Three Fortune 500 companies are headquartered in the Virginia Beach MSA.
The Virginia Beach MSA is home to hundreds of corporate, North American and regional headquarters, including three Fortune 500 company headquarters: Dollar Tree (rank: 180), Norfolk Southern (rank: 270), and Huntington Ingalls (rank: 378). A low corporate income tax rate, affordable office space and a well-educated workforce make Virginia Beach particularly attractive to companies looking for a headquarters or major office location.
For corporate, back office and technology office operations, the City of Virginia Beach offers numerous advantages. For most companies new to Virginia Beach, the City has capped the annual business license fee (gross receipts tax) at $50 for each of the first two years of operations. The state corporate income tax rate of 6% has not changed since 1972, and qualified companies receive a $1,000 credit per each job over the first 50 created within a 12 month period. Additionally, the Commonwealth of Virginia offers a discretionary incentive grant specifically to assist companies creating significant headquarters, administrative or service sector operations.
New companies continue to choose Virginia Beach for their headquarters location:
- Hampton Roads Bankshares, which moved into a 20,000 square foot office space in Lynnhaven. This publicly traded company employs more than 530 people in four states, including nearly 100 people in Virginia Beach.
- Parsons Brinckerhoff, a global strategic consulting and engineering firm, also consolidated their regional operations into a 17,000 square foot facility in Pembroke’s Convergence Center, creating ten additional jobs.
- Clark Nexsen, another global leader in engineering services, moved its headquarters to Virginia Beach in 2014 and serve as the anchor to Town Center’s newest office tower.
A variety of real estate options are available to support headquarters and corporate back-office operations, either in urban office towers, mid-rise buildings, or traditional suburban-style office parks. The Virginia Beach MSA also has one of the most robust telecommunication infrastructure systems in the US to support all facets of corporate operations.
2nd Most Business-Friendly City in America CNNMoney.com Report
Virginia Beach named the 2nd Most Small-Business Friendly City Governing Magazine
Major Headquarters in Virginia Beach
|Gold Key | PHR||2,365|
|Harmony Investments, Inc.||656|
|Liberty Tax Service||400|
Key Positions - Average Annual Salaries
|Position||Virginia Beach MSA||United States|
Source: U.S. Bureau of Labor Statistics, MSA, USA May 2017 Data
Anthem, a major health services and managed-care company, is headquartered in Virginia Beach, with offices in both the Pembroke (Central Business) and Centerville districts. Anthem Inc., employs approximately 4,500 people nationwide, and serves more than 2.7 million customers in 13 states.
Busch Vacuum Pumps and Systems is one of the largest manufacturers of vacuum pumps, blowers and compressors in the world. With 57 companies in 39 countries and sales agents in over 46 countries, they are strategically positioned throughout the world to provide their customers with the essentials for success. In the US, Busch USA has ten facilities and is headquartered in Virginia Beach since 1975.