Israeli-Founded Companies Generate $2.3 Billion in Economic Output for Virginia, Create 7,847 Local Jobs
Israeli-founded companies are making significant contributions to the Virginia economy, according to an independent study released by the United States – Israel Business Alliance recently.
The analysis, based on 2024 data, also pinpoints sectors with vast potential for growth: agriculture, life sciences and defense.
The 2025 Virginia – Israel Economic Impact Report identifies 119 Israeli-founded companies in Virginia that, in aggregate, created 7,847 total jobs and generated $2.3 billion in gross economic output in 2024. These firms contributed $988 million in value added to the state economy and $572 million in total compensation.
“This report underscores what we see on the ground: Virginia is a place where visionary entrepreneurs choose to build, hire and grow,” said Governor Glenn Youngkin. “Israeli-founded companies are driving innovation, investment and jobs across the Commonwealth – from defense and life science sectors to agriculture and advanced manufacturing. We will continue strengthening our economic partnership with Israel to create even more opportunities for Virginians.”
The report breaks down the economic analysis by county and congressional district. Israeli-founded companies created 2,351 jobs in Chesterfield County and 1,427 jobs in Fairfax County, where 38 of the top 100 defense companies in the world operate.
“Virginia offers unique assets to Israeli entrepreneurs looking to grow in the United States,” said Aaron Kaplowitz, president of USIBA. “The Commonwealth’s investments in innovation and infrastructure enhancements have helped attract some of the largest global companies in recent years and laid the foundation for tremendous growth with Israeli-founded firms.”
Future Growth
In addition to quantifying economic impact, the study identifies Priority Growth Sectors – industries well-positioned for future growth between Israeli-founded companies and Virginia. The sectors are agriculture, life sciences and defense.
“There are strong synergies between Israel and the Commonwealth in each of these key growth sectors,” said Dov Hoch, executive director of the Virginia Israel Advisory Board, “Life sciences, agriculture, deep tech and especially defense have tremendous potential to attract hundreds of millions dollars in investment in Virginia that bring thousands more jobs and innovation to our communities.”
In November, Gov. Youngkin announced that Israeli-founded Elbit America would be investing an additional $30 million and creating 288 new jobs at its night vision systems manufacturing facility in Roanoke County. With this expansion, Elbit America will employ more than 1,000 local workers.
“Virginia’s highly educated tech workforce, proximity to ports and interstates, and strategic commitment to innovation offer a compelling combination of resources to Israeli founders,” said Kaplowitz. “And based on our analysis, we believe that the Virginia-Israel commercial relationship is just getting started.”
The executive summary is available at www.usisrael.co.
About the United States – Israel Business Alliance
The mission of the United States – Israel Business Alliance is to create economic opportunities between states and Israel. USIBA specializes in organizing economic development missions to Israel for governors, higher education officials, and business leaders. USIBA also connects Israeli technology solutions to local challenges.