Virginia, home to eight presidents -- including George Washington and Thomas Jefferson -- boasts a population of 7.6 million according to the 2006 Census data. The state has 13 electoral votes.

The state has a large manufacturing presence including transportation equipment, food processing, electronics, textiles and chemicals to name a few. About one-third of all of Virginia’s jobs come from the service sector, primarily in computer and data processing services. Agriculture and dairy are also important industries for Virginia, which is one of the top ten producers of coal.

Virginia’s unemployment rate is 4.3%, lower than the U.S. rate of 6.1%. 

Virginia has traditionally been a Republican stronghold. The state supported one Democratic president, Lyndon B. Johnson, in the past 50 years. Democratic support has grown in heavily populated northern Virginia.  The state’s Governor, Democrat Tim Kaine, has campaigned heavily for Barack Obama. Republican president George W. Bush won Virginia by nine percentage points in the 2004 presidential race. Virginia is a crucial swing state that can tip the election. 

For the first time this election season, Virginia registered more than five million voters. The State Board of Elections said nearly 40% of the newly registered voters are under 25 with more females than males registered in every age category.  Those new voters have added a level of uncertainty into the election which makes it a battleground state

SOME OF THE FORTUNE 500 COMPANIES IN VIRGINIA:

Freddie Mac, Sprint Nextel, General Dynamics,  Dominion Resources, Capital One,  Circuit City Stores, Smithfield Foods, Genworth Financial, Sallie Mae, Gannett, Dollar Tree Stores, Brinks, Advanced Auto Parts, CarMax

Freddie Mac is the top employer with Sprint in second place. General Dynamics is the third largest employer in the state.

ISSUES FACING VIRGINIA

Like most states, the economy is the no.1 issue on voter’s minds. For the northern part of Virginia, home foreclosures and the impact government spending will have on subcontractors are the top concerns.

For the suburban counties of Northern Virginia home foreclosures matter most, said Toni-Michelle Travis, a professor of government and politics at George Mason University. Voters are looking for the candidates to “clean up the mess, help them stay in their homes and to prevent any of this in the future,” said Travis.  

In Prince William, Va., 4.3% of all mortgages are in foreclosure according to HUD, which is higher than the statewide rate of 3.1%. Foreclosures statewide this year are up 229.6% compared to last year, according to RealtyTrac. Nationally Virginia accounted for the 10^th highest rate in its number of foreclosures.

In the case of government spending, voters in the suburbs of Washington D.C. are worried about spending cuts an incoming president may engage in. “A number of people in Northern Virginia are subcontractors of the government,” said Travis. “If contracts begin to dry up then their jobs are in danger.”

WHERE THEY STAND

FORECLOSURES

MCCAIN: In the second presidential debate McCain unveiled a new $300 billion plan to buy up bad mortgages loans from banks and homeowners. The loans would be converted into low interest loans insured by the Federal Housing Authority.  The money from the $700 billion economic rescue would be used to fund the plan.

--Under his HOME Plan, every deserving American family or homeowner will be afforded the opportunity to trade a burdensome mortgage for a manageable loan that reflects their home's market value.

--Estimates his HOME Plan Will Keep 200,000 to 400,000 families from losing their homes

--Would bolster groups like Neighborworks America that provide mortgage assistance to homeowners in their communities

--Supports government aid to keep Fannie Mae and Freddie Mac from collapsing

OBAMA: Proposes the creation of a $10 billion fund to prevent foreclosures, eliminate some taxes and fees for families that have to sell their homes and offer counseling to homeowners.

--Let troubled homeowners refinance their loans by the FHA

--Create a Homeowner Obligation Made Explicit (HOME) score, which will provide potential borrowers with a simplified, standardized borrower metric (similar to APR) for home mortgages. The HOME score will allow individuals to easily compare various mortgage products and understand the full cost of the loan

--Eliminate the provision that prevents bankruptcy courts from modifying an individual's mortgage payments 

--Provide tax credits to 10 million middle class homeowners who are struggling with their home mortgage costs

--Supports Fannie Mae and Freddie Mac.

JOBS

MCCAIN: Has a goal of building 45 new nuclear power plants by 2030 which he estimates will create 700,000 jobs and provide cheap electricity.

--Calls for the U.S. to engage in multilateral, regional and bilateral efforts to curb barriers to trade, level the global playing field and build effective enforcement of global trading rules. 

--Calls for an overhaul of unemployment insurance to make it a program for retraining, relocating and assisting workers who have lost jobs

--Wants a National Commission on Workplace Flexibility and Choice

--Would modernize the nation’s labor laws so that they allow for more flexible scheduling arrangements

--Promote telework so that workers can spend less time commuting

--Make health more portable so that workers don’t lose their benefits when they switch jobs

--Provide workers with more choice in job training assistance

OBAMA:  In favor of a $50 billion emergency economic stimulus plan with the money going toward 1 million jobs for rebuilding infrastructure and schools

--Wants to create a $25 billion “Jobs & Growth Fund” to invest in infrastructure and to save jobs

--Calls for existing businesses to receive a $3,000 refundable tax credit for each additional full-time employees hired during 2009 and 2010. Wants to raise the small business investment expensing limit to $250,000 though the end of 2009 and eliminate all capital gains taxes on investments made in small businesses.

--Wants Congress to extend unemployment insurance for an additional 13 weeks

--Work with Canadian and Mexican leaders to make NAFTA work for American workers

--Update the existing system of Trade Adjustment Assistance by extending it to service industries, creating flexible education accounts to help workers retrain, and providing retraining assistance for workers in sectors of the economy vulnerable to dislocation before they lose their jobs

--End tax breaks for companies that send jobs overseas and reward companies that support American workers

--Create an Advanced Manufacturing Fund to identify and invest in advanced manufacturing strategies

--Invest in clean energy and create five million new green jobs

RACES TO WATCH

U.S. Senate: John Warner, the five term Republican Senator is retiring. Former Democratic Governor Mark Warner is taking on former Republican Governor Jim Gilmore. Both candidates have aligned themselves with their part presidential candidates.

House, 2nd District: In this District, which covers Virginia Beach, Republican Representative Thelma Drake is up against Democrat Glenn Nye in a tight race. Drake wants a third term but narrowly won the last race in 2006.