• Industry Overview

    • Corporate Headquarters in Virginia

    With the 5th-highest number of Fortune 500 and the 8th highest Fortune 1000 company headquarters in the U.S. in 2023, Virginia represents a diversified ecosystem of more than 800 corporate headquarters in a broad cross-section of industries including technology, defense, food and beverage, and many others such as finance and hospitality and tourism. 

    America’s Top State for Talent

    CNBC_#1_Education_2024
    Wallethub #1 Best Public Schools in the South ranking graphic
    Business Facilities #3 Top Tech Talent pipeline ranking graphic

    We’ve had a great experience recruiting talent in Virginia. Being headquartered in the Commonwealth has helped us build the team we need to accomplish our business goals and create a world-class culture.

    Chris Nassetta President and CEO

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    1M Professionals in Corporate Headquarters Occupations

    Ranked No. 1 in the U.S. for Education by CNBC, Virginia has one of the best higher education systems in the world. Virginia is home to almost one million professionals in corporate headquarters occupations (e.g., finance, accounting, computer science, data science, HR, and marketing). 

    Virginia also ensures that new headquarters can quickly attract and onboard high-quality employees by offering a world-class, customized talent acquisition and training solution through the Virginia Talent Accelerator Program. As an alternative, Virginia Jobs Investment Program (VJIP) grants are available for companies that prefer to manage their own recruitment and training. Virginia Talent Accelerator Program clients span industries as diverse as manufacturing (The LEGO Group), aerospace (Rocket Lab), pharmaceutical manufacturing (Civica Inc.), and headquarters (CMA CGM Group). 

    No. 1 GRADUATION RATE

    No. 1 postsecondary education graduation rate in the U.S.

    371,857 FULL-TIME STUDENTS

    371,857 full-time student enrollment in Virginia colleges and universities

    40% HAVE A BACHELOR'S DEGREE

    40% of Virginians aged 25 years and older have earned a bachelor’s degree or higher

    Virginia Hits All the Marks for Nestlé USA’s Headquarters

    When Nestlé USA, a subsidiary of Nestlé S.A., began searching for the site of its new U.S. corporate headquarters, the company’s criteria focused on location and talent. In 2017, following an arduous selection process that spanned 20 cities, Nestlé USA announced plans to invest $39.8 million to establish its U.S. headquarters in Arlington County. 

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    Nestlé USA, Arlington

    Virginia: The Prime Location for HQ2

    After a 14-month competitive site selection process during which Amazon received 238 proposals from communities across North America, the tech giant announced plans in 2018 to invest approximately $2.5 billion to establish a major new headquarters (HQ2) in Virginia, creating more than 25,000 high-paying jobs. 

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    Amazon HQ2 Rendering, Arlington County

    Volkswagen Group of America Drives Jobs and Investment in Virginia

    In 2007, Volkswagen Group of America, a wholly owned subsidiary of Volkswagen AG, one of the world’s leading automobile manufacturers and the largest carmaker in Europe, announced the relocation of its U.S. headquarters to Fairfax County, representing a $118 million capital investment and 401 new jobs. 

    Volkswagen Group of America, Fairfax County

    A conversation with Steve Presley

    Chairman and CEO
    Steve Presley
    Capital One Headquarters, Fairfax County

    Capital One Headquarters, Fairfax County

    Flourishing Financial Services Hub

    Virginia has a thriving financial services industry with the presence of global leaders like Capital One, Wells Fargo, Truist, Visa, and Bank of America. The Commonwealth offers a stable business operating environment with lower average costs than competitors. These advantages ensure that financial services companies quickly attract and onboard diverse, skilled talent, graduating from the Commonwealth’s top-rated higher education institutions. 

     

    Robust Global and Local Connectivity

    Corporate travelers have access to world-class, global flight service from Northern Virginia’s airports, as well as frequent direct flights to key markets such as Boston, Chicago, Los Angeles, New York, Philadelphia, Charlotte, Atlanta, and other hubs from airports located throughout the Commonwealth. 

    Virginia’s network of public transit via rail, metro, and bus system offers headquarters talent access to environmentally friendly transportation solutions, ranking No. 1 among Southeastern states for public transit usage. 

    Virginia also provides ubiquitous access to broadband for headquarters in large and small metro areas and boasts the No. 3 fastest internet speed in the country according to WalletHub. 

    16 commercial airports

    16 commercial airports serve Virginia with direct flights to 100+ domestic and 50+ international destinations 

    #1 public transit usage

    #1 among Southeastern states for public transit usage 

    $36.6B transportation projects

    $36.6 billion committed for transportation projects over the next six years

    Drive-time map

    Strategic Mid-Atlantic Location

    Virginia’s location at the center of the East Coast offers headquarters proximity to key economic hubs, including critical customer markets like the federal government, Northeast corridor, and Southeast metro areas. Virginia also offers an easily accessible base of operations for international companies expanding their footprint into North America by placing headquarters locations in the Eastern Time Zone. 

