Data & Research
Annual Snapshot 2018
The City of Franklin and Southampton County are Partnering Tradition with Progress
Both the City of Franklin and Southampton County encompass a geographic area of over 600 square miles within the Hampton Roads Region of Southeastern Virginia. Combined, the two communities are home to 26,000 of the 1.6 million people in the Hampton Roads Metropolitan Statistical Area. The City of Franklin and Southampton County offer a business climate with a wide range of existing companies, skilled employees, educational opportunities, low tax rates, excellent transportation corridors and a charming small town feel. A rich economic heritage in manufacturing, forestry and agriculture set Franklin Southampton apart. The City of Franklin and Southampton County are poised with a progressive stance toward economic growth and are ready to embrace new industry. See where The City of Franklin and Southampton County stand when compared to other MSAs by visiting the Virginia Economic Development Partnership Compare MSA Application.
The Commonwealth of Virginia is the Best State for Business
Only a few locations can guarantee the right combination of resources that are crucial to your business’s success. Virginia’s premier location offers excellent domestic and international access. Centrally located on the U.S. East Coast, 40 percent of the U.S. population is within a day’s drive, and our integrated transportation system of highways, railroads, airports and seaports ensures that you can reach every one of your markets efficiently. Close proximity to Washington, D.C. facilitates contact with policy makers and the federal government system. Virginia continues to rank among America’s leading states for business by CNBC and Forbes.com. Business-first values, easy access to markets, stable and competitive operating costs, and a talented workforce all drove Virginia to the top. This unique combination of assets has encouraged businesses to prosper here for more than 400 years. Take a look for yourself and compare Virginia to other states by visiting the Virginia Economic Development Partnership Compare Virginia Application.
- AAA bond rating- Virginia has maintained a AAA rating since 1938, longer than any other state.
- Right-to-work law allows individuals the right to work regardless of membership in a labor union or organization.
- Corporate income tax rate of 6% has not been increased since 1972.
- Headquarters to 35 Fortune 1000 firms.
- Headquarters to over 70 firms with annual revenue over $1 billion.
- More than 17,300 high-tech establishments operate in Virginia.
- More than 700 internationally-owned businesses from 45 countries are located in Virginia.
- Ranks third among the 50 states as a recipient of federal R&D funds.
- Streamlined permitting process.
- Recruitment training programs to help new businesses become operational faster.
- Programs at little or no cost to help businesses increase international sales.