Business Advantages

Fueling Business Success

With a dynamic business mix in a place where people want to live and work, Salem, Virginia, is an ideal destination for businesses and people who are driven to work in a competitive environment. City of Salem Economic Development is here to help facilitate business relocation or expansion and provide livability resources to help attract talent and develop your workforce. 

Salem’s history is rooted in a strong business culture and thrives in a competitive atmosphere. From national sporting events to a mix of industry, this is the perfect East Coast location for companies that want to win.

salem-valleydale

“With the nation’s best education system and policies that give companies room — both literally and figuratively — to grow, Virginia is America’s Top State for Business in 2024.” - CNBC


Location

Location

With Virginia ranked as a top state for business, Salem offers a compelling mix of business advantages, thanks to its location, infrastructure, and business incentives.

  • Location: Positioned at the heart of the Roanoke Valley within a day's drive of 75% of the U.S. population.
  • Logistics: Convenient access to major highways (I-81, I-64, I-77), the Roanoke-Blacksburg Regional Airport, freight and passenger rail services, Port of Virginia facilities, and just 44 miles from the nearest Virginia TradePort.

Strong Business Culture

The City of Salem Economic Development team works with local, regional, and state partners to recruit and retain businesses that the compliment each other and the city as a whole in one of the nation’s top states for business. 

UTILITIES

Reliable utilities with state-of-the-art infrastructure and excess capacity

  • Power: City of Salem Electric Department and American Electric Power (AEP)
  • Water: City of Salem Water and Sewer Department and Western Virginia Water Authority
  • Fiber: Numerous Providers
  • Gas: Roanoke Gas Company

TAXES

The City of Salem and the State of Virginia have highly competitive tax rates with a sales tax rate of 5.3% and a 6% corporate income tax rate.

INCENTIVES

The City of Salem Economic Development Department is ready to help navigate grants and incentives at the Federal, State, and Local levels.

  • State incentives
  • Tourism Zone, Opportunity Zone
  • Workforce 

Contact us to inquire about local incentives


Transportation & Infrastructure

In Salem, Virginia, your business is close to all the transportation and infrastructure your business needs to get goods in and out of the region. With access to interstate highways, airports, and the Port of Virginia, you can move with agility. A robust rail system also runs through the region. 

Transportation
Train