Boston

New York

Philadelphia

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Hampton Roads, Virginia

Charlotte

Orlando

Miami CANADA

Boston, MA (642 miles)

Chicago, IL (902 miles) New York, NY (430 miles)

Philadelphia, PA (287 miles)

Washington, DC (203 miles) St. Louis, MO (913 miles)

Hampton Roads, Virginia

Charlotte, NC (316 miles)

Dallas, TX (1,347 miles) Atlanta, GA (585 miles)

Orlando, FL (743 miles)

economic development alliance

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Hampton Roads, Virginia REGIONAL PROFILE Population 1,750,000

Recognized as the 37th largest Metropolitan Median Age 36 Statistical Area (MSA) in the United States, Labor Force 850,000 Hampton Roads, Virginia is strategically Employed 820,000 located in the heart of the mid-Atlantic. Our region is a tightly integrated, diverse collection of 11 localities, all of which provide a wealth of benefits for businesses and organizations of every variety. Our collection of communities KEY EMPLOYERS is connected by a convenient and accessible Company Country of Origin transportation network which allows multiple methods for moving goods and services Automatic Data Processing, Inc. U.S. between national and international markets. In Canon Virginia, Inc Japan fact, 47% of all U.S. consumers are within one Continental Automotive Systems Germany day’s drive of the region. Dollar Tree Stores, Inc. U.S. In addition to its superior infrastructure, GEICO Corporation U.S. Hampton Roads is home to the Port of Virginia, Huntington Ingalls Industries U.S. the fastest growing port on the East Coast. Keurig Green Mountain Luxembourg Located in Foreign Trade Zone #20, the Port Liebherr Germany of Virginia features an unobstructed ice-free Massimo Zanetti harbor with 50-ft deep channels and a location Italy 18 miles from the open sea. As the only East Siemens Building Technologies Germany Coast port with congressional authorization Smithfield Foods, Inc. China for 55-ft depth channels, the Port of Virginia STIHL Germany will have the ability to accomodate the largest Swisslog Switzerland container ships ever to be built. Unilever Netherlands THE PORT OF VIRGINIA The Port of Virginia is a significant in infrastructure investments to economic force supporting jobs and $700MM be completed within two years commerce across Hampton Roads, Virginia and the Mid-Atlantic. increased capacity and 1.2 million 40% additional containers by 2020

6 terminals in Virginia 2.9MM TEU throughput in 2018

50-foot shipping channels, with congressional authorization for 55-feet

7.0% year-over-year TEU growth

2.5 hours to open sea

37% of cargo arrives/departs by rail, the most of any US East Coast port

140+ direct weekly routes

36,800 linear feet, almost 30 miles of on-dock rail track

REGIONAL WORKFORCE DEVELOPMENT A robust workforce development board TALENT & WORKFORCE and a number of educational institutions offer flexible programs and customizable The Hampton Roads region is home to a training opportunities to both individuals 850,000 workforce of over , replenished and employers in the region. annually by over 8,200 highly trained and disciplined exiting military personnel. 20,500+ Customers Served Annually 14,000+ military personnel exit the services in Virginia yearly. 70+ Fast Track Certifications 8,200 establish residency and Degree Programs in Hampton Roads. 58% of Virginia’s exiting military choose to live in Hampton Roads *TEU stands for twenty-foot equivalent units which is a method to measure the number of containers traveling through the port. LOCATION & ACCESSIBILITY e driv r 87 Hampton Roads is linked to domestic markets by ou h 93 s 1- e 1 Boston one of the country’s most modern highway systems. l 95 i 90 m 81 90 0 5 7 Detroit New York 79 80 of the U.S. population lives 80 Chicago Cleveland Philadelphia 47% within an 11-hour drive Baltimore 70 Washington D.C. 79 of the U.S. population lives 95

75 64 within a 750 mile radius 64 75% St. Louis 77 81 65 Raleigh Knoxville

40 40 40 AIR TRAVEL 75 Charlotte

85 Two airports, Norfolk International Airport and Newport News/ Atlanta Charleston Williamsburg International Airport serve the Hampton Roads 20 20 region and are located within 30 minutes of most business and residential areas. Combined, they serve four million passengers 75 Montgomery 95 200 flights Jacksonville annually and offer over per day. Daily direct flights to the following hubs:

Orlando

Charlotte, NC New York, NY Atlanta, GA Chicago, IL Chicago, IL Philadelphia, PA Detroit, MI Newark, NJ Miami Miami, FL Washington, DC New York, NY Washington, D.C.

