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Chesapeake Economic Development Fact Sheet

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Chesapeake Economic Development Fact Sheet Annual Average Wages for Chesapeake City, •One of the most successful commercial shipping Virginia by Industry ports worldwide linking to more than 250 ports in more than 100 overseas locations •Virginia International Terminals, Inc., operates three DESCRIPTION AVERAGE WAGES state-owned general cargo terminals in the region and one inland port: Accommodation and Food Services $14,315 - Norfolk International Terminal - Portsmouth Marine Terminal Administrative and Support and Waste $32,369 - Newport News Marine Terminals Management and Remediation Services - Virginia Inland Port (Front Royal) •The largest intermodal facility on the U.S. East Coast CHESAPEAKE, VA Agriculture, Forestry, Fishing and Hunting $23,872 with full service for international trade including a foreign trade zone, U.S. Customs and freight Arts, Entertainment and Recreation $16,421 •Designated a Labor-Market Port by the International Longshoremen’s Association Construction $45,301 Quality of Life and Community Services Education Services $36,443 £Recreational Facilities •Great Dismal Swamp National Wildlife Refuge Finance and Insurance $49,638 •Northwest River Park and Campground FACT •67 parks and/or play areas citywide Healthcare and Social Assistance $42,236 •Public and commercial camping •Three public and three commercial boat ramps Information $52,803 •Two senior centers and seven community centers •10 recreation areas and parks Management of Companies and Enterprises $79,383 •Golfing £Community Services Manufacturing $53,805 •Six branches of the U.S. Postal Service SHEET Mining, Quarrying, and Oil and Gas Extraction $62,942 •Major financial institutions •More than 130 churches serving all denominations Other Services (except Public Administration) $29,555 •One central library, six additional branches and one bookmobile £Regional Medical Resources Professional, Scientific and Technical Services $58,279 •Jones Institute for Reproductive Medicine •The Diabetes Institute Foundation Public Administration $48,425 •The Children’s Hospital of the King’s Daughters •Eastern Virginia Medical School Real Estate and Rental and Leasing $38,384 £Nine general hospitals serve the area, including Chesapeake Regional Medical Center, which includes Retail Trade $25,412 •Chesapeake General Hospital, a 310 all private bed facility with a medical staff of more than 600 physicians Transportation and Warehousing $49,921 •The Lifestyle Fitness Center •The Birth Place Utilities $66,399 •Cedar Manor Assisted Living Center •The Women’s Unit Wholesale Trade $54,035 •The Sleep Center ® •Sidney M. Oman Cancer Center Source: JobsEQ . Data as of Q4 2013. Note: Figures may not sum due to rounding. •Stanley Jennings Outpatient Center •Diagnostic Center of Chesapeake Transportation •The Surgery Center of Chesapeake •Chesapeake Regional Home Care Services As the transportation hub of the region, Chesapeake is linked to one of the •Chesapeake Regional Health Foundation most modern interstate and state highway systems in the country. •Typical commute to work is only 21.6 minutes Regional Attractions •Norfolk International Airport is only 20 minutes away, offering more than 250 daily flights £Performing Arts & Cultural Resources •Chesapeake Regional and Hampton Roads Airports •Virginia Children’s Museum provide corporate flight service within the city •Mariner’s Museum •Interstate Highway 64 originates in Chesapeake; •The Chrysler Museum I-264, I-464, and I-664 also serve the city •Virginia Symphony •U.S. Route 58 connects Chesapeake to the principal •Virginia Zoological Park North/South highways on the East Coast: I-95 and I-85 •Nauticus National Maritime Museum •U.S. Route 13 connects the city to Virginia’s Eastern Shore •Sandler Center for the Performing Arts •The Chesapeake Expressway (Route 168), a 16-mile, •Virginia Aquarium and Marine Science Center four-lane divided highway, links I-64 to North Carolina £Nearby Attractions and the Outer Banks •Busch Gardens •Rail service provided by Norfolk-Southern Corporation •Jamestown/Yorktown and CSX Corporation •Colonial Williamsburg •Connections via the Norfolk and Portsmouth Beltline •Oceanfront City of Chesapeake Economic Development I 676 Independence Parkway, Suite 200 I Chesapeake, Virginia 23320 Tel 757.382.8040 I Fax 757.382.8050 I Email: [email protected] I Website: www.chesapeakeva.biz Economic Facts •Aircraft: $0.58 per hundred of the assessed value Military Facilities Business Districts •Boats: $0.09 per hundred of the assessed value •One of the 100 largest cities in the U.S. and third largest city in the £Chesapeake •Business Property (Furniture, Fixtures and Equipment): $4.08 per Greenbrier - largest business district in Hampton Roads, with more