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Virginia Beach

Virginia Beach in Hampton Roads

Virginia Beach is gaining quite a reputation as a great city for business and it's easy to see why. In addition to the incredible lifestyle expected from one of America's favorite vacation destinations, Virginia Beach also boasts a skilled, educated workforce, strategic location, low tax rates and a dynamic, diverse economy. Virginia Beach’s proximity to the world’s largest naval base—not to mention the Pentagon—makes it an obvious candidate for companies associated with the Department of Defense or Homeland Security contract firms. Its low tax rates and water-oriented lifestyle are also attractive to employees of engineering and management firms, business or professional service companies, corporate regional offices, information management centers, computer and data-processing services—or just about any company that wants to attract people who enjoy living as much as they enjoy working.

 

Population - 2010
Total Population 437,994
Total Households 165,089
Median Age 34.9
*Source: 2010 Census

Age Breakout
0-19 years 26.7%
20-24 years 8.0%
25-44 years 28.9%
45-64 years 25.7%
65+ years 10.7%
*Source: 2010 Census
Median Household Income
Year Median HHI
2010 $64,065
2005 $58,238
2000 $49,481
*Source: U.S. Census Bureau 08-10 ACS
Educational Attainment
Level %
Less than 9th grade 2.1%
9th to 12th grade, no diploma 5.1%
High school graduate 24.3%
Some college, no degree 27.2%
Associates degree 9.9%
Bachelor's degree 20.8%
Graduate/Professional Degree 10.6%
*Source: U.S. Census Bureau 08-10 ACS
Labor Force
  Emp.
Civilian Labor Force 228,976
Employed 215,415
Unemployed 13,561
Unemployment Rate 5.9%
*Source: Virginia Employment Commission 02/12
Largest Employers

Amerigroup Corporation
AMSEC LLC / SAIC
GEICO Direct
LifeNet Health
STIHL Inc.

*Source: Hoovers.com, HREDA Communities
Employment by Industry
Industry 167,804 Emp. % Emp.
Natural Resources and Mining 63 0%
Construction 9,728 5.8%
Manufacturing 5,439 3.2%
Trade, Transportation, and Utilities 28,978 17.3%
Information 3,802 2.3%
Financial Activities 12,807 7.6%
Professional and Business Services 25,812 15.4%
Educational and Health Services 21,956 13.1%
Leisure and Hospitality 26,684 15.9%
Other Services 5,765 3.4%
Government 26,619 15.9%
*Source: Virginia Employment Commission
Contact
Mr. Warren Harris
City of Virginia Beach Department of Economic Development
222 Central Park Ave., Suite 1000
Virginia Beach, VA 23462
(P) 757.385.6464
(F) 757.499.9894
http://www.yesvirginiabeach.com
wharris@vbgov.com

 


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The nation's leading business analysts agree: Virginia is the best state for business.

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