• 6% Corporate income tax
  • 2.6% Unemployment insurance costs
  • Favorable business legislation
  • Favorable workers comp legislation
  • Affordable and reliable resources
 

Cost

Lower

The Fredericksburg Region has one of the lowest overall tax burdens of any metropolitan area in the nation, partly due to a state corporate income tax that hasn’t increased since 1971, making it one of the country’s lowest at 6%. The Region also offers significant labor cost savings compared to nearby Richmond and Northern Virginia, with unemployment insurance costs in the moderate to low range (2.6% for new employees) and workers compensation costs the second lowest in the nation.

Friendlier

Virginia has a reputation for public policy that encourages and protects business investment. Labor legislation and mandated costs are similarly favorable, allowing businesses in the state to maintain labor costs competitive with locations in Maryland and West Virginia. Virginia does not allow automatic cost of living increases in Competetively Priced Utilitiesworkers' compensation benefits for the totally disabled, as is the case in Maryland, and employers in Virginia are more likely to be successful in contesting workers' compensation and unemployment insurance claims than employers in West Virginia.

Competitive

Competitively priced power and other utilities are another important source of cost savings for businesses locating in the Fredericksburg Region. InsteelReliable electric power is readily available in the Region from two well established and experienced companies: Virginia Power and Old Dominion Electric Cooperative. Natural gas is available from another company with a long history in the State: Columbia Gas of Virginia. Telecommunication services, including WATS lines, fiberoptics, teleprinter services, and a wide variety of other business and industry resources, are available from Verizon. Contact persons for all these companies are listed below.

  • Dominion Virginia Power
  • Mr. Kent Hill
  • Economic Development Director
  • 701 East Cary Street
    Richmond, Virginia 23261-6666
    Phone: 1.804.771.3424
    Fax: 1.804.771.3782
  • http://www.dom.com
  • Old Dominion Electric Cooperative
  • Mr. C. David Hudgins
  • Director, Economic Development
  • Innsbrook Corporate Center
    4201 Dominion Boulevard
    Richmond, Virginia 23060
    Phone: 1.800.656.0220 / 1.804.968.4068
    Fax: 1.804.968.4010
  • http://www.odec.com/
  • Columbia Gas of Virginia
  • 2980 Fairview Park Drive
    Falls Church, Virginia 22042
    Phone: 1.703.204.7466
    Fax: 1.703.204.5447
  • http://www.columbiagasva.com/
  • Verizon
  • Jeffrey Merriman
  • Manger-Economic Development
  • 600 E. Main Street, Suite 1100
    Richmond, Virginia 23219
    Phone: 1.804.772.1913
    Fax: 1.804.772.3686
  • http://www.verizon.com/
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Site and Building Search

Get the Fredericksburg Regional Economic Profile and learn about what has fueled the phenomenal growth in the region.

With so many resources and so many additional values in the region it is impossible to get them into one map. Go to the maps page to match what the area has to offer to locations.

The Free Lance-Star Publishing Co. that includes The Free Lance-Star daily newspaper; three radio stations — WFLS-93.3, WYSK-99.3 and WWUZ-96.9; fredericksburg.com; and the Star Directory phone book.

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