Virginia Beach

Virginia Beach is gaining quite a reputation as a great city for business. And it's easy to see why. Because in addition to the incredible lifestyle you'd expect 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. Yet 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 - 2008 Total Population 433,746 Total Households 162,012 Average Age 35.7 Age Breakout 0-19 years 28.2% 20-24 years 7.0% 25-44 years 29.9% 45-64 years 24.8% 65+ years 10.1% *Source: U.S. Census Bureau Median Household Income Year Median HHI 2008 $64,755 2005 $58,238 2000 $49,481 *Source: U.S. Census Bureau Educational Attainment Level % Less than 9th grade 2.1% 9th to 12th grade, no diploma 5.7% High school graduate 25.5% Some college, no degree 25.7% Associates degree 9.7% Bachelor's degree 20.6% Graduate/Professional Degree 10.7% *Source: U.S. Census Bureau, Demographics Now Labor Force   Emp. Civilian Labor Force 224,000 Employed 208,766 Unemployed 15,234 Unemployment Rate 6.8% *Source: Virginia Employment Commission		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 www.yesvirginiabeach.com  wharris@vbgov.com