Israeli companies create $2.3 billion in revenue in Virginia, report says

Israeli-founded companies generate billions in revenue and thousands of jobs for the US state of Virginia, says a report from the United States-Israel Business Alliance, a group that works to foster economic ties between the US and Israel.

The report is the first to measure the impact of Israeli companies in the state.

There are 119 Israeli-founded companies, or a firm with at least one Israeli-born founder, in Virginia.

In 2024, those companies created 3,767 jobs and $2.3 billion in gross economic output, adding $998 million in value to Virginia’s economy, the report says.

The average earnings for employees across the companies is $77,408.

The companies also indirectly created thousands more jobs, the report said.

“Israeli-founded companies are driving innovation, investment and jobs across the Commonwealth – from defense and life science sectors to agriculture and advanced manufacturing,” Virginia Governor Glenn Youngkin says in a statement.

“We will continue strengthening our economic partnership with Israel to create even more opportunities for Virginians,” Youngkin says.

Israeli companies that open operations in the US tend to focus on New York, the West Coast and Florida, but the report highlights Virginia as a promising alternative due to its location on the East Coast that is closer to Israel in distance and time zone, its high concentration of educated tech workers, universities and low corporate taxes, among other factors.

Northern Virginia also borders Washington, DC, drawing in defense and aerospace companies, a strong suit for Israel, the report says.

Agriculture and life sciences are also fertile ground for Israeli companies in Virginia, the report says.

“We believe that the Virginia-Israel commercial relationship is just getting started,” says Aaron Kaplowitz, the head of the United States-Israel Business Alliance.