PRO-BUSINESS

From our low property tax rates to our AAA bond rating, Henrico County’s exceptional credit provides stability and reassurance now and for the future. As one of the best-run localities in the nation, Henrico is a great place to do business for many reasons.

Reason #1:
We’re AAA bond rated.

Henrico County is one of only 36 localities in the U.S. with an AAA bond rating from three major national bond rating agencies. Virginia has maintained an AAA bond rating since 1938, longer than any other state.


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Reason #2:
We have a large inventory of available buildings and sites.

Search up-to-date building and site inventory with our geographic information system (GIS) tool. Run instant reports and find locations that match your specific needs.


Reason #3:
We offer competitive tax rates.

  • Henrico County has a $0.30 per $100 machinery and tools tax rate and lowest effective M&T tax rate of any urban locality in Central Virginia.
  • $0.40 per $100 Data Center tax rate with a rapid depreciation schedule.
  • Our Aircraft Tax rate was recently lowered by nearly 70%, from $1.60/$100 to $0.50/$100.
  • Henrico's Real Estate Tax rate has not increased since 1978; in fact, it has decreased.
  • Virginia’s 6% Corporate Income Tax rate has remained stable since 1972.

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Reason #4:
We’re located in Virginia, a best-for-business state on the East Coast.

  • A right-to-work state with very low levels of unionization .
  • Deep labor pull from the northeast with low operating costs.
  • Virginia has the 2nd highest concentration of tech workers in the nation, with nearly 1 in 10 workers in tech

Reason #5:
We’ve got incentives.

On the local and state levels, we offer potential incentives that give you the advantage – from job training incentives and tax credits to Enterprise Zone and financing programs.