A Welcoming Business Climate for Project Spire

• Virginia has one of the oldest right-to-work laws in the country and is the northernmost right-to-work state along the I-95 Corridor.
• Virginia has had a stable 6% corporate income tax rate, one of the lowest in the nation, since 1972.
• Sound economic policy and prudent financial management has earned Virginia a AAA credit rating since 1938 — longer than any other state.
• Industrial users paid an average rate of 6.24 cents per kilowatt-hour in the winter of 2022, well below the national average of 7.28 cents per kilowatt-hour.
• Virginia has a low risk of natural hazards, such as hurricanes and tornadoes, minimizing the potential of disruption to business operations and the cost of insurance.