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Virginia Beach

Virginia Beach, Virginia’s most populous city, is a great place to start or expand a business. While regarded as one of the favorite vacation destinations on the East Coast, business leaders across the globe also recognize the benefits of locating a company here. We are home to national and international corporate headquarters, including STIHL, LifeNet Health, Liberty Tax and others, and we are extremely pro-business, knowing how to help companies succeed. Simply put, businesses thrive here. When you consider all that, plus our low tax rate, high-tech infrastructure, attractive cost of living, a growing population of educated and motivated young people, and our beaches, you can understand how this resort city really is America’s next business boomtown.

Population
Economic Area Population 
Virginia Beach 450,102
Virginia 8,410,175
United States 319,857,056

Economic Modeling Specialists International (EMSI), 2015

Percent of Population by Age Group
Age Range Percent of Population
Under 18 24.10%
18-34 26.00%
35-54 26.70%
55+ 24.50%
Median Age 35.9
Gender  
Male 49%
Female 51%

Esri Business Analyst Online 2015 Detailed Age Profile

Median Household Income
Year Amount
2015 $ 61,436
2020 Forecast $ 69,372

Esri Business Analyst Online, 2015 Forecast

Educational Attainment Ages 25+
Virginia Beach  
At Least a High School Diploma 94.30%
At Least Some College 72.10%
Bachelor's Degree or Higher 34.30%
United States  
At Least a High School Diploma 87.80%
At Least Some College 61.10%
Bachelor's Degree or Higher 30.50%

Esri Business Analyst Online 2015 Market Profile

Labor Force
  Amount
Civilian Labor Force 226,756
Employed 218,960
Unemployed 7,796
Unemployment Rate 3.4%

U.S. Bureau of Labor Statistics, April 2016

Largest Employment by Industry Sector
Industry Number of Employees Percent of Workforce
Government 29,194 17.03%
Retail Trade 24.025 14.02%
Accommodation and Food Services 22,665 13.22%
Healthcare and Social Services 21,291 12.42%
Professional, Scientific, & Technical Services 12,723 7.42%
Administrative Support 11,835 6.90%

Virginia Employment Commission, 2015

Largest Private Employers
Employer
STIHL, Inc.
LifeNet Health
Liberty Tax Service
GEICO
Avis Budget Group, Inc.
Contact Information
Mr. Warren Harris, Director
City of Virginia Beach Department of Economic Development
4525 Main Street, Suite 700
Virginia Beach, VA 23462
(P) 757-385-6464
(F) 757.499.9894
www.yesvirginiabeach.com
wharris@vbgov.com
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