With its strategic location, robust transportation network, competitive cost of business and stable workforce, it’s easy to see why advanced manufacturing prospers in Hanover County.
Advantages for Advanced Manufacturing Companies
- Hanover County is within 500 miles of 50 percent of the nation’s population and over half of its manufacturing activity.
- Hanover’s enviable transportation infrastructure includes major interstates, CSX and Norfolk Southern rail and port facilities, commercial and municipal airports, foreign trade zones and overnight delivery hubs.
- There are more than 100 motor freight companies and brokers.
- UPS and Fed Ex district hubs are located in the area.
- The Port of Richmond provides weekly container service to Antwerp and Liverpool and bi-monthly container/temperature-controlled container service to Canada and Iceland. It also provides service to the Mediterranean, Canada, Mexico, South America and the Caribbean.
- The Port of Virginia in Hampton Roads is within 100 miles, with service from more than 75 international shipping lines and more than 5,000 sailings annually.
- CSX and Norfolk Southern provide rail service.
- Foreign Trade Zone 207 at Richmond International Airport allows companies to defer paying customs duties on goods until they leave the zone for domestic consumption.
- Machinery and tools tax rates are regionally competitive.
- Virginia is a right-to-work state. The state and the metro area have low levels of unionization and union election activity.
- Workers’ Compensation and Unemployment Compensation costs are among the lowest in the nation.
- The Richmond region is highly educated, with 79,000 students in the area’s colleges and community colleges.
- Building costs are 12 percent below the national average.