Best Places to Start a Business in Virginia

Date: December 01, 2015

Virginia may not just be for lovers anymore. Although the state ranked only 30th on the Tax Foundation’s 2016 State Business Tax Climate Index, it’s still attracting some entrepreneurs with its 6 percent corporate income tax rate and business incentives.

With that in mind, NerdWallet studied where exactly small businesses were thriving across the state and recently released a list of the best places to start a business in Virginia. The website analyzed 112 locations statewide with populations of at least 5,000 and calculated the final scores based on data from U.S. Census Bureau.

NerdWallet considered six metrics in the categories of local economic health and business environment: average annual revenue of businesses, percentage of businesses with paid employees, businesses per 100 people, median annual income, median annual housing costs and unemployment rate for residents 16 and older.

Here are the locations that came out on top:

  1. Tysons Corner

  2. Fairfax

  3. Warrenton

  4. Abingdon

  5. Falls Church

  6. Forest

  7. Vienna

  8. Merrifield

  9. Hollins

  10. Ashland

To see the full list of rankings or NerdWallet’s methodology, visit http://www.nerdwallet.com/blog/small-business/best-places-start-business-virginia-2015/.

Related Content: Small Business News | Economy | Virginia

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