Old Dominion News

Employers classified under the Finance and Insurance industry based in Virginia submitted 1,043 H-1B petitions during 2024, according to data provided by the U.S. Citizenship and Immigration Services via the H-1B Employer Data Hub.

Of these, 1,038 were approved (99.5%), while five were denied (0.5%).

Employers are classified under industries based on their reported operations and may be involved in multiple industries.

The H-1B visa program allows U.S. employers to temporarily hire foreign workers in specialty occupations requiring specialized knowledge and at least a bachelor’s degree or equivalent. It is designed to address skill gaps in the U.S. workforce while ensuring wage standards to protect both U.S. and H-1B workers. Employers must certify that they will pay H-1B workers wages equal to or greater than those of similarly qualified U.S. employees or the prevailing local wage.

The average approval rate for H-1B petitions across the United States in 2024 stood at 98%, higher than 2023's 97.3%. Statewide, Virginia employers across all industries submitted 25,463 petitions during the same period, achieving an approval rate of 97.9%.

The Retail Trade industry led the H-1B filings in Virginia during 2024, with 11,590 petitions (45.5% of all submissions), and an approval rate of 98.2%. Meanwhile, the Professional, Scientific, and Technical Services industry was the second largest contributor, filing 7,435 petitions (29.2% of the total), with an approval rate of 96.8%.

The Virginia employers which made the most petitions in the Finance and Insurance sector during 2024 included Capital One Services, LLC with 501 petitions, Capital One National Association with 249 petitions, and Navy Federal Credit Union with 94 petitions.

Compared to 2023, the Finance and Insurance sector in Virginia saw a 4.6% increase in the number of H-1B petitions during 2024.

The United States admits around 1 million legal immigrants annually, most of whom receive permanent residence (green cards) through family sponsorship or employment-based visas. In 2023, about 1.2 million immigrants were granted green cards, a return to pre-pandemic levels. Temporary visa programs, such as the H-1B for highly skilled workers and H-2A for seasonal agricultural workers, also play a critical role in filling workforce needs.

Public opinion on immigration varies, with 46% of Americans favoring maintaining current legal immigration levels, according to a 2024 Pew Research Center survey. Additionally, 42% believe that highly skilled workers, such as scientists, doctors, and programmers, should be prioritized for legal immigration, compared to 25% who prioritize workers filling labor shortages and 19% who emphasize family sponsorship. Despite this, family sponsorship remains the most common path to permanent residency, accounting for 63% of green cards issued in 2023.

The data in this article comes from the H-1B Employer Data Hub provided by the U.S. Citizenship and Immigration Services (USCIS). While USCIS strives for accuracy, manual data entry and errors on paper forms submitted by applicants or petitioners may result in discrepancies in employer names, tax IDs, locations, or other details.

Rank	Industry	Total Petitions	% of All Submissions	% Approved	% Denied
1	Retail Trade	11,590	45.5%	98.2%	1.9%
2	Professional, Scientific, and Technical Services	7,435	29.2%	96.8%	3.2%
3	Information	3,519	13.8%	98.6%	1.5%
4	Finance and Insurance	1,043	4.1%	99.5%	0.5%
5	Educational Services	801	3.2%	98.4%	1.6%
6	Health Care and Social Assistance	240	0.9%	97.1%	2.9%
7	Administrative and Support and Waste Management and Remediation Services	229	0.9%	99.1%	0.9%
8	Manufacturing	202	0.8%	97.5%	2.5%
9	Utilities	69	0.3%	100%	0%
10	Other Services (except Public Administration)	68	0.3%	95.6%	4.4%
11	Accommodation and Food Services	54	0.2%	98.2%	1.9%
12	Construction	49	0.2%	91.8%	8.2%
13	Wholesale Trade	42	0.2%	100%	0%
14	Transportation and Warehousing	35	0.1%	100%	0%
15	Public Administration	30	0.1%	100%	0%
16	Real Estate and Rental and Leasing	18	0.1%	100%	0%
17	Mining, Quarrying, and Oil and Gas Extraction	16	0.1%	100%	0%
18	Management of Companies and Enterprises	8	0%	100%	0%
18	Agriculture, Forestry, Fishing and Hunting	8	0%	87.5%	12.5%
20	Arts, Entertainment, and Recreation	7	0%	100%	0%

Rank	Company Name	Total Petitions	% Approved	% Denied
1	Capital One Services, LLC	501	99.4%	0.6%
2	Capital One National Association	249	100%	0%
3	Navy Federal Credit Union	94	100%	0%
4	Federal Home Loan Mortgage Corpora	73	97.3%	2.7%
5	Pentagon Federal Credit Union	17	100%	0%
6	Genworth North America Corporation	16	100%	0%
7	Nodal Exchange, LLC	15	100%	0%
8	PRA Group, Inc.	12	100%	0%
9	Federal Home Loan Mortgage Corporation	9	100%	0%
10	VW Credit, Inc.	6	100%	0%
11	Elephant Insurance Services, LLC	4	100%	0%
11	2nd Order Solutions, Inc.	4	100%	0%
13	Sands Capital Management, LLC	3	100%	0%
13	Navient Solutions, LLC	3	100%	0%
13	Mission Lane, LLC	3	100%	0%
16	Mccann Yan Holdings, Inc.	2	100%	0%
16	Kimc U S, Inc.	2	100%	0%
16	James River Management Company, Inc.	2	100%	0%
16	Dominion Dental USA, Inc.	2	100%	0%
16	Powerup Technology, Inc.	2	100%	0%
16	Camino Financial, Inc.	2	100%	0%
22	Chartway Federal Credit Union	1	100%	0%
22	Petal Card, Inc.	1	100%	0%
22	Federal Reserve Bank of Richmond	1	100%	0%
22	B&H Financial Services, Inc.	1	100%	0%
22	Southern Trust Mortgage, LLC	1	100%	0%
22	Madison Energy Holdings, LLC	1	100%	0%
22	Chartway Federal Credit Union D B	1	100%	0%
22	West Creek Financial, Inc.	1	100%	0%
22	Azzad Asset Management, Inc.	1	100%	0%
22	Carter Bank and Trust	1	100%	0%
22	Andrew Elliott	1	100%	0%
22	Proof Management, LLC	1	100%	0%
22	Jocassee Quantative, LLC	1	100%	0%
22	The Legacy Foundation, LLC	1	100%	0%
22	57 Stars, LLC	1	100%	0%
22	The Edgar Lomax Company	1	100%	0%
22	Investure, LLC	1	100%	0%
22	Strategic Alpha, Inc.	1	100%	0%
22	Columbia Capital LP	1	100%	0%
22	Pinglend, Inc.	1	100%	0%
22	Buckingham Mortgage, LLC	1	100%	0%
22	Spider Management Company, LLC	1	100%	0%