Business-Friendly Location

• Virginia ranks lst in lowest tax burden (i.e. Unemployment Insurance Tax per Employee)

• Virginia ranks 4th in Net Workers’ Compensation Insurance Costs for Manufacturing (per $100 of payroll)

• Virginia has a 6% State Corporate Income Tax Rate that has been fixed since 1972

• Virginia is the northern-most “right-to-work” state on the East Coast

• Virginia is a Right to Work State. There are no unions in Floyd Co.

• Vibrant growth in small businesses

• Low local tax rates ($0.50/$100 Real Estate and $1.55/$100 in Machinery and Tools)

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Machinery and Tools Tax