Business, Management, & Professional Services

Norfolk’s business climate attracts a variety of companies in the business, management, and professional services industry, such as accounting firms, management and marketing consulting companies, corporate/subsidiary/regional managing offices, collection agencies, etc.

Competitive Advantages:

Economic Characteristics:

• Stable and competitive taxes and legislation protect “at will” employers
• Average salaries in this industry are almost 10% below the national average, resulting in lower labor costs
• A lower Cost of Living makes Norfolk attractive to employers
• Class A office rents are 33% below the national metropolitan average
• Virginia’s corporate income tax rate of 6% is below the national average and has not changed since 1972
• Norfolk’s unemployment insurance taxes are among the lowest in the nation

Location:

• Norfolk is only three hours from Washington, D.C.
• Daily Amtrak services to Washington, D.C.
• Norfolk International Airport provides nonstop flights to 40 locations and connections throughout the U.S. and internationally which facilitate traveling for business meetings or from one office location to another

Labor Force:

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

Business, Management, & Professional Services in Norfolk:
Total Jobs, Earnings, and Businesses

Business, Management, & Professional Services in Norfolk:
Jobs, Earnings, and Businesses by Industry