Home To The Largest Naval Station In The World
The Hampton Roads area is home to one of the world’s largest populations of military personnel, with approximately 83,000 active duty military personnel.
Direct economic impact of the Navy in the region exceeds $13.4 billion per year. Also, $21.5 Billion of direct DoD Spending were recorded in 2018. The military currently has 64 ships homeported in the area and 36 aircraft squadrons. They also have a variety of Navy Special Forces and support units. Norfolk celebrated the 100th anniversary of Norfolk’s Naval Base in 2017.
The Navy has awarded a $15.2 billion contract for the construction of two nuclear-powered aircraft carriers to Huntington Ingalls Industries-Newport News Shipbuilding in 2019. The ships are scheduled to be delivered in 2028 and 2032.
Home to Virginia’s Port
Dredging will be completed in early 2025 making Virginia home to the deepest port on the East Coast to serve the world’s ultra large container vessels. In 2019, the rail yard expansion will be completed along with the $320 Million expansion of Virginia International Gateway VIG doubling the capacity of the existing operation.
By late 2020, 60 Rail Mounted Gantry Cranes will be in place and $375 million expansion will be complete. Norfolk International Terminals (NIT) Phase II will be complete in 2030. The cranes are the largest on the East Coast.
Virginia is the best choice for FTZ activities due to our strategic mid Atlantic location. Companies locating in FTZ 20 can benefit from advanced distribution networks; easy and reliable access to shipping channels, highways, railways, and airways.