RAIL SERVICE Hampton Roads enjoys exceptional cargo handling EDUCATION and transportation through the extensive rail service provided by Norfolk Southern and CSX. 12 Colleges & Universities

Trade & Technical Institutions 21 Boston

Detroit Students New York 100,000+ Cleveland Chicago Philadelphia Baltimore Washington D.C. 25,000+ Annual Degrees Raleigh Charlotte

Atlanta 91% 66% Charleston Population with Population a High School With At Least Norfolk Southern Diploma or Higher Some College CSX vs. U.S. average of 88% vs. U.S. average of 61% Jacksonville

Orlando

Miami COST OF DOING BUSINESS Top State for Business Virginia is an employer-friendly state with its “Right to Work” and “Employment at Will” labor #4 CNBC, 2018 structure. Our low business costs include a workers’ compensation insurance rate 42% Most Innovative below the national average, a corporate income State in America tax rate of only 6%, that has not increased since 1972, and unemployment insurance #7 WalletHub, 2018 rates among the lowest in the nation. # REGIONAL ANNUAL WAGES AND COST SAVINGS Hampton Roads, Virginia - Annual Wage Rate (All Occupations) $47,410

U.S. AVERAGE — $50,620

BALTIMORE, MD — $56,400

ATLANTA, GA — $51,390 LIFESTYLE

NEWARK, NJ — $62,870 The Hampton Roads region enjoys a mild temperate coastal climate enhanced by outstanding residential OPERATING COSTS: OFFICE SPACE and recreational options including: expansive shoreline $33.00 and beaches, amusement $24.52 $21.52 and theme parks, museums, $16.80 performing arts, festivals, HAMPTON U.S. AVERAGE U.S. AVERAGE ROADS, VA HAMPTON professional sports, regional ROADS, VA shopping malls and outlet 1st Class A Rent per SF 1st Class B Rent per SF centers, colonial cities and towns, state and national parks, OPERATING COSTS: INDUSTRIAL SPACE and much more. As the home $7.68 of Colonial Williamsburg and $6.62 $6.06 the Jamestown Settlement, $5.34 Hampton Roads has been HAMPTON U.S. AVERAGE HAMPTON U.S. AVERAGE ROADS, VA making history since 1607. ROADS, VA

Warehouse Market Total Industrial Market

UTILITY COSTS: ELECTRIC

HAMPTON ROADS, VA 5.3¢

SOUTHEAST AVERAGE 6.9

NATIONAL AVERAGE 8.2

EAST COAST AVERAGE 9.7

Average Industrial Rate, In Cents per Kilowatt Hour OUR Economic development organizations like the Alliance help guide companies SERVICES through the process of establishing a company location in the United States.

Establishing a New Business in the United States The Alliance will connect you with an experienced legal professional who can advise you on the best form of incorporation. The lawyer of your choice will then file all the required paperwork on your behalf. Generally, a new business can be established within less than 10 business days.

You should ask yourself the following questions:

What will the ownership arrangement be? Who should ‘own’ the new subsidiary — a person, a corporation or a mix of both?

Who should be an officer (President/Vice-President/Secretary) of the company?

What should be the business name of the new subsidiary in the United States?

Obtaining an Employer ID Number Generally, businesses need an Employer Identification Number (EIN), also known as a Federal Tax Identification Number. This number is a unique identifier for a business entity. The Alliance, with the assistance of a legal professional, will help obtain an EIN for your new business.

Business and Personal Banking After incorporating and obtaining the EIN, the new business can open a banking relationship. The Alliance project manager can arrange and introduce you to a variety of national and international banks with local branch offices. The services include online banking, wire transfers, bill payment, check processing, debit and credit cards for business and personal purposes.