Commonwealth of Virginia •Naval Support Activity Norfolk Northwest Annex hundred of the assessed value* than 19 million square feet of commercial space and more than 51,000 •U.S. Coast Guard Finance Center •America’s 50 Best Cities, Bloomberg Businessweek •Machinery and Tools (Manufacturers): $3.20 per hundred of the daytime employees. •U.S. Coast Guard Community Services Command •One of the Best Run Cities in America, 24/7 Wall Street assessed value* •U.S. Navy St. Julien’s Creek Annex South Norfolk (SoNo) - largest redevelopment project in the city’s history with •Top 100 Best Cities for Families, Parenting Magazine *Assessed value of Business Property and Machinery and Tools is 20% of original cost. a mix of high density residential neighborhoods, waterfront industrial activi- •U.S. Naval Auxiliary Landing Field Fentress ties, and the city’s most diverse demographics. •One of the Safest Cities in the U.S., FBI National Uniform Crime Report £State £Hampton Roads Western Branch •Top 100 Communities for Young People, Money Magazine •Corporate Income Tax: 6% (Last increase 1972) - retail anchor for Hampton Roads from the I-664 Corridor •Langley Air Force Base, Air Combat Command, Hampton, VA west. With an average household income exceeding $89,897, the Western •Recognition by IBM as a 2010 “Smarter City” for using technology •Personal Income: 2% - 5.75% •Fort Monroe, Army Training and Doctrine Command, Hampton, VA Branch area provides rich opportunities for living and shopping. to better serve the community •Retail Sales: 6% (5% State/1% Local) •U.S. Coast Guard, Commander Atlantic Area, Portsmouth, VA Great Bridge - home to Chesapeake’s municipal complex. As the site of the •One of seven cites nationally recognized for the Local Government •U.S. Coast Guard, Maintenance and Logistics Command Atlantic, Revolutionary War “Battle of Great Bridge,” the community is geographically Award Program: Harnessing the Power of Civic Media, The Public Utilities Portsmouth, VA dissected by the Intracoastal Waterway. Technology Institute •U.S. Navy, Commander Air Force, Atlantic Fleet, Norfolk, VA •Top 100 Most iPad Friendly Cities in the U.S., Men’s Health Magazine GAS SERVICE $4.00/meter + $0.155/CCF; •NATO, Allied Command Transformation, Norfolk, VA Deep Creek/Cavalier - a true “community within a community.” It is one of (Commercial & Industrial) $112.50 maximum per month the oldest, and largest, industrial centers in Hampton Roads, representing a •Unemployment rate has traditionally been below the national average successful integration of new planned development and historic preservation. Source: Hampton Roads Statistical Digest •One of the most highly educated workforces in the U.S. ELECTRIC SERVICE $2.87/meter + $0.0171/kWH; - 89.6% with a high school diploma or higher (Commercial) $112.50 maximum per month - 28.4% with a bachelor’s degree or higher ELECTRIC SERVICE $2.87/meter + $0.0251/kWH; Industries Real Estate •Retail sales more than $3 billion, boasting the highest per capita (Industrial) $112.50 maximum per month £Existing Industries retail spending in Hampton Roads •More than 353 square miles of land area, and plenty •Professional Business Services and Technology of space to meet your business needs •Within 750 miles and 1,200 kilometers of two-thirds of the •Healthcare •Nearly 6,500 acres zoned industrial nation’s population and industrial activity Business Licenses •Maritime, Logistics and Transportation •More than 25 million square feet of office and industrial space constructed •Part of the Intracoastal Waterway, stretching from Maine to Florida The Commissioner of Revenue assesses Chesapeake business license •Defense Technologies, Services and Support taxes on business activity conducted in Chesapeake. Most business •Twelve major industrial and commercial areas, including •Adjacent to the world’s largest natural harbor and the world’s license taxes are levied on the basis of gross receipts. The tax rate varies •Manufacturing and Construction established parks largest naval base •Leisure and Hospitality according to the business classification. Licenses expire at the end of each •More than 13 million square feet of retail space with two regional malls Source: Jobs EQ, Demographics Now, Money Magazine, Virginia Employment Commission, Men’s Health calendar year and must be renewed annually by March 1. •Knowledge Services Magazine, Parenting Magazine, FBI National Uniform Crime Report 2008, Bloomberg Businessweek, 24/7 Wall Street, ESRI £Retail •Retail Development Labor Force and Wages $50 fee if annual gross receipts are below $100,000. If annual gross £New Target Industries £Northernmost Right-to-Work State receipts are in excess of $100,000, 20 cents per $100 on all gross receipts. Demographic Comparison •Energy Products and Services •Among the lowest worker’s compensation
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