Business-Friendly Location

  • Virginia ranks lst in lowest tax burden (i.e. Unemployment Insurance Tax per Employee)

  • Virginia ranks 4th in Net Workers’ Compensation Insurance Costs for Manufacturing (per $100 of payroll)

  • Virginia has a 6% State Corporate Income Tax Rate that has been fixed since 1972

  • Virginia is the northern-most “right-to-work” state on the East Coast

  • Virginia is a Right to Work State. There are no unions in Floyd Co.

  • Vibrant growth in small businesses

  • Low local tax rates ($0.50/$100 Real Estate and $1.55/$100 in Machinery and Tools)

Machinery and Tools Tax

Local Financial Products and Services:

Blue Ridge Bank

  • $236 million in deposits

  • 14 branches in Virginia

 

Bank of Floyd

  • About $159 million in assets

  • 7 branches in Virginia

  • All decisions made locally