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Shenandoah Valley, Virginia

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Shenandoah Valley, Virginia Shenandoah Valley, Virginia VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP www.YesVirginia.org Community Profile Shenandoah Valley State Map Only a few locations can guarantee the right combination of resources that are crucial to your business’s success. Virginia’s premier location offers excellent domestic and international access. Centrally located on the U.S. East Coast, 40 percent of the U.S. population is within a day’s drive, and our integrated transportation system of highways, railroads, airports and seaports ensures that you can reach every one of your markets efficiently. Close proximity to Washington, D.C. facilitates contact with policy makers and the federal government system. Virginia continues to rank among America’s leading states for business by CNBC and Forbes.com. Business-first values, easy access to markets, stable and competitive operating costs, and a talented workforce all drove Virginia to the top. This unique combination of assets has encouraged businesses to prosper here for more than 400 years. Like you, they searched the world over for that convergence of resources that would help ensure their prosperity. For them, their search ended here. Chances are yours will too. • AAA bond rating- Virginia has maintained a AAA rating since 1938, longer than any other state. • Right-to-work law allows individuals the right to work regardless of membership in a labor union or organization. • Corporate income tax rate of 6% has not been increased since 1972. • Headquarters to 35 Fortune 1000 firms. • Headquarters to 52 firms each with annual revenue over $1 billion. • More than 17,300 high-tech establishments operate in Virginia. • More than 700 internationally-owned businesses from 45 countries are located in Virginia. • Ranks third among the 50 states as a recipient of federal R&D funds. • Streamlined permitting process. • Recruitment training programs to help new businesses become operational faster. • Programs at little or no cost to help businesses increase international sales. VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 1 Every reasonable effort has been made to assure the accuracy of this report through the use of standardized, reliable data sources, including the community. However, the Partnership provides this information “as is,” and therefore, assumes no liability arising from the use of this report or data. Community Profile Shenandoah Valley Location The Shenandoah Valley is located in the heart of the historic and scenic The Shenandoah Valley is located in the Shenandoah Valley of west-central Virginia. The region is comprised of seven heart of the historic and scenic counties (Augusta, Bath, Highland, Page, Rockbridge, Rockingham, and Shenandoah Valley of west-central Shenandoah) and five independent cities (Buena Vista, Harrisonburg, Virginia. Lexington, Staunton, and Waynesboro). This 4,264-square mile region is plentiful in natural resources and has a strong base in tourism, as well as retail, commercial, and industrial development. Interstates 64 and 81 provide easy access to the Ports of Hampton Roads and the Virginia Inland Port at Front Royal. The centrally located city of Staunton is 153 miles southwest of Washington, D.C.; 108 miles northwest of Richmond, the state capital; and 87 miles north of Roanoke. VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 2 Every reasonable effort has been made to assure the accuracy of this report through the use of standardized, reliable data sources, including the community. However, the Partnership provides this information “as is,” and therefore, assumes no liability arising from the use of this report or data. Community Profile Shenandoah Valley Labor Market Population Gender Distribution (2014) Male Female Shenandoah Valley 48.9% 51.1% Race/Ethnicity (2014) Profile Extended Classification Area Labor Area White 329,508 671,992 Black 18,037 80,548 Two or More 6,352 16,252 Asian 4,531 16,713 American Indian or Alaska Native 1,663 3,389 Pacific Islander 245 481 Hispanic (may be of any race) 22,763 35,253 Median Age (2014) Augusta 45 years Bath 49 years Buena Vista 37 years Harrisonburg 25 years Highland 56 years Lexington 22 years Page 45 years Rockbridge 49 years Rockingham 41 years Shenandoah 44 years Staunton 42 years Waynesboro 38 years VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 3 Every reasonable effort has been made to assure the accuracy of this report through the use of standardized, reliable data sources, including the community. However, the Partnership Community Profile Shenandoah Valley Labor Market Civilian Labor Force (2015) The Shenandoah Valley places a strong Shenandoah Valley 175,060 emphasis on developing a workforce Extended Labor Market Area 389,304 trained to meet the needs of Valley Total 564,364 employers. The Shenandoah Valley Partnership acts as a liaison between businesses and training providers to Labor Force Participation (2010-2014) identify training needs, obtain funding, Shenandoah Valley 59.7% and guide curriculum development. Extended