Business + Shared Services


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Hampton Roads Alliance
Hampton Roads Alliance3 days ago
As the demand for nuclear-powered submarines increases, Newport News Shipbuilding said it’s working to hire 3,000 skilled trades workers this year and a total of 19,000 within the decade. Last year, the Hampton Roads Workforce Council reported that the region’s maritime shipbuilding vacancies could increase to 40,000 by 2030 if measures to build capacity weren’t taken, while U.S. Navy Secretary Carlos Del Toro said in December that the U.S. shipbuilding industry will need 150,000 new qualified workers in the next 10 years. As a result, NNS is working with the Navy’s submarine industrial base office and the Hampton Roads Workforce Council to reach potential new employes.
Hampton Roads Alliance
Hampton Roads Alliance4 days ago
According to Southern Living magazine, Colonial Williamsburg is one of 23 treasure troves of “authentic locales in the South that each offer an experience you can only have there.” In a special edition of this month’s magazine, an online survey among the magazine’s readers rates their favorite places across the South for its 2024 awards. More than 20,000 people responded and ranked City of Williamsburg, Virginia - Municipal Government as second in the South’s top 20 small towns!
Hampton Roads Alliance
Hampton Roads Alliance5 days ago
Governor Glenn Youngkin today announced that FreezPak Logistics, LLC, a leading provider of full-service cold and dry storage services, is investing $77.5 million to construct a 245,000-square-foot cold storage facility in the City of Suffolk, VA - Municipal Government to serve the Mid-Atlantic region, via The Port of Virginia. The project will create 80 new jobs for the region! The Alliance was proud to work alongside Suffolk VA Economic Development Department #YesSuffolk and the @viVirginia Economic Development Partnership on this announcement. Read more: https://ow.ly/Ese750QTmLR

Taking Care of Business in Hampton Roads

Home to over 130,000 employees working in the business and shared services sector, Hampton Roads is an ideal expansion location for businesses seeking to capitalize on an available pool of talent. Pairing this skilled and diverse workforce with competitively priced operating costs creates a business environment attractive to well-known companies including the New York Times Shared Services, ADP, Canon Information Technology, GEICO Direct and Xerox HR Solutions.

Fueling growth in the shared services sector is a strong labor pool replenished by the 100,000+ students enrolled in our 12 colleges & universities and 21 trade and technical schools. Each year, over 5,000 students graduate from one of the 70 business services related certification and degree programs offered at schools throughout the region.

An additional source of talent is the 40,000+ military spouses who reside in the region and our enviable quality of life is a magnet for millenials from across the nation.

Utility Costs

Hampton Roads’ Electric Utility Cost is 5.3¢

Workforce

5,000+ students graduating annually in Shared Services Programs

Companies

9,650+ Shared Service Companies in the Region

Operating Cost

The costs of doing business in Hampton Roads often fall below the national average.

Worker’s compensation costs are among the nation’s lowest

Wage rates are nearly 7% below the U.S. average

Office space at competitive rates

Cost of Living is 3% below the national average

Total Sales and Use Tax of 6% compared to a U.S. Average of 6.39%

Unemployment insurance taxes are 5th lowest in the nation

Average Wages and Salaries:

The average salary in the corporate, professional and financial services sector is 10% lower than the national average. Below are examples of the regional average wage for various occupations in this field.

Job Regional Average Wage National Average Wage
Customer Service Representatives $30,605 $34,715
Bookkeeping & Accounting Clerks $37,734 $41,225
Accountant and Autditors $67,805 $71,552
Management Analysts $88,864 $85,259
Sales Representatives $53,108 $56,139
Bill and Account Collectors $35,699 $37,003
Source: Bureau of Labor Statistics Wage & Occupation Data

Industry Spotlight: ADP

Automatic Data Processing, Inc. (ADP) is a leader in providing cloud-based human capital management solutions that include human resources, payroll, time, tax, talent and benefits administration to over 700,000 clients around the world. The Fortune 243 company joined the Hampton Roads business community in March 2016 when, with the help of the Alliance, they selected Norfolk, Virginia for a regional headquarters and customer service center — an announcement that represented 1,800 jobs and $32M in capital investment.

We chose to locate in Hampton Roads because of the thriving business climate and the opportunity to attract a diverse workforce that will make significant contributions to ADP and add value to the client experience

- Debbie Dyson Vice President, ADP, Inc.

Key Companies

Hampton Roads is home to nearly 10,000 companies operating in the business and shared services sector. Some of the most prominent include:

ADP

Anthem, Inc.

Atlantic Bay Mortgage Group

Bank of America

Capital One

Dollar Tree Management, Inc

Ferguson Enterprises

Geico

PRA Group, Inc.

New York Times Shared Services

Questions? Contact Our Team

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Hampton Roads Alliance
3 Commercial Place, Suite 1320
Norfolk, VA 23510
P: (757) 627-2315
F: (757) 623-3081

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