Location. Location. Location. just one of many reasons that keeps Chesapeake, VA, Always Prepared to Do Business.
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1 Location. Location. Location. just one of many reasons that keeps Chesapeake, VA, Always Prepared to Do Business. w w w. c h e s a p e a k e v a. b i z
2 IL IN MI OH WVA PA VA NY MD MA CT RI NJ DE Chesapeake mi km Boston, MA New York, NY Chicago, IL Philadelphia, PA Baltimore, MD Washington, DC Positioned at the crossroads of opportunity and potential. Here, our business community thrives on Chesapeake s prime East Coast position and close proximity to two-thirds of the nation s population and industrial activity. With neighboring cities Norfolk, Virginia Beach, Portsmouth, Suffolk, Hampton and Newport News, Chesapeake is in the heart of a dynamic metropolitan statistical area (MSA) of more than 1.6 million people. Our business community has invested more than $556 million, created 2,693 new jobs and saved nearly 5,000 positions. Nearly half (42%) of the region s international businesses and 20% of the region s largest employers are located here and with good reason. Chesapeake plays an active role in international commerce with access to the East Coast s largest intermodal facility, deep-water port and a robust transportation system to keep both products and people moving forward. We re ranked among the country s top 100 best places to live and raise a family in a state that s been #1 for business four years in a row.* We invite you to explore our region, an area rich in history, natural wonders and brimming with opportunity. Our business community is ready for business. Are you? *Best States for Business and Careers, , Forbes.com; Top 100 Best Cities to Live, 2010, Money Magazine; Top 100 Best Cities to Raise a Family, 2011, Parenting; Top States for Business, 2011, CNBC.com KY NC Raleigh, NC TN Charlotte, NC SC Atlanta, GA AL GA Savannah, GA
3 International Profile Over 70 companies from 18 countries with 42% of the region s international business located here Austria Australia Chesapeake, VA - Virginia s third largest city and a hot spot for new business investment. Education For Profit Institutions in Chesapeake 6 4-Year Colleges/Universities in the Region 8 2-Year Community Colleges in Chesapeake 2 Brazil Labor Inventory for chesapeake city LABOR INVENTORY FOR CHESAPEAKE CITY Natural Resources 0.2 Canada Chile China With nearly 225,000 people, a technically skilled workforce, accessibility to the global marketplace and a diverse economy, Chesapeake offers the right combination for business success. The city s thriving technology sector has helped establish Chesapeake as an early adopter of new technology. Chesapeake has been recognized by IBM as a Smarter City for technology use and ranked #9 in the country as an ipad friendly city by Men s Health magazine. * Information 2.9 Manufacturing 4.58% Leisure 11.13% Government 4.67% Fire 4.13% Other Services 3.80% Professional Business Services 17.2 Retail 15.6 N Denmark 3% Finland City Facts Population 224,113 Labor Force 118,351 Unemployment Rate 6.6% *Source: JobsEQ Data, 2010 Q3 Education/Healthcare 17.43% TWU 4.6 Construction 9.02% Wholesale 4.3 France 7% Germany 17% Greece Italy 3% Japan 2 Liechtenstein Largest Employers 20% of the region s largest employers; 180 manufacturers employing more than 95,000 people Canon Information Technology Services, Inc.; Capital One; Cox Communications, Inc.; Dollar Tree Stores, Inc.; General Dynamics Information Technology; HSBC Private Label Corp; Sentara Healthcare; QVC Chesapeake, Inc. Industry Sectors Existing Industries: Professional Business Services and Technology Healthcare; Maritime Logistics and Transportation; Defense Technologies Service and Support; Manufacturing and Construction; Leisure and Hospitality; Retail Development New Target Industries: Energy Products and Services; Healthcare Technologies; Advanced Manufacturing Demographics Gender Male 48.5% Female 51.5% Ethnicity White 62.7% Black or African American 29.5% Asian or Pacific Islander 2.5% Hispanic or Latino 3.5% Not Hispanic or Latino 96.6% Median age 36.6 Median Household Income $65,555 Total Households (2010) 80,102 The Netherlands PA NJ South Korea Spain Sweden 10% IN KY OH MD Alexandria WVA Richmond Roanoke DE Chesapeake United Kingdom 10% NC TN
4 Business Districts Diverse Real Estate Opportunities Across 353 Miles. Chesapeake s five, diverse and dynamic business districts are ready for business. The city spans 353 square miles and includes 25 million square feet of constructed office space with 12 major industrial and commercial areas - including established parks. These 12 major areas are made up of more than 20 million square feet of industrial space. The city s strong retail sector benefits from more than 13 million square feet of retail space with two regional malls. Greenbrier - The largest business district in Hampton Roads, with more than 19 million square feet of commercial space and 51,000 daytime employees. This city established Greenbrier as a Tax Increment Financing (TIF) District to preserve the district s prime location for business, recreation and urban living. South Norfolk (SoNo) Located along the Elizabeth River, this historic district offers a mix of high-density residential neighborhoods and waterfront industrial activities. The city s most diverse demographics are also found here. Western Branch With an average household income exceeding $89,897, Western Branch provides abundant opportunities for living and shopping. The district serves as the retail anchor for Hampton Roads in the I-664 corridor. The more than 800,000-square-foot Chesapeake Square Mall is located here and offers a vibrant mix of new and longstanding retailers. Great Bridge With the Atlantic Intracoastal Waterway fingering its way through the region, Great Bridge is home to Chesapeake s municipal complex. The district has a rich history and was the site of the Revolutionary War Battle of Great Bridge in The district is also the site of the Chesapeake Campus of Tidewater Community College (TCC), the fastest growing campus in the TCC family serving 16,000 students annually. Deep Creek/Cavalier - One of the oldest - and largest - industrial centers in Hampton Roads. Deep Creek has successfully integrated new, planned developments with historic preservation. The district is home to Cavalier Industrial Park and the 54-acre Gilmerton Industrial Park located in the South Military Highway corridor. Both parks are quickly accessible from I-464, I-64 and I-264. * Maps of Chesapeake s business districts are available online at: *CoStar.com; *DemographicsNow.com, 2011
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