Virginia Beach is one of America's "Manufacturing Boomtowns" - Forbes, 2013
With its strategic location in the heart of the mid-Atlantic, Virginia Beach is well-positioned for manufacturers looking to import, export or ship their goods both domestically and internationally. Virginia Beach has
eliminated its tax on machinery, manufacturers’ inventory, and tool equipment,
and Virginia exempts manufacturers’ from
sales tax on purchases of goods used directly in production.
The Port of Virginia has fifty foot channels, the most advanced port terminals in the United States, and is less than twenty minutes away. It provides a variety of incentive programs for port users, including: Foreign Trade Zone designation, tax credits and grants.
Ranked as the seventh best performing manufacturing region in the country, our manufacturing industry employs more than 55,000 workers.
Numerous workforce development programs are in place to assist manufacturers in accessing a skilled workforce. More than 20% of the region’s manufacturers are located in the City of Virginia Beach, producing items ranging from medical equipment to electrical wiring to power tools.
Machinery and Tools Tax: $0.00
Production Machinery and Equipment: $0.00
Business Property Tax: $4.00 per $100 assessed value; Ratio of Assessment (for manufacturers): 33% of original cost
Tangible Personal Property: $4.00 per $100 assessed value; Ratio of Assessment (for manufacturers): 33% of original cost
Major Manufacturers in Virginia Beach
| Company || Employees |
|Architectural Graphics Inc.||470|
|M & G Electronics Corp.||439|
|London Bridge Trading Company, Lt.||260|
Key Positions - Average Annual Salaries
| Position || Virginia Beach MSA|| United States |
|Industrial Production Managers||$118,350||$107,060|
Source: U.S. Bureau of Labor Statistics, MSA, USA May 2016 Data
STIHL Inc., a German-based manufacturer of chain saws and other power tools, has a 90-acre, 1-million-square-foot North American headquarters facility in Virginia Beach. Its Virginia Beach location has continually expanded since its opening more than 35 years ago, and today produces more tools than any other STIHL facility worldwide. Recently, the company celebrated the production of its 50 millionth power head unit in the United States.
Architectural Graphics is one of America’s premier architectural and exterior sign design and installation firms. Founded in 1969, the company recently purchased a 150,000+ square foot building in the APZ-1 corridor for its corporate headquarters and manufacturing shop. The company has designed and installed a variety of well-known signs throughout the United States, including all of the signage at the New York Yankees stadium.