Virginia’s vibrant business ecosystem supports a fast-growing BPS industry of over 2,700 companies in a range of BPS segments – including back-office and business support services, call centers, and consulting. Industry leaders in Virginia include ADP, Navy Federal Credit Union, GEICO, T-Mobile, and EY. The BPS industry varies widely across regions of Virginia: Northern Virginia, for example, is known for major IT and consulting companies and federal contractors, while the scenic Southwest Virginia region is a cost-competitive location for back-office and call center operations.
Ranked No. 2 in the U.S. for Education and No. 3 for Workforce by CNBC, Virginia is home to almost 260,000 people employed by BPS companies and nearly a half million people working in key occupations relevant to the industry, both in the BPS industry and beyond. Virginia’s excellent education systems ensure a steady flow of new talent every year, with 60% of undergraduates staying in Virginia upon degree completion. The state’s higher education system is ranked No. 1 in the U.S. (SmartAsset, 2021), and K-12 schools are ranked No. 1 in the South and No. 4 in the U.S. (WalletHub, 2021).
ADP, Norfolk
In 2016, ADP announced plans to invest $32.25 million to establish a regional customer service center in Norfolk, creating more than 1,800 new jobs. An excellent business climate, access to a robust, skilled workforce, and the amenities to attract and retain talent set Virginia apart from the competition, and ADP continues to thrive.
Corporate travelers have access to world-class international flight service from Northern Virginia’s airports, as well as frequent direct flights from airports across Virginia to all key markets. Virginia, which ranks No. 1 among Southeastern states for public transit, offers BPS employees access to environmentally friendly transportation via rail, metro, and bus systems. The state’s long-term infrastructure investments in fiber optic connectivity have created a top environment for BPS companies to flourish, with the third-fastest average internet speed in the U.S. A recent investment of $700 million will expand broadband coverage to all of Virginia by 2024.
16 COMMERCIAL AIRPORTS
Sixteen commercial airports serving Virginia with direct flights to 100+ domestic and 50+ international destinations
$27B FOR TRANSPORTATION PROJECTS
$27 billion committed for transportation projects over the next six years
#3 FASTEST INTERNET SPEED
No. 3 fastest internet speed in the country according to WalletHub
Main Street Station, Richmond
By virtue of its position in the Eastern Time Zone, Virginia offers an easily accessible base of operations for companies expanding into the North American and European markets and its strategic location on the East Coast offers important advantages for BPS companies through proximity to key economic hubs, including critical customer markets in the Mid-Atlantic, the Northeast Corridor, and fast-growing metropolitan areas across the Southeast. Virginia’s proximity to Washington, D.C. is also a major advantage for BPS companies with federal contracts.
Christian Cerda CEO, SimpliSafeSince opening our first customer support center here in 2019, the Richmond region has proven to be the ideal place to launch SimpliSafe into its next phase of growth...and this market is rich with exceptional talent.
CoStar, Richmond
In 2021, CNBC again identified Virginia as America’s Top State for Business for its business-friendly regulations, stable tax environment, and competitive costs of doing business. Virginia is widely recognized as one of the best-run states in the country, ranked No. 2 for governance by U.S. News & World Report, and having maintained a AAA bond rating since 1938, longer than any other state. Virginia’s total state and local taxes are lower than the nationwide average, and costs of leasing, construction, and utilities are competitive with other major BPS hubs in the United States.
Booz Allen Hamilton, Fairfax County
With 50 million square feet of office space on the market, Virginia is continuously expanding its portfolio of commercial real estate options. BPS companies have abundant access to new-build Class A office space, economical Class B and Class C office space options, and alternate, cost-competitive options such as flex space and converted retail space.
With a competitive cost of living, a mild, four-season climate, and unrivaled natural and cultural attractions, Virginia offers an exceptional quality of life. Virginia residents enjoy life in vibrant cities and picturesque small towns, within easy driving distance to scenic shorelines and mountain vistas. For these reasons and many others, Forbes ranked Virginia No. 1 in the U.S. for quality of life.
Virginia residents enjoy a cost of living below or in line with the national average in 70% of Virginia cities and counties. Overall, Virginia averages just 3.3% above the nationwide average compared to states like California (+35.9%), Massachusetts (+30.5%), and Maryland (+26.8%).
Lewis Ginter Botanical Gardens, Henrico
Hampton Coliseum
Stone Tower Winery, Loudoun County
