America’s Mid-Atlantic Hub for Business Services

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ADP, Norfolk CoStar Group, Richmond

Navy Federal Credit Union, Frederick County

Accenture, Arlington

America’s Mid-Atlantic Hub for Business Services

ADP, Norfolk CoStar Group, Richmond


America’s Mid-Atlantic Hub for Business Services Top business process services (BPS) companies choose Virginia for its top talent, nationally recognized business climate, strategic location, and world-class infrastructure. BPS is a well-established, expanding sector; over the past decade, more than 25,000 jobs and $500 million in investment were announced in conjunction with nearly 200 BPS projects in Virginia, spanning sectors such as consulting, back-office services, and customer service. Recent announcements include Concentrix in Lynchburg, PRA Group in Norfolk, SimpliSafe in Henrico County, Grant Thornton in Arlington County, and The Data Entry Company (TDEC) in Russell County.


Why Virginia?

1 America’s Top State for Talent

3 An Attractive, Stable, and Predictable Operating Environment

5 Thriving and Diverse BPS Ecosystem

7 Strategic Mid-Atlantic Location

9 Seamless Global and Local Connectivity

11 An Exceptional Quality of Life


America’s Top State for Talent Ranked No. 2 in the U.S. for Education and No. 3 for Workforce by CNBC, Virginia is home to almost 260,000 people employed by BPS companies and nearly a half million people working in key occupations relevant to the industry, both in the BPS industry and beyond. Virginia’s excellent education systems ensure a steady flow of new talent every year, with 60% of undergraduates staying in Virginia upon degree completion. The state’s higher education system is ranked No. 1 in the U.S. (SmartAsset, 2021), and K-12 schools are ranked No. 1 in the South and No. 4 in the U.S. (WalletHub, 2021). Employers often draw talent from among thousands of service members who exit the armed services in Virginia every year. Virginia’s Talent Accelerator Program – a world-class, customized talent acquisition and training solution – is available to new and expanding BPS companies to ensure they can quickly attract and onboard high-quality employees. The program is offered at no cost to qualified companies as an incentive for job creation, and grants are available for companies that prefer to manage their own recruitment and training.

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GEICO, Stafford County

GEICO Finds Top Talent in Virginia GEICO, the second-largest auto insurer in the U.S., established a regional office in the Fredericksburg region in 1994 with 700 employees and has continued to reinvest in its 44-acre campus over the years. In 2008, the company invested $28 million to establish a 16,760-square-foot data center, accommodating its expanding Internet business. In 2016, GEICO announced an additional $1.1 million expansion, adding 798 new call center and IT jobs. GEICO selected Stafford County to accommodate its growth due to the

business climate and strong track record of existing talent. GEICO is the largest private sector employer in Stafford County, with more than 4,000 employees. GEICO is committed to serving its local communities. Over the past 25 years, GEICO’s Fredericksburg regional office and its associates donated more than $14 million to local charitable projects, including an accessible playground, buses and vans for summer camps, golf carts for law enforcement safe driving programs, and child safety seat inspections.

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Accenture, Arlington County

1901 Group, Montgomery County

Booz Allen Hamilton, Fairfax County


An Attractive, Stable, and Predictable Operating Environment In 2021, CNBC again identified Virginia as America’s Top State for Business for its business-friendly regulations, stable tax environment, and competitive costs of doing business. Virginia is widely recognized as one of the best-run states in the country, ranked No. 2 for governance by U.S. News & World Report, and having maintained a AAA bond rating since 1938, longer than any other state. Virginia’s total state and local taxes are lower than the nationwide average, and costs of leasing, construction, and utilities are competitive with other major BPS hubs in the United States.

Robust Real Estate Portfolio With 50 million square feet of office space on the market, Virginia is continuously expanding its portfolio of commercial real estate options. BPS companies have abundant access to new-build Class A office space, economical Class B and Class C office space options, and alternate, cost-competitive options such as flex space and converted retail space.

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Thriving and Diverse BPS Ecosystem Illustrative Examples Virginia’s vibrant business ecosystem supports a fast-growing BPS industry of over 2,700 companies in a range of BPS segments – including back-office and business support services, call centers, and consulting. Industry leaders in Virginia include ADP, Navy Federal Credit Union, GEICO, T-Mobile, and EY. The BPS industry varies widely across regions of Virginia: Northern Virginia, for example, is known for major IT and consulting companies and federal contractors, while the scenic Southwest Virginia region is a cost-competitive location for back-office and call center operations.

Northern Shenandoah Valley Central Virginia Shenandoah Valley

220

Lynchburg Region 64 B ec k l ey 220

Roanoke Region

West Virginia 460

B l a c k s b u rg

New River Valley

460

Kentucky

19

Wise

W y t h ev i l l e 221

81

58

220

77

B r i s to l

58

Tennessee

R o a n o ke

77

19

23

81

M ar t i n s v i l l e

Johnson City

Kn ox v i l l e

Southwest Virginia

G re en s b o ro

Southern Virginia

L ex


Maryland

Northern Virginia

B al t i m o re

W i n c h es t e r 7 L ee s b u rg

West Virginia

Greater Fredericksburg

Wa s h i n g to n , D. C .