    We have chosen Fairfax County, considered the East Coast center of technology innovation, for its proximity to the nation’s capital, a vibrant business community, access to several international airports and Metro’s Silver Line, and an incredibly diverse and highly educated workforce.

    Michael J. Saylor Executive Chairman & Founder, MicroStrategy
    VER Q1 2021 Cover HQ

    Virginia Economic Review

    In this issue of Virginia Economic Review, we discuss why so many executives choose Virginia for their corporate headquarters. Article highlights include:

    • Innovation Lives at National Landing: An Update on Amazon’s HQ2
    • Home Away From Home: A Look at International Company Headquarters
    • Virginia’s Smaller Metros Prove Fertile Ground for Tech Headquarters
    • From Boots to the Boardroom

    Read the Full Issue

    Virginia has the right stability of governance. It has the right regulatory environment. It has the right tax rate. It has the right labor pool. It has the right diversity of things to do for your team outside of work. That’s what makes Virginia special.

    Ted Hanson Chief Executive Officer

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    America's Top State for Business

    Virginia is frequently recognized for its favorable regulatory climate, and it is consistently rated one of the best-run states in the country. Virginia has earned a triple-A bond rating for more than 80 consecutive years, longer than any other state, and it benefits from low risk of natural hazards in every region. A right-to-work state with only 2.5% union membership (one of the lowest rates in the country), Virginia also offers low and stable business taxes, as well as competitive utility and construction costs. 

    Forbes Best State for Business-Quality of Life
    CNBC_#2_Business_2023
    Businesss Facilities_#2_Business Climate_2023
    Torc Robotics, Montgomery County

    Torc Robotics, Montgomery County

    An Attractive, Stable, and Predictable Operating Environment

    Ranked one of America’s top states for business, Virginia is frequently recognized for its favorable regulatory climate and consistently rated one of the best-run states in the country. The Commonwealth also offers low and stable business taxes, as well as favorable salaries and corporate lease rates, providing headquarters operations with stable, competitive, and predictable costs for the long-term. 

    • Virginia has had a stable 6% corporate income tax rate, one of the lowest in the nation, since 1972.
    • Virginia’s metro areas offer a lower average lease cost for Class A office space than many popular headquarters locations in the United States.
    • Sound economic policy and prudent financial management has earned Virginia a AAA credit rating since 1938 — longer than any other state.
    • From highly urbanized areas to medium metros and rural areas, Virginia’s construction costs fall below the national average by 5% to 15%.

    An Exceptional Quality of Life

    Ranked No. 1 in the U.S. for Quality of Life by Forbes, Virginia offers a diverse range of lifestyle options, a mild four-season climate, and a competitive cost of living. Vibrant urban centers and picturesque small towns are alive with arts and culture and stunning landscapes. Outdoor enthusiasts can take advantage of a wide variety of beautiful outdoor settings, from mountains and hiking trails to beaches and rivers. 

    Virginia enables businesses to provide the affordable, exciting, and diverse environment that young professionals want in order to thrive both on and off the clock.

    The high quality of Virginia’s public and private schools is responsible for a strong talent pipeline for headquarters operations. But it also plays a prominent role in influencing the relocation decisions of young and mid-career professionals, of which an estimated 80% will become parents in the next decade.

    Sandbridge, Virginia Beach

    Sandbridge, Virginia Beach

    Tinker Cliffs, Botetourt CountyTinker Cliffs, Botetourt County

    Tinker Cliffs, Botetourt County

    Smith Mountain Lake, Bedford County

    Smith Mountain Lake, Bedford County

    Appian, Fairfax County

    Appian, Fairfax County

    A Globally Diverse and Inclusive State

    Virginia has one of the most diverse talent pools of corporate professionals in the country, ranking among the top 10 states for the percentage of corporate professionals who are Black or Asian American, and among the top 15 states for the percentage of professionals who are Hispanic. Virginia’s corporate headquarters talent also stands out for its international character, ranking 9th in the country for its share of foreign-born employees. 

    Lewis Ginter Botanical Garden, Henrico County

    Lewis Ginter Botanical Garden, Henrico County

    Virginia Values Diversity

    In 2020, Virginia became the first state in the South to extend workplace anti-discrimination protections to the LGBTQ+ community. The Virginia Values Act (VVA) expands the Virginia Human Rights Act by including the LGBTQ+ community and by increasing the number of employers subject to the law. Before this expansion, the Virginia Human Rights Act was only applicable to small employers, but these new changes extended the law’s protections for non-age-related discrimination to any employer with more than five employees. 

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