Bookkeeping, Accounting and Audit The Alliance manager will introduce you to providers of bookkeeping, accounting and audit services. Understanding the best tax structure and its implications is of particular interest to many business owners and executives. The services offered range from small business support (invoice processing and bill paying), accounting work to audit of international transactions. Meeting all filing requirements and deadlines for the Internal Revenue Service (IRS) and other entities can be ensured in this way. CASE STUDY: ATARFIL

15 NEW $5.1MM CAPITAL 285,000 JOBS INVESTMENT SQ. FT.

Hampton Roads Economic Development Alliance The Alliance assisted Atarfil, a Spanish company, establish their first U.S. location. Services provided to include:

• Providing a thorough background of the local business environment, data analytics and an overview of how to establish operations in the region

• Coordination of meetings and tours for multiple visits to region

• Transportation to and from all meetings and tours

• Hosting of welcome receptions and dinners to introduce company to regional business leaders

International Advisory Committee Established by the Alliance, the International Advisory Committee is a group of service providing businesses with significant experience in assisting international firms establish operations in the United States. This group provided Atarfil with valuable assistance as follows:

• Local law firm assisted in Visa application process

• Local real estate agent assisted employees that were relocating in their search for new homes and explained the process of purchasing a home in the United States

• Car dealership met with company to explain the process of an international company purchasing a car

• Multiple commercial real estate brokers provided a detailed search of property/site options

• Multiple general contractors reviewed building requirements and provided estimates on the cost to remodel/upgrade existing buildings to meet the company’s needs

• Staffing agency provided information on individuals in search of jobs that met the company’s workforce needs

• The Port of Virginia provided logistical intelligence and arranged conversations with US Customs. U.S. Customs met with company to explain how to import products without delays

• Local economic development offices assisted in expediting permitting process

• Regional utility providers met with company and provided plans for all necessary upgrades in the buildings

• Local school systems explained process of enrolling an international student OUR SERVICES

Finding Office, Manufacturing and Warehouse or Flex Space The Alliance has access to a regional database of available commercial real estate. New businesses can select from a variety of different building options. Warehouse buildings are designed for storage and distribution of goods and can easily be accessed by truck for pick-up and delivery. Manufacturing buildings are designed for the production, storage and distribution of products. Flex buildings are designed to offer some office space along with a manufacturing or assembly space. Based on your requirements and needs, your Alliance manager will provide you with a list of available buildings. We will arrange tours of all buildings you would like to visit during your time in Hampton Roads. Buildings can be single tenant (one company) or multi-tenant (several companies). Some buildings are for rent (‘lease’) while others might also be for purchase. Typically, commercial real estate is categorized in ‘A’ (newest, in perfect condition, high quality), ‘B’ (a few years old, in good condition) or ‘C’ (oldest, need repairs).

Obtaining a Visa for the United States Many business professionals can travel to the United States under the Visa Waiver Program and conduct business without obtaining a visa. New investors can also apply for other types of visas, allowing them to earn a salary in the United States. Applying for a (work) visa is specially tailored to the person applying for it and is best done by an immigration lawyer. The Alliance staff will gladly introduce you to experienced legal professionals who can advise you on obtaining the most suitable visa for you or your employees. The filing fees for a visa are set, while the cost to prepare the paperwork depends on the complexity of the visa application.

Obtaining Proper Permits The Alliance staff will work with the economic development department in each of the 11 communities in the region to ensure your new business operates in the appropriate zone (mixed use for office, light and heavy industrial for manufacturing, assembly or warehouse). Your project manager will also work with a new business in determining if it needs any special permits. All of this is done during the search for a building.

Staffing Needs Finding employees can be done in many ways. There are the traditional ways of posting job advertisements in local newspapers, online job search engines (for example indeed.com; monster. com). Many foreign companies use employment agencies to help find qualified workers. The Alliance works with several temporary hire agencies that specialize in referring qualified applicants. Many companies view these services as advantageous because the new hire is not yet a permanent employee of the new company with all its implications. Corporate Insurance Insuring the new company is an important aspect of establishing a new location. The Alliance is supported by insurance brokers focusing on the insurance needs of businesses. Discussing insurance policies is paramount to protecting the company and to comply with the law.