66 Alexandria

211

81

33

Culpeper

17 Fre d e r i c k s b u rg

H ar r i s o n b u rg

250

301

95

S t a u n to n Charlottesville

17

Greater Richmond

360

29

15

ex i n gto n

33

64

13 17

Richmond

60

288

Far m v i l l e

Ly n c h b u rg

360

W i l l i am s b u rg

460

Pet er s b u rg

64

460 501

Northern Neck

95 85

360

460

29 S o u t h B o s to n D an v i l l e

Emporia

58

Norfolk V i rg i n i a B ea c h

S o u t h Hi l l 501

North Carolina

South Central Virginia R a l ei g h

Hampton Roads


Strategic Location that Strategic Mid-Atlantic Location Enables Global Connectivity Virginia’s strategic location on the East Coast offers important advantages for BPS companies through proximity to key economic hubs, including critical customer markets in the Mid-Atlantic, the Northeast Corridor, and fast-growing metropolitan areas across the Southeast. Virginia’s proximity to Washington, D.C. is a major advantage for BPS companies with federal contracts. By virtue of its position in the Eastern Time Zone, Virginia offers an easily accessible base of operations for companies expanding into the North American and European markets.

We chose to locate a new facility in Norfolk because of the thriving business climate in the city and Commonwealth. We have the opportunity to attract a diverse workforce that will make significant contributions to ADP and add value to the client experience. We look forward to building long-lasting relationships with the people of Norfolk and Virginia. DEBBIE DYSON President, National Account Services, ADP

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ADP Accesses Talent in Virginia With a number of business units operating throughout the Northeast United States, ADP, a leading global technology company providing human capital management solutions, saw the opportunity to centralize certain operations in one location to improve efficiency, increase cohesion, and maximize resources. The company was seeking an urban space that could accommodate its needs and attract a strong pipeline of talent to continue to grow as a company. The city of Norfolk offers a walkable downtown, public transportation, affordable housing, and entertainment options that have attracted millennials in full force. Today, residents between the ages of 20 and 34 make up the largest age group in the city. Long known as home to the world’s largest naval station, Norfolk absorbs exiting military personnel into its workforce annually. Seven colleges and universities and four community colleges are within an hour’s drive of downtown, offering close proximity to new graduates who want to remain in the Hampton Roads region. In 2016, ADP announced plans to invest $32.25 million to establish a regional customer service center in Norfolk, creating more than 1,800 new jobs. An excellent business climate, access to a robust, skilled workforce, and the amenities to attract and retain talent set Virginia apart from the competition, and ADP continues to thrive.

ADP, Norfolk

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Seamless Global and Local Connectivity

Corporate travelers have access to world-class international flight service from Northern Virginia’s airports, as well as frequent direct flights from airports across Virginia to all key markets. Virginia, which ranks No. 1 among Southeastern states for public transit, offers BPS employees access to environmentally friendly transportation via rail, metro, and bus systems. The state’s long-term infrastructure investments in fiber optic connectivity have created a top environment for BPS companies to flourish, with the third-fastest average internet speed in the U.S. A recent investment of $700 million will expand broadband coverage to all of Virginia by 2024.

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16

commercial airports serving Virginia with direct flights to 100+ domestic and 50+ international destinations

47%

of the U.S. population located in the Eastern Time Zone

$27 billion

committed for transportation projects over the next six years

#1

among Southeastern states for public transit usage via rail and bus systems

#3

fastest internet speed in the country according to WalletHub


Virginia Offers SimpliSafe Solutions SimpliSafe, founded in 2006 by Harvard Business School students, is a market leader in the self-installed, remotely monitored home security system industry. Based in Boston, SimpliSafe has experienced rapid growth in the past decade as millions of consumers adopted its products. The company needed a second national customer support operation and was seeking a location that would provide the workforce it needed with an attractive quality of life to successfully recruit employees. After a nationwide search, SimpliSafe selected a location at Willow Lawn in Henrico County in 2020, representing a $5.5 million investment and 572 new jobs. Virginia successfully competed for the project in large part due to excellent access to interstates and public transportation and the skilled talent available in the surrounding region. The company’s impression of Virginia was so positive that just over one year later, SimpliSafe announced plans to expand in Henrico County with a second location, investing $2.46 million and creating over 250 new jobs.

Washington Dulles International Airport

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An Exceptional Quality of Life

With a competitive cost of living, a mild, four-season climate, and unrivaled natural and cultural attractions, Virginia offers an exceptional quality of life. Virginia residents enjoy life in vibrant cities and picturesque small towns, within easy driving distance to scenic shorelines and mountain vistas. For these reasons and many others, Forbes ranked Virginia No. 1 in the U.S. for quality of life.

Tinker Cliffs, Botetourt County

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The Omni Homestead Resort, Bath County

Virginia Creeper Trail, Washington County


Smith Mountain Lake, Bedford County

Carpenter Theatre, Richmond

Sandbridge, Virginia Beach

Arlington County

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Main Street Station is one of two Amtrak stations in the Richmond area. Amtrak operates 25 trains throughout the Commonwealth, connecting more than 1.5 million passengers a year from all over Virginia to destinations across the country.

Expertise • Collaboration • Innovation • Solutions The Virginia Economic Development Partnership’s (VEDP) team of dedicated and knowledgeable professionals is committed to Virginia’s economic success, and connects industry-leading businesses to the resources they need to make relocation and expansion successful endeavors. From site selection, customized research, cost analysis, and coordination with public and private partners, to discretionary incentives and workforce solutions, VEDP’s services are tailored to companies’ unique requirements. To learn more about VEDP’s expertise and resources, visit VEDP.org.

© January 2022