Portsmouth


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Portsmouth, Va

Portsmouth boasts 90 miles of shoreline, and 360 degrees of opportunity. The City’s landscape is surrounded by water and has attracted the industrial maritime industry and related trades for three centuries. The U.S. Navy’s oldest and largest industrial facility – the Norfolk Naval Shipyard – has spurred many private-sector business opportunities in ship repair. The Port of Virginia operates two terminals in Portsmouth – Portsmouth Marine Terminals (PMT) and the Virginia International Gateway (VIG). Economic development tools like the state-designated Enterprise Zone program and locally-funded incentives attract new businesses to Portsmouth, as well as encourage the growth of existing industries.

Industry Highlights

Portsmouth offers a diverse landscape of highly skilled and well-educated workforce and a robust infrastructure that includes two of the Port of Virginia terminals - Portsmouth Marine Terminals (PMT) and the Virginia International Gateway (VIG). Home to the The U.S. Navy’s oldest and largest industrial facility – the Norfolk Naval Shipyard – the City is proud to host many private-sector business opportunities in ship repair, advanced manufacturing, logistics, and more. A growing hub in modeling & simulation, Portsmouth offers a high concentration of technical expertise unique to the region and the country.

As the home to two large Port of Virginia terminals, Portsmouth is a strong partner for maritime and logistic businesses and ancillary companies that support supply chain work. The intermodal infrastructure that is built into the history of Portsmouth lends itself naturally to assist manufacturers of all kinds in building successful business in the City, from small-scale stamping to large scale work. Information services like call centers or IT hubs such as data centers will find themselves at home in Portsmouth with the diverse workforce and skilled talent bringing technical skills to the city. Modeling, simulation, and technology has taken off with organizations leading the national charge in unmanned systems and first responder training, and specialty retail is growing across all business districts.

Quality of Life

Portsmouth boasts 90 miles of shoreline, and 360 degrees of opportunity. The City’s landscape is surrounded by water and has attracted the industrial maritime industry and related trades for three centuries. The U.S. Navy’s oldest and largest industrial facility – the Norfolk Naval Shipyard – has spurred many private-sector business opportunities in ship repair. The Port of Virginia operates two terminals in Portsmouth – Portsmouth Marine Terminals (PMT) and the Virginia International Gateway (VIG). Economic development tools like the state-designated Enterprise Zone program and locally-funded incentives attract new businesses to Portsmouth, as well as encourage the growth of existing industries.

Data

Industry Employment Breakdown

Industry # of Employees % of Workforce
Health Care and Social Assistance 7,104 42.78%
Administrative and Support and Waste Management and Remediation Services 2,549 15.35%
Transportation and Warehousing 2,134 12.85%
Manufacturing 1,567 9.44%
Professional, Scientific, and Technical Services 1,474 8.88%

Source: EMSI

Demographics

Population
94,333
Median Age
37.2
Labor Force
44,701
Unemployment Rate
3.8%
Median Household Income
$51,184
Sources: U.S. Bureau of Labor Statistics, November 2019; Esri Business Analyst Online, 2024 Forecast; Esri Business Analyst Online 2019 Detailed Age Profile; Economic Modeling Specialists International (EMSI), 2019 Forecast

Key Companies

Bon Secours Healthcare

Crofton Industires

Fairlead Integrated

Linx Industries

NSC Technologies

Portsmouth Economic Development

Mr. Robert D. Moore, Director
(P) 757-393-8804
robert.moore@portsmouthva.gov
www.AccessPortsmouthVA.com

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Hampton Roads Alliance
500 E. Main St, Suite 1300
Norfolk, VA 23510
P: (757) 627-2315
F: (757) 623-3081

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COVID-19 INFORMATION AND RESOURCES
Get the guidance you need on our 757 COVID-19 Business Recovery Forum. Read advice from industry experts and ask questions at www.757recovery.com. For business resources related to Coronavirus, please visit the Hampton Roads Chamber’s COVID-19 Business Resource Guide.