Labor Market Area 60.4% Unemployment Unemployment Rate (July 2016) Shenandoah Valley 4.1% Extended Labor Market Area 4.1% Statewide 4.0% Unemployed (2015) Shenandoah Valley 8,124 Extended Labor Market Area 18,088 Total 26,212 Underemployed (2nd Quarter 2016) Shenandoah Valley 20,997 Extended Labor Market Area 50,546 Total 71,543 VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 4 Every reasonable effort has been made to assure the accuracy of this report through the use of standardized, reliable data sources, including the community. However, the Partnership provides this information “as is,” and therefore, assumes no liability arising from the use of this report or data. Community Profile Shenandoah Valley Labor Market Commute Time (2010-2014) A high-quality educational system; Worked from home 6,471 4.0% inexpensive cost of living and doing Under 15 minutes 55,831 36.2% business; friendly, quiet communities 15-24 minutes 47,684 30.9% and a scenic and unspoiled environment 25-34 minutes 24,695 16.0% are just a few of the qualities that make 35-44 minutes 8,149 5.3% the Shenandoah Valley an ideal place to 45-59 minutes 8,374 5.4% visit, live or do business. Over 60 minutes 9,713 6.3% Mean Travel Time to Work (minutes) Augusta 24 Bath 30 Buena Vista 17 Harrisonburg 15 Highland 24 Lexington 15 Page 33 Rockbridge 22 Rockingham 22 Shenandoah 31 Staunton 19 Waynesboro 19 Additional Labor Resources High School Graduates Not Continuing (2014-2015) 764 Two-Year College Graduates (Spring 2015) 4,072 Two-Year College Enrollees (Fall 2015) 29,817 Other College and University Graduates (Spring 2015) 30,677 Total 65,330 VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 5 Every reasonable effort has been made to assure the accuracy of this report through the use of standardized, reliable data sources, including the community. However, the Partnership provides this information “as is,” and therefore, assumes no liability arising from the use of this report or data. Community Profile Shenandoah Valley Labor Market Career Readiness Certificate (01/01/2015-05/31/2016) The Shenandoah Valley offers an Virginia’s Career Readiness Certificate (CRC) assists employers by environment friendly to families and certifying that a recipient possesses core skills in applied math, reading for industry. information, and locating information. The CRC certification is based on established Workeys ® assessment tests. Virginia uses a three-tiered approach (bronze, silver, gold) to credentialing certificate holders that is based on the recipient’s level of development skills. Shenandoah Valley 841 Extended Labor Market Area 553 Total 1,394 Educational Attainment On-Time Graduation Rate (Class of 2015) 91.4% Percentage of Shenandoah Valley population age 25+ who are high school graduates (2010-2014) 83.2% Percentage of Shenandoah Valley population age 25+ who have earned a Bachelor's Degree or higher (2010-2014) 23.2% VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 6 Every reasonable effort has been made to assure the accuracy of this report through the use of standardized, reliable data sources, including the community. However, the Partnership provides this information “as is,” and therefore, assumes no liability arising from the use of this report or data. Community Profile Shenandoah Valley Labor Market Employment by Sector* (4th Qtr. 2015) The Shenandoah Valley has long been Agriculture Forestry Fishing and Hunting 1,851 1.3% recognized for a dedicated labor force Mining Quarrying and Oil and Gas Extraction 144 0.1% with a strong work ethic and lifelong Utilities 446 0.3% commitment to learning. Construction 7,384 5.1% Manufacturing 23,079 15.9% Wholesale Trade 4,208 2.9% Retail Trade 17,245 11.9% Transportation and Warehousing 7,281 5.0% Information 2,025 1.4% Finance and Insurance 2,611 1.8% Real Estate and Rental and Leasing 1,578 1.1% Professional Scientific and Technical Services 3,817 2.6% Management of Companies and Enterprises 1,533 1.1% Administrative and Support and Waste Management 4,383 3.0% Educational Services 3,656 2.5% Health Care and Social Assistance 16,944 11.7% Arts Entertainment and Recreation 1,684 1.2% Accomodation and Food Services 16,307 11.2% Other Services 3,820 2.6% Total Government 25,114 17.3% Federal Government 1,054 0.7% State Government 9,205 6.3% Local Government 14,855 10.2% Unclassified 122 0.1% Total 145,232 100.0% N.D. - Not Disclosed *By Business Establishment VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP 7 Every reasonable effort has been made to assure the accuracy of this report through the use of standardized, reliable data sources, including the community. However, the Partnership provides this information “as is,” and therefore, assumes no liability arising from the use of this report or data. Community Profile Shenandoah Valley Labor Market Major Employers The I-81 corridor in the Shenandoah Manufacturing Valley is home to ten colleges and Estimated universities that strengthen the Company Product/Service Employment workforce and enrich the cultural vitality Georges Chicken LLC Poultry processing 600 - 999 of the Valley region.
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