• +1 (757) 664-4338

 

Advantages

► Virginia's business friendly climate is characterized by stable and competitive taxes and legislation that protects "at will" employment practices.

► Over 100,000 are directly employed in this sector in Hampton Roads.

► Strong, growing labor pool of skilled professional workers.

► Workforce includes 7,000 transitioning military personnel and 20,000 military spouses.

► Average salaries in this sector are 10% lower than the national average.

► Low cost of living makes area attractive for employees

► Average office space costs are lower than the national average

► Average commute time is lower than the national average.

► Virginia’s income tax rate of 6% has not changed since 1972 and is 0.9% below the national average

► Norfolk sits three hours from Washington, D.C. with direct daily Amtrak train service to Washington.

► Ability to commute to the Washington region on occasion.  Norfolk International Airport provides daily flights to major locations around the U.S.

► Norfolk is the North American Headquarters for the North Atlantic Treaty Organization (NATO) Allied Command Transformation. There are currently 29 member counties in NATO, including Albania, Belgium, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Turkey, The United Kingdom, and The United States.

 

The Hampton Roads region is home to three Fortune 500 headquarters:

Company City Revenues Rank
Norfolk Southern Norfolk $9.9 billion 284
Dollar Tree Chesapeake $20.7 billion 136
Huntington Ingalls Newport News $7.1 billion 380

 

Major companies which are either headquartered in Norfolk or have their North American headquarters here include:

Norfolk Department of Economic Development Mission

Generate wealth for the City of Norfolk through business expansion, enhancement, and new business development complementary to our neighborhoods.

Contact Info

(757) 664-4338
999 Waterside Drive
Suite 2430
Norfolk, VA 23510

Staff Details

Chuck Rigney
Director of Economic Development

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