Promote:
Invest in Virginia
A short guide for companies expanding into Virginia: the economy at a glance, the rules and steps to set up, and who can help, each with its source.
1. Virginia at a glance
PopulationEstimate
8.88 million
The population was 8,880,107 as of July 1, 2025.
Source: Census Bureau, state population estimates, July 1, 2025 (opens in a new tab) · as of 2025
GDP
US$807.9 billion
GDP was US$807,925.0 million in 2025, in current dollars.
Source: BEA, GDP by state, 2025 (annual update, September 2026) (opens in a new tab) · as of 2025
GDP per person
US$90,981
GDP per person was US$90,981.4 in 2025, in current dollars, computed from the Bureau of Economic Analysis's GDP and the Census Bureau's population estimate.
Source: BEA, GDP by state, 2025 (annual update, September 2026) (opens in a new tab) · as of 2025
Real GDP growth
2.3%
Real GDP growth was 2.3 percent in 2025, the Bureau of Economic Analysis's own published percent change for all industries.
Source: BEA, GDP by state, 2025 (annual update, September 2026) (opens in a new tab) · as of 2025
Currency and inflation: see the United States at a glance
2. Before you set up
The body that handles foreign investment, Virginia’s limits on foreign ownership, the zones and other rules for investors, as the guide found them.
SelectUSA's list of economic developers names a managing director for international business investment at the Virginia Economic Development Partnership as the state's contact.
Source: SelectUSA, state economic development organizations (opens in a new tab) · as of November 4, 2026
A foreign adversary may not acquire an interest in Virginia agricultural land after July 1, 2023, and a void acquisition vests title in the Commonwealth, under section 55.1-508.
Source: Code of Virginia, section 55.1-508 (opens in a new tab) · as of November 4, 2026
The Foreign-Trade Zones Board's 2024 annual report lists 6 foreign-trade zones in Virginia.
Source: Foreign-Trade Zones Board, 2024 annual report (opens in a new tab) · as of 2024
The state agriculture department's report of July 1, 2026 counted 283,490 foreign-held acres, 1.5 percent of privately held agricultural land, at the end of 2024.
Source: VDACS, foreign ownership of agricultural land report, July 2026 (opens in a new tab) · as of 2024
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An alien who is not an enemy may acquire and hold Virginia real estate, though a court may apply a reciprocity check in some cases, under section 55.1-100.
Source: Code of Virginia, section 55.1-100 (opens in a new tab) · as of November 4, 2026
Investment rules across the United States: see Invest in the United States
3. Steps to set up
The main steps, in order, each with the body responsible and its official page.
Setting up in Virginia
- Obtain a certificate of authority before you transact business as a foreign corporation, or form a Virginia entity, with the State Corporation Commission.State Corporation CommissionOfficial page (opens in a new tab)
Source: Code of Virginia, section 13.1-757 (opens in a new tab) · as of November 4, 2026
- Register your business online with Virginia Tax to receive a tax account number for each tax type and a sales tax certificate.Virginia Department of TaxationOfficial page (opens in a new tab)
Source: Virginia Tax, Register a Business page (opens in a new tab) · as of November 4, 2026
- Check whether you are an employer for unemployment insurance, and if so register with the Virginia Employment Commission.Virginia Employment CommissionOfficial page (opens in a new tab)
Source: Code of Virginia, section 60.2-210 (opens in a new tab) · as of November 4, 2026
- Ask your city, county or town whether it requires a local business license and license tax.City, county or town governmentLicense fee up to US$100 in larger localitiesOfficial page (opens in a new tab)
Source: Code of Virginia, section 58.1-3703 (opens in a new tab) · as of November 4, 2026
Show 1 more set-up step
- Check with the Department of Professional and Occupational Regulation whether your trade or profession needs a state license.Department of Professional and Occupational RegulationOfficial page (opens in a new tab)
Source: Virginia General Assembly, 2026-2028 Appropriation Act (opens in a new tab) · as of June 29, 2026
Steps that apply across the United States: see Invest in the United States
4. Organizations that help investors
Start with SCC. Each card links to the organization’s own site.
Each card says what it can help with:Get adviceFind financeMeet requirementsResearch markets
Investment and business setup
- Meet requirements
Business entity filings regulator
SCC
State Corporation Commission
Its Clerk's Office issues the certificate of authority a foreign corporation needs, and the Commission also collects the new data center electricity tax.
