► 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:
|Norfolk Southern||Norfolk||$9.9 billion||284|
|Dollar Tree||Chesapeake||$20.7 billion||136|
|Huntington Ingalls||Newport News||$7.1 billion||380|