Virginia

State Quick Facts

  • Nickname: Old Dominion State
  • Capital: Richmond
  • 2016 Population: 8,411,808
  • Gross State Product: $494 billion
  • Total Nonfarm Employment: 3,910,900
  • Governor: Terry McAuliffe (D)
  • Senators: Tim Kaine (D), Mark Warner (D)
  • Representatives: 11

Support For Local Business

Senator Tim Kaine (D) “We need to pursue policies that support our small and medium-sized businesses and create a fair regulatory and tax environment that allows them to grow. Small businesses create more than 70 percent of all new jobs so when they succeed, our economy succeeds.”

(Senator Tim Kaine, “Close some gaping loopholes that advantage big corporations” http://www.ontheissues.org/2016/Tim_Kaine_Corporations.htm. 7/23/16)

Representative Barbara Comstock (R) “Small businesses are at the heart of a healthy economy and we need to make sure more can grow right here in Virginia’s 10th Congressional District.”

(Representative Barbara Comstock, “Comstock Votes To Help Small Businesses,” https://comstock.house.gov/media-center/press-releases/comstock-votes-help-small-businesses. 2/13/15)


 Business Highlights

Virginia’s 706,626 small businesses represent 99.5% of all employers in the state and employ 1.5 million workers.

Women-owned businesses make up 236,200 of Virginia small businesses.

Veteran-owned businesses make up 76,300 of Virginia small businesses.

A total of 7,704 companies, which operate internationally, competing in global markets on a daily basis for inputs, capital, and customers, export from Virginia.

Virginia exports reached $16.4 billion in 2016, with products and services going to over 212 countries.

Nineteen Fortune 500 companies are headquartered in the Old Dominion State.

Sources: Small Business Administration, U.S. Census Quickfacts, Business Roundtable, International Trade Administration, Fortune 500, Bureau of Labor Statistics, FRED Economic Data