Virginia Beach


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Hampton Roads Alliance
Hampton Roads Alliance2 days ago
The U.S. aerospace and defense industry is facing a workforce shortage due to the COVID-19 pandemic, with an estimated 3.5 million vacancies likely by 2026. In addition to Virginia being the No. 1 state in defense spending, Hampton Roads is “well-positioned” in the war for talent with roughly 14,000 service members transitioning out of the military annually and about half remaining in the region. The Alliance, along with its peers at the Hampton Roads Workforce Council and the Hampton Roads Military and Federal Facilities Alliance recently spoke with Business Facilities on how Hampton Roads is ensuring the current workforce is prepared for the future, and looking for opportunities to create a resilient aerospace and defense industry in the years ahead.
Hampton Roads Alliance
Hampton Roads Alliance2 weeks ago
Governor Glenn Youngkin announced yesterday that Katoen Natie Norfolk Inc., a plastics and polymers warehousing and distribution company and subsidiary of Katoen Natie, will invest $59.9 million to expand in the City of Norfolk! The company will add a 450,000-square-foot warehouse, a rail yard, and expand its existing rail spur to meet increased demand. Virginia successfully competed with Georgia and South Carolina for the project, which will create 76 new jobs.

Parent company Katoen Natie is an international logistics service provider and port operator founded in 1854 and headquartered in Belgium. Katoen Natie is present in 35 countries on five continents, employing 15,000 worldwide. The Alliance worked with the City of Norfolk, the Virginia Economic Development Partnership, the Virginia Department of Rail and Public Transportation, and The Port of Virginia to secure the project for Virginia.

Read more: https://ow.ly/6mto50Q9TOL
Hampton Roads Alliance
Hampton Roads Alliance2 weeks ago
DOMA Technologies (DOMA), a USA-headquartered software and digital transformation company, will invest $3.7 million to expand in the City of Virginia Beach, creating 307 new jobs. The company’s new 69,000-square-foot headquarters facility will house nearly 500 total employees within the next three years. DOMA Technologies was founded in Virginia Beach, Va. in 2000 as a cloud-based document management company that realized a need for a holistic approach to document management and emerging cloud technology. Congratulations to our partners at the City of Virginia Beach and VEDP on this exciting announcement!

Virginia Beach, VA

Virginia Beach, the largest city in Virginia, is a vibrant East Coast city that nurtures a healthy mix of industry, attractions, and people. Miles of pristine waterfront make our community a premier destination for business and pleasure alike. With commitment to pro-business policies, access to a skilled and abundant workforce, and a robust transportation system, Virginia Beach is the ideal location for your next business opportunity.

Industry Highlights

The City’s business community is renowned for its highly diverse collection of industries, including nationally and internationally known corporate headquarters, technologically-advanced manufacturers, billion-dollar defense contractors, and locally owned shops.

LifeNet Health, headquartered in Virginia Beach, is a leader in the fields of tissue and organ research and regenerative medicine. It also is a global leader in allograft bio-implant technology, and a leading provider of organ donation and tissue banking services.

STIHL Inc., a German-based manufacturer of chain saws and other power tools, has a 150-acre, 1-million square-foot North American headquarters facility in Virginia Beach. Its Virginia Beach location has continually expanded since its opening more than 45 years ago, and today produces more tools than any other STIHL facility worldwide.

Quality of Life

Virginia Beach is a lively city with plenty of recreational activities. Most notable for its beautiful waterfront, there are a total 38+ miles of beaches and almost 80 miles of scenic waterway on which to enjoy a great day out by the water. Other popular attractions include First Landing State Park, The Virginia Aquarium, The Virginia Beach Amphitheater, and community festivals like the Pungo Strawberry Festival and the Oceanfront Neptune Festival. These are just a small taste of what our city offers to locals and tourists alike. 

Data

Industry Employment Breakdown

Industry # of Employees % of Workforce
Health Care and Social Assistance 24,164 11.6%
Professional, Scientific, and Technical Services 14,675 7%
Administrative and Support and Waste Management and Remediation Services

 

11,954

 

5.8%

Finance and Insurance 9,337 4.5%
Manufacturing 5,865 3%

Source: ECONOMIC MODELING SPECIALISTS INTERNATIONAL (EMSI), 2021 ESTIMATES

Demographics

Population

451,505

Median Age
36.9
Labor Force

207,894

Unemployment Rate

2.56%

Median Household Income

$76,600

Sources: Economic Modeling Specialists International (EMSI), 2021 Estimates

Key Companies

Sentara Healthcare

STIHL, Inc.

Anthem

LifeNet Health

GEICO

Virginia Beach Economic Development

Mr. Chuck Rigney, Interim Director
(P) 757-385-6464
crigney@vbgov.com
www.yesvirginiabeach.com

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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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