Chesapeake, Va. half a Century and full speed ahead. ANNUAL REPORT 2013 City of Chesapeake Economic Development Department 676 Independence Parkway, Suite 200, Chesapeake, Virginia 23320 Tel: 757.382.8040 Fax: 757.382.8050 www.chesapeakeva.biz [email protected] This year marks the 50th anniversary of the founding of Chesapeake, and it’s appropriate to reflect on how far we’ve come in the last five decades. When Chesapeake was formed in 1963 by the merger of South Norfolk and Norfolk County, our new city had a population of 78,000. Today, more than 230,000 people call Chesapeake home, and we are Virginia’s third largest city. As a testament to our collective successes, Bloomberg Businessweek named Chesapeake one of America’s 50 Best Cities in 2012 and 24/7 Wall St. “Since we work with organizations all around the country, we could has just named Chesapeake one of America’s headquarter our firm just about Best-Managed Cities. anywhere. The City of Chesapeake In 2012, we attracted more than $204 million has repeatedly proven their commitment to Web Teks by in business investment and saw our employment supporting and retaining our rise correspondingly by 1,152. business and others like us. We But in Chesapeake, we don’t rest on our have the comfort of knowing that our city leadership is much more laurels, and continue building foundations for than government, they are our healthy growth. partners. The choice to remain in In October, Figg Bridge Builders opened the Chesapeake is easy.” privately funded South Norfolk Jordan Bridge, Tom Walker, President and Dyanne Walker, Founder & CEO, Web Teks, Inc., a mile-long span designed to carry pedestrians, commuters and commercial transportation, “The collaboration within which cost $140 million to build. In the Chesapeake Economic Development Department creates November, Chesapeake closed the deal on a an environment for business $345 million package to start the construction growth and sustainability. The welcome of a new Dominion Boulevard bridge, and we relationship between community and business is paramount to are tantalizingly close to announcing first steps success because it is the lifeblood for another significant improvement to our of any business doing business city’s infrastructure. in any city. My business partner, Robert Taborn, and I choose These and many other successes are the direct the city of Chesapeake because result of the dedication and hard work of those who we believe no other city does it led the way fifty years ago, and those who continue better.” working to keep Chesapeake at the forefront. Wesley Jones, COO/Executive VP, Crewestone Technologies, Inc. In short, we believe in ourselves and our economic vitality, and that faith has paid off. Now it’s your turn to join us as we begin a new chapter in Chesapeake’s history. Mayor Alan P. Krasnoff Event Timeline ✂ ✂ ✂ ✂ 01/07/12 02/08/12 02/20/12 02/28/12 03/01/12 Superior Quality Manufacturing, LLC CTDI Grand Opening Tidewater Community College MCO Transport Opening Federal Equipment Company (INIT/SimTech Joint Venture) Groundbreaking Expands to Chesapeake New Facility Ribbon Cutting Investment in Chesapeake soared nearly 25 percent from$163.7 million in 2011 to more than $204 million in 2012. And with that investment came 1,152 new jobs, including 134 in the retail sector. More than $157.8 million of that 2012 activity was a result of new investment, while $46.2 million reflected reinvestment in Chesapeake by existing businesses and organizations. Renewed leases from40 companies in 2012 totaled nearly $8 million in value and represented 446 saved jobs. “Fifteen years ago Dollar Tree The 2012 economic impact of many individual selected Chesapeake as the site Chesapeake businesses was significant, with many for its Corporate Headquarters. companies making substantial capital investments With its central location and access to a skilled workforce, there and creating new jobs. was no better place for Dollar Tree to put down roots and grow. Today, Dollar Tree is a Fortune 500 Capital One invested $11.9 million • Chesapeake Controls Company with more than 4,600 invested $1 million and added five jobs • Chesapeake Eye locations! We are proud to be a Chesapeake Company and look Care and Laser Center added 13 jobs • East Coast Valve forward to the next 15 years!” Bob Sasser, President and CEO, Services created 10 jobs • Enviva Port of Chesapeake Dollar Tree, Inc. invested $7.8 million • Great Bridge Garment Care invested $1.9 million and added five jobs • IBS invested $1.3 million and added 10 jobs • Knell’s Ridge Exterior Renovation & Purchase invested $1.8 million • MCO Transport added 25 jobs • Nitto Denko Automotive created 66 jobs • Perdue AgriBusiness invested $3.2 million • SucceSS SunTrust Bank invested $3.1 million • Sutherland Global Services invested $6.9 million and created 400 new jobs • Swift Air Logistics created 15 jobs • Tractor Supply Company invested $2.3 million • The Walsh Group invested $133.9 million with the construction of the FBI regional headquarters and created 100 jobs • Xerox created 450 jobs. Photo credit: Van White Event Timeline ✂ ✂ 2 2 03/7/12 04/18/12 04/23/12 05/11/12 05/18/12 05/18/12 Great Bridge CARE Walsh/FBI Facility Groundbreaking Signs By Tomorrow East Coast Equipment Cox Communications Selected Perdue AgriBusiness, Inc Groundbreaking Ribbon Cutting Ribbon Cutting as 2012 Business of the Year Selected as 2012 Waterfront Business of the Year Jordan’s Mile-Long Span Speeds Access for Commerce and Commuters The 169-foot-high South Norfolk Jordan Bridge spans the Elizabeth River without a drawbridge and connects Chesapeake and Portsmouth between I-264 and I-64. The new bridge, which opened in October, is a private facility, fully funded by investors rather than taxpayers. It replaces an 80-year-old drawbridge that was closed in November 2008. The South Norfolk Jordan Bridge is the highest bridge in Hampton Roads and the first bridge in the Commonwealth to implement the open-road Cox Communications: Leadership electronic video collection system (E-Z Pass) that and Partnership eliminates the need for tollbooths and the travel In recognition of the major impact delays tollbooths usually create. of Cox Communications to the Chesapeake is taking other steps to further community, the Chesapeake Economic Development strengthen its infrastructure. Department named Cox as a 2012 In December, the city held the groundbreaking Chesapeake Business of the Year. for a new 95-foot-high, fixed-span, four-lane In announcing the 2012 award, the Chesapeake Dominion Boulevard bridge. It will replace the Economic Development current two-lane Steel Bridge, which was built in Department noted that in 2011, 1962, a year before Chesapeake was incorporated. Cox helped Chesapeake add another job-generator when Maintaining excellent bridges, roads, ports one of its business partners, and airports is vital, but infrastructure is more Communications Test Design, than concrete and steel. Today it also encompasses Inc., moved into 72,000 square feet of leased space at the Indian the communications systems and technological River Distribution Center. A joint capabilities that drive the global marketplace. venture for the two companies, the new enterprise represents The Chesapeake Technology Business a $4 million investment and 50 Consortium (CTBC), comprised of more than new jobs over a three-year period. two dozen local technology companies, formed In addition to serving as a ConneCt catalyst for new business growth, in 2012 to organize and encourage technology Cox takes its responsibilities education, and promote partnerships to support seriously as a corporate citizen. and grow this sector. The group is working with In 2012, the company donated approximately $4.7 million in the city toward each of these goals and laying the cash and in-kind services to the groundwork for future high-tech development in Hampton Roads community. the region. Since 1997, the communications giant has One success in its first year was the start of a made Chesapeake its regional summer camp for high school students focused on headquarters, serving customers from the Cox Customer Care mobile apps; the camp returns in 2013 along with Center located in Chesapeake’s a web development camp. Consortium member Greenbrier Business District. And companies also serve as technology internship sites with more than 1,500 employees in the Hampton Roads area, Cox is for local community college students. one of the city’s top 10 employers. “The CTBC members are companies that are doing this because we see the need and are willing to give back,” said Dan Bell, who heads the consortium. “It’s good for business. It’s good for the kids, and it’s good for the city.” Photo credit: South Norfolk Jordan Bridge Event Timeline 2 2 2 2 2 ✂ 05/19/12 05/22/12 05/22/12 05/22/12 05/23/12 06/06/12 Carolina Cupcakery Selected Phoenix Group Chosen as Accelerated Financial Services ZZ Servers Named to Top Ten Roger’s Banana Pudding Sign A Rama Ribbon Cutting as 2012 Retailer of the Year 2012 Chesapeake Small Chosen as 2012 Young to Watch List by the Hampton Wins National Small Business Business of the Year Entrepreneur Award Roads Chamber of Commerce Week Video Contest Sumitomo Manufacturing Investments Create New Jobs in Chesapeake In the first phase of a $12 million investment, the U.S. headquarters for Sumitomo Machinery Corporation of America (SMA), based in Chesapeake since 1988, is boosting its already substantial presence in Chesapeake. Sumitomo recently purchased three specialized Gleason gear machines to increase manufacturing capabilities at the Cavalier Industrial Park location in Chesapeake. By 2015, Sumitomo’s 250,000-square-foot Chesapeake facility will transform from an Walsh Builds New FBI HQ assembly/distribution center into an assembly/ at Oakbrooke Business and Technology Center manufacturing plant.