Business Environment
Business Environment
Virginia is an employer-friendly state with a "Right to Work" labor structure. Virginia Beach's economy is strong and diversified.
Named by WalletHub the 2022 "11th Best-Run City in America" and 2023 "4th Hardest-Working City in America", 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 transportation infrastructure that provides businesses access to more than two-thirds of the U.S. population within a two-day drive.
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. Learn what makes Virginia Beach the best city in the USA to relocate or expand your business.
Virginia Beach has NO machinery and tools tax.
In 2019, Forbes.com and Forbes Magazine placed Virginia as the 4th Best State for Business.
Virginia came in at number one for the fifth time in the 15-year history of CNBC’s 2021 ranking of America’s Top States for Business.
Demographics
Home to nearly 460,000 people, Virginia Beach is the most populous city in Virginia.
Skilled Workforce
Virginia Beach is a desirable location for the highly skilled, highly paid, high-tech workforce.
Development Incentives
The City of Virginia Beach offers a variety of incentives to qualifying new or expanding businesses to help defray costs.
Cost of Doing Business
The cost of doing business here is well below the national average.
Tax Structure
Together, the Commonwealth of Virginia and the City of Virginia Beach have one of the fairest tax structures of the 50 states.
Education System
Virginia Beach residents and employers alike benefit from an excellent comprehensive public and private education system.
Property Search
Use our interactive property map to search for the best Virginia Beach location for your business.
Major Employers
The City's business community is renowned for its highly diverse collection of industries.
Port of Virginia
The Port is built around the world’s largest natural deep-water harbor and currently stands as the third largest container port on the East Coast.