Why Henrico?

2024 State of the Year

Virginia recognized by Business Facilities as the 2024 State of the Year for its business-friendly environment, workforce development programs, and strategic location.

Corporate Income Tax

Virginia's 6% Corporate Income Tax rate has remained stable since 1972.

Low M&T Tax Rate

Henrico has a $0.30 per $100 Machinery & Tools Tax rate and the lowest effective M&T tax rate of any urban locality in Central Virginia.

AAA

Henrico is one of only 47 localities in the U.S. with an AAA bond rating from three major national bond rating agencies. 

Real Estate Tax Rate

Henrico's Real Estate Tax rate has not increased since 1978; in fact, it has decreased.

1 in 10 Workers

Nearly one in 10 workers are employed in tech.

Aircraft Tax Rate

Our Aircraft Tax rate was recently lowered by nearly 70%, from $1.60/$100 to $0.50/$100.

Enterprise Zone

Potential incentives that give you the advantage-job training, tax credits, and financing programs.

Tech Workers

Virginia ranks 5th for total tech workers in the nation.

Right to Work

Virginia is a right-to-work state with very low levels of unionization.

Home to 7 Fortune 1000 Headquarters

More than 25,000 businesses and seven Fortune 1000 company headquarters call Henrico their home.