Place of Residence Finding a private residence (house or apartment) for rent can be done within a short amount of time. Rental agreements for houses or apartments are signed for a period of 12 months. Some landlords offer short term rental agreements for a premium.

Purchasing a Car Purchasing a car and paying cash is the easiest way. Purchasing a car and acquiring financing for a newly established company is a challenging process. While a newly established company can apply for financing, such transactions ultimately require backing through an individual with established credit history.

Establishing Credit History Possibly the most challenging endeavor is to establish credit history in the United States. While it mostly takes time, newly established companies can do a few things, such as exemplary financial management, to accelerate the establishment of credit history in the United States. This is also true for establishing personal credit history.

Schooling of Children

In the United States, there are public and private schools for children. Private schools require parents to pay a fee for their children to attend. Public schools are free of charge for parents. If a child attends public school, the neighborhood in which the family lives determines the school. Attending private school is not confined to a specific area/section.

Cultural Immersion: it is very easy for foreign families to immerse into the local culture through sporting clubs, religious organizations, civic organizations, school activities, interest groups, cultural events and any daily occurrences. The Hampton Roads area is known for hospitality and a welcoming attitude. CASE STUDY: AUTOMATIC DATA PROCESSING, INC.

Automatic Data Processing, Inc. (ADP) is a leader in Newport 1,800+ NEW JOBS providing cloud-based human capital management solutions News Poquoson that include human resources, payroll, time, tax, talent and benefits administration to their 700,000+ clients all over CAPITAL $32MM INVESTMENT the world. Through the tireless efforts of the Alliance, ADP Hampton selected Hampton Roads, Virginia for the site of a regional headquarters and customer service center, because of its 285,000 SQ. FT. thriving business climate, access to a talented and diverse Isle of Wight workforce pool and unparalleled quality of life. Norfolk

Portsmouth Virginia Project Timeline Southampton Beach September 2015 • Alliance receives an extensive RFI from a consulting firm requesting information on labor force, wages, student population, existing companies, and business expansions & closing Suolk Chesapeake • Alliance compiles response with 11 localities and private sector investors Franklin • Alliance hosts site consultant. Itinerary includes meeting with existing employers, workforce investment boards, select colleges, young professional association and multiple buildings/sites

November 2015 • Select localities move forward in selection process and sign Non-Disclosure Agreements • Alliance travels to New Jersey with Virginia Economic Development Partnership to meet with incentives team and discuss incentives available through the Commonwealth and Hampton Roads • Conference call with all parties in which a visit is announced for December to discuss incentives with finalist locations, two of which are located in Hampton Roads

December 2015 • Decision makers visit Hampton Roads to meet with two finalist localities. Virginia Secretary of Commerce and trade leads discussion and VEDP also in attendance to discuss state incentives, and ongoing communications continue through January 2016

February 2016 • Third visit to Hampton Roads by decision makers occurs. Alliance prepares, coordinates and hosts entire visit to include meeting with various entities to assist in hiring and recruiting and a reception with private sector investors. Visit also includes a second meeting with young professional association which was instrumental in decision making process • Project increases from 1,000 full time employees to 1,800 full time employees • Norfolk City Council formally considers performance grant

March 2016 • ADP, Inc announces they have selected Hampton Roads, Virginia for a regional headquarters and customer service center Newport News Poquoson

Hampton

Isle of Wight Norfolk

Portsmouth Virginia Southampton Beach

Suolk Chesapeake Franklin

CONTACT US

The Hampton Roads Economic Development Alliance is dedicated to assisting you with your business relocation or expansion needs across our 11 localities.

The decision to invest in a new or expanded operation is never taken lightly. Our goal is to match the business needs required for your company to be successful with the assets found in Hampton Roads, Virginia. Our objective is to facilitate the evaluation process and provide powerful tools that save you time and money as you seek to locate your new business operations in the Hampton Roads region. Connect with us today.

economic development alliance

500 Main St, Suite 1300 • Norfolk, VA 23510 • USA +1-757- 627-2315 [email protected]

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