Community Profile
About Danville
Danville is located in south-central Virginia along the North Carolina border, within a day’s drive of two-thirds of the nation’s population. An excellent highway system coupled with easy access to Interstates 40 and 85 make Danville extremely well-suited to reach mid-Atlantic markets and international shipping facilities.
New and expanding businesses in Danville benefit from low operating costs, a business-friendly tax structure, and a turnkey approach to providing essential operating services at highly competitive rates. Danville maintains one of the lowest metropolitan tax structures in the U.S.
Costs
Danville offers a very affordable cost of living for its residents. Presently, the overall cost of living in Danville is 87% of the national average. Danville is a great place to purchase a home with stable Real Estate costs and no housing bubble. Housing is 75% of the national average. Danville has relatively low real estate taxes with the current rate set at $.73 per $100, or $730 per $100,000 of home value.
Virginia’s tax structure and employment costs are very attractive for manufacturers and businesses in comparison to surrounding mid-Atlantic states. Virginia’s state and local sales tax is 5.0%, compared to 7.75% in North Carolina, 6.0% in Maryland, and 6.0% in South Carolina. Further, Virginia’s corporate income tax rate is 6.0% compared to 6.9% in North Carolina and 8.25% in Maryland.
Virginia has one of the lowest average workers’ compensation costs in the country at $2.09 per $100 of payroll (2010), which is the third lowest in the country and 47% lower than the U.S. average. Comparatively speaking, Maryland’s workers’ compensation costs are $3.12 per $100, North Carolina’s are $3.37 per $100, and South Carolina’s are $3.90 per $100. Virginia’s Unemployment Insurance Tax Rate (2010) is .31% while Maryland’s is .86%, North Carolina’s is .64%, and South Carolina’s is .52%.
Businesses
While Danville is renowned throughout the U.S. for its manufacturing heritage and relaxed lifestyle, the region is also one of the top locations in the country for business. From corporate headquarters, regional distribution centers, and product manufacturing to high-tech research, the City of Danville spans a dynamic economic spectrum. Business people from around the world are discovering the vast possibilities of Danville. The community is also a premier business location and home to major corporations, including The Goodyear Tire and Rubber Company, Nestlé USA, Swedwood, Essel Propack, CIT, Telvista, EBI, and many others.
Neighborhoods
Danville’s diverse neighborhoods represent a unique blend of the best of rural and metropolitan lifestyles. Communities of comparable size seldom offer such a wide variety of housing. Homes in the Danville area range from turn-of-the-century Victorian and Edwardian architecture to suburban Williamsburg style homes, country club developments, urban lofts, apartments, and rural farm settings.
Infrastructure
Danville is the only Virginia municipality that owns, operates and supplies all utilities. Electric rates are among the lowest in the state. Gas rates are consistently lower than other local suppliers. Danville offers significant excess water capacities that can accommodate high volume users.
Water – plant capacity is 18 MGD; current usage is about 5.85 MGD; storage capacity is 16.45 MG
Wastewater treatment capacity is 24 MGD; current usage is about 5.5 MGD
The nDanville Fiber Network and the Mid-Atlantic Broadband Cooperate provide state-of -the-art connectivity at any speed or capacity at competitive rates.