Norfolk’s business climate supports companies in the business, corporate, and management services industry, which is illustrated by the fact that Norfolk is already home to numerous company headquarters, shared services offices, and consulting firms. This industry includes accounting services, management consulting, marketing consulting, corporate/subsidiary/regional managing offices, collection agencies, shared services, etc.

Competitive Advantages:

Economic Characteristics:

  • Stable and competitive taxes and legislation protect “at will” employers
  • Average salaries in this industry are 10% below the national average, resulting in lower labor costs
  • A lower Cost of Living makes Norfolk attractive to employers
  • Average office space costs are lower than the national average
  • Virginia’s income tax rate of 6% has not changed since 1972
  • Virginia’s income tax rate is 0.9% below the national average


  • Norfolk is only three hours from Washington, D.C.
  • Daily Amtrak services to Washington, D.C.
  • Norfolk International Airport provides daily flights to major locations around the U.S.

Labor Force:

  • Strong, growing labor force of skilled professional workers
  • Transitioning military personnel
  • Military spouses

Business, Management, & Professional Services

  • Total Jobs in Norfolk (2021): 16,654
  • Weighted Average Earnings per Job in Norfolk: $81,718
  • Payrolled Business Locations in Norfolk (2021): 889
NAICS Description2021 Jobs (Norfolk)Avg. Earnings Per Job (Norfolk)2021 Payrolled Business Locations (Norfolk)
5613Employment2,317$73,495 59
5413Architectural, Engineering, & Related2,214$91,816 112
5614Business Support2,004$74,301 22
5616Investigation & Security1,965$39,166 27
5511Management of Companies & Enterprises1,603$137,031 56
5617Services to Buildings & Dwellings1,378$36,652 101
5411Legal1,288$112,625 127
5416Management, Scientific, & Technical Consulting 1,202$101,172 133
N/AOther2,683$83,738 253
N/ATotal16,654$81,718 889

Source: Economic Modeling Specialists Intl. (Emsi)

Key Employers in the Business, Management, and Professional Services Industry in Norfolk

Company Area
ADP Payroll Processing
KPMG Audit, Tax, Advisory
Dominion Enterprises Marketing Consulting
Landmark Media Enterprises Internet Publishing
Portfolio Recovery Associates (PRA) Collection Agency
New York Times Shared Services

Source: Economic Modeling Specialists Intl. (Emsi)