Background Economy of Virginia

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tourism important sector in virginia beach s economy


the state gdp of virginia $383 billion in 2007, higher larger state of michigan , comparable saudi arabia. per capita personal income $35,477 in 2004. of 2000, virginia had highest number of counties , independent cities, fifteen, in top one-hundred wealthiest jurisdictions in united states based upon median income. in addition, virginia tied colorado having counties, ten, in top one-hundred based on per capita income.


in 2006 , 2007, forbes magazine voted virginia having best climate business in united states citing economic growth, business costs/incentives , quality of life. cnbc ranked virginia top state business in 2007 well.


richmond 1 of 12 cities in country having federal reserve bank. it, along new york , san francisco federal reserve banks ones cover non-state (washington, d.c.).


there 7 fortune 500 companies headquartered in northern virginia, , 9 in richmond area (most of within city itself.) 5 metro areas in country have more fortune 500 companies richmond area. virginia has seventeen total fortune 500 companies, ranking state tenth nationwide. additionally, ten fortune 1000 companies in northern virginia, total of twenty-nine in state. 1% of hispanic american population, state claims 3.6% of hispanic 500 companies.


virginia, arguably wealthiest southern state before civil war, recovered civil war , great depression faster rest of south. today, virginia still 1 of wealthiest states in south. virginia 1 of twenty-two right-to-work states.



miners @ virginia-pocahontas coal company mine in 1974


virginia comparable alaska , ahead of north dakota , new mexico in per capita defense spending.










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