supportive and competitive environment and so companies look forward to starting a business in Virginia. It is headquarter of nearly 23 companies having annual sales of $5-$6 billion. There are 5 companies of Forbes list that are the largest private companies of America. Around 550 international companies from 40 different nations have established their hold here. There are some places in Virginia that have unemployment rate of just 3-9%. You will find here several locations to consider headquarters for your company. You may know that Vienna, in particular, houses Navy Federal Credit Union.

How Can Virginia Businesses Benefit From The Location?

The location of east coast Virginia is strategic and bears excellent infrastructure, offering an easy access to both global and national markets. Individuals and corporations have to pay low and stable taxes which comes around to just 6%. The payroll cost here is also low just like worker’s compensation rate and the unemployment tax. Apart from this, the business environment is suitable which supports ‘right to employment’ practices. Virginia is the highest ranked state when it comes to the high-tech employment. Here you will find nearly 39 technology zones well established. A diverse and vibrant multi-cultural community is an added advantage for the businesses. The workforce of Virginia is educated, experienced and immensely productive.

Some best places in Virginia to start your business

  • Tysons Corner is the top place in Virginia to start your business as it serves the central business district of Fairfax County. Here in Tysons Corner, there are around 26.4 million square feet office space. On an average, the revenue generated by businesses is $11.4 million which is huge. Top employers have offices here and it also harbors Tysons Corner Center.
  • Fairfax has just 4% unemployment percentage which is much lower when compared to other states. There are around 25.3 businesses for every 100 people. Fairfax is itself the top employer and is best known for Nursing Center.
  • Warrenton is mostly famous for The Greater Warrenton Chamber of Commerce which offers guidance and business assistance to local businesses. Through the continuous support and help, small and medium sized businesses are guided towards success and profitability.
  • Vienna is again a popular business zone of Virginia which has unemployment rate of just 2.1%. Per 100 people, Vienna has 16.3 businesses which is an impressive figure.

So, if you are looking to start a business, you may consider Vienna. There are ample growth and progress opportunities due to favorable business environment.