Hanover County has prime access to I-95 and I-295, two of the most heavily traveled highway corridors on the East Coast (I-95: 125,000 vehicles/day; I-295: 92,500 vehicles/day).
There is no business and professional occupation license (BPOL) tax.
Real estate tax rates are regionally competitive. In fact, Hanover County has the lowest real estate in the Richmond region ($0.81 per $100 of assessed value).
Building costs are 12 percent below the national average.
Merchant’s capital or inventory tax is based only on inventory in place on January 1 of each year.
Hanover has a strong, stable county government. In fact, Hanover County is the smallest U.S. county (by population) to have a AAA bond rating from all three ratings agencies. There are only 34 “Triple AAA” counties (out of 3,034) in the U.S.
The County’s retail corridor (the Lewistown Economic Development Zone) is rapidly expanding. It is anchored by a business park and a retail center. Bass Pro Shops figures prominently here. New restaurants, hotels and other amenities are in the pipeline, with the draw of such a recognizable attraction nearby.