​​​​Business Environment

Virginia Beach's economy is strong and diversified.

Named the "best-run city in America" by 24/7 Wall Street, Virginia Beach has a business environment perfectly aligned to meet your company's needs. The cost of doing business here is well below the national average, thanks in large part to low City and state tax rates, competitive wages and a transportation infrastructure that provides businesses access to more than two-thirds of the U.S. population within a two-day drive.

Virginia Beach is the first City in Virginia with NO machinery and tools tax.

There are plenty of reasons to relocate or expand your business in Virginia Beach – not the least of which is the support available from the Virginia Beach Department of Economic Development, and our local, regional, and state partners.​