Visit SCC (opens in a new tab)Source: Virginia General Assembly, 2026-2028 Appropriation Act (opens in a new tab) · as of June 29, 2026
- Get advice
Small business and financing agency
SBSD
Department of Small Business and Supplier Diversity
Certifies small and minority-owned businesses, runs the Business One-Stop Program and supports the Virginia Small Business Financing Authority's loan insurance.
Visit SBSD (opens in a new tab)Source: Virginia General Assembly, 2026-2028 Appropriation Act (opens in a new tab) · as of June 29, 2026
Show 1 more organization
- Get advice
County economic development authority
Fairfax EDA
Fairfax County Economic Development Authority
Promotes Fairfax County to expanding companies and reports company expansions and events in the county.
Visit Fairfax EDA (opens in a new tab)Source: Fairfax County EDA, home page (opens in a new tab) · as of November 4, 2026
Customs and tax
- Meet requirements
State tax authority
Virginia Tax
Virginia Department of Taxation
Registers new businesses for state tax accounts online and administers the corporation income tax.
Visit Virginia Tax (opens in a new tab)Source: Virginia Tax, Register a Business page (opens in a new tab) · as of November 4, 2026
State unemployment insurance agency
VEC
Virginia Employment Commission
Administers unemployment insurance for employers and is to start the state's new paid family and medical leave program.
Visit VEC (opens in a new tab)Source: Virginia General Assembly, 2026-2028 Appropriation Act (opens in a new tab) · as of June 29, 2026
Show 1 more organization
- Meet requirements
State port authority
VPA
Virginia Port Authority
Runs the Port of Virginia's marine terminals and its economic development grant programs for port-related companies.
Visit VPA (opens in a new tab)Source: Port of Virginia, deepest harbor release, June 18, 2026 (opens in a new tab) · as of June 18, 2026
Chambers and industry associations
- Get advice
State chamber of commerce
Virginia Chamber
Virginia Chamber of Commerce
Advocates for Virginia businesses on state policy and runs industry councils and a Small Business Alliance.
Visit Virginia Chamber (opens in a new tab)Source: Virginia Chamber, home page (opens in a new tab) · as of November 4, 2026
5. Worth knowing
Local economy
The Richmond Fed reports Virginia payroll employment fell by 25,600 jobs, or 0.6 percent, in the year to September 2026, with unemployment at 3.6 percent.
What to do: Test local demand and hiring assumptions against current state data before you size a project.
Source: Richmond Fed, Virginia economic snapshot (opens in a new tab) · as of September 30, 2026
Reserved sectors
Since July 1, 2023, Virginia bars foreign adversaries from acquiring any interest in agricultural land; the state counted 283,490 foreign-held acres at the end of 2024.
What to do: Check section 55.1-508, the federal Commerce Department's foreign adversary list (15 C.F.R. § 7.4) that section 55.1-507 adopts, and your ownership chain before you buy farm or forest land.
Sources: Code of Virginia, Title 55.1, chapter 5.1 (opens in a new tab); VDACS, foreign ownership of agricultural land report, July 2026 (opens in a new tab) · as of July 1, 2023
Data center electricity tax
Data center operators pay US$0.011 per kilowatt-hour from July 1, 2026 to before July 1, 2028, collected monthly by the State Corporation Commission.
What to do: Model the tax into any data center project and read the Commission's guidelines.
Sources: Virginia General Assembly, data center electricity tax item, 2026 (opens in a new tab); Virginia General Assembly, 2026-2028 Appropriation Act (opens in a new tab) · as of July 1, 2026
Paid family and medical leave
Under sections 60.2-801 and 60.2-806, employers start paying paid family and medical leave contributions on April 1, 2028, and benefits start by December 1, 2028.
What to do: Budget payroll costs for the program before you hire in Virginia.
Sources: Code of Virginia, section 60.2-801, 2026 update (opens in a new tab); Code of Virginia, section 60.2-806, 2026 update (opens in a new tab) · as of July 1, 2026
Across the United States: see Worth knowing in Invest in the United States
6. How Promote:Global helps
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Promote:Virginia is an independent guide by Promote:Global, not an official government portal. The organizations named here are independent public and membership bodies, not Promote:Global partners, and every link goes to their own site.
Facts read from public sources, with an editorial cut-off of November 4, 2026. Nothing here is investment, legal, tax or sanctions advice. Check current status with the organization before you rely on it.