the place

THE rEGION Located in the southeastern corner of Virginia, where the state meets the sea, the Virginia Beach Metropolitan Statistical Area (MSA) is the 34th largest in the United States, with a population of more than 1.65 million. The market encom-passes 16 cities and counties including the cities of Chesapeake, Hampton, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, and Williamsburg, and the counties of Gloucester, James City, Mathews, Isle of Wight, Surry, and York and the North Carolina county of Currituck.

THE CITyVirginia Beach is the most populous city in Virginia and the 42nd largest city in the United States, with approximately 440,000 residents. The city encom-passes 307 square miles:

Virginia Beach has a unique environment. Within minutes, residents and visitors have access to the popular oceanfront resort area, bountiful wildlife preserves and parks, vibrant financial districts, urban amenities, pastoral rural areas, distinctive cultural centers and museums, a variety of military facilities, and neighborhoods as diverse as the people who call this home.

NATIONAL DISTINCTIONS• Best Place to Live in America, USA Today Weekend magazine • Least Stressful City in the U.S., MSNBC report, Biz Journal Study• #2 in Best 100 Places to Raise a Family, Best Life magazine• Among America’s Most Literate Cities, Central Connecticut State Univ.• One of the Top Ten Communities among the 20 Best Places to Retire, Black Enterprise magazine • One of the Top Ten Most Technically Advanced Cities in the U.S., Center for Digital Government• One of the Top Ten Best Cities for the Outdoors, Forbes magazine• One of the Top Ten Fittest Cities in America, Men’s Health magazine

• One of the 100 Best Communities for Young People, America’s Promise National Forum• One of the Ten Best Cities in America, Money magazine

For more city distinctions, visit www.yesvirginiabeach.com

PrOUD HISTOryThe rich history of the city dates back 400 years, when the first English colo-nists ventured to the New World. On April 26, 1607, vessels Susan Constant, Godspeed and Discovery stopped at the mouth of the Chesapeake Bay. The colonists made their historic First Landing on the shore, erected a cross and named the spot Cape Henry, a popular Virginia Beach attraction today.

TEMPErATE CLIMATEBased on data from the Virginia Beach/Norfolk International Airport, the National Climatic Data Center reports, “The winters are usually mild, while the autumn and spring season usually are delightful. Summers, though warm and long, frequently are tempered by cool periods, often associated with northeasterly winds off the Atlantic. Winters pass on occasion without a measurable amount of snowfall. The geographic location…with respect to the principal storm tracks is especially favorable, being south of the average path of storms…and north of the usual tracks of hurricane and other tropical storms.”

Average 10 AM to 4 PM Air Temperatures:

January 41° F

April 58° F

July 79° F

October 62° F

Annual Averages

TEMPERATURE RAINFALL SNOWFALL

60° 45 7.3FAHRENHEIT INCHES INCHES

LAND

248SQUARE MILES (642 KM)

WATER

59SQUARE MILES (153 KM)

BEACHES*

38MILES*Atlantic Ocean and Chesapeake Bay

VIRGINIA BEACHCOMMUNITY PROFILE

the place • the people • the economy

QUALITy EDUCATION AND WOrKFOrCE DEVELOPMENTDevelopment of successful students and a quality workforce begins before kindergarten with an innovative early childhood program called Ready to Learn. Studies show the years between birth and five are critical to a child’s intellec-tual, physical, social and emotional development. Ready to Learn partners with families, schools, and the community to provide these children with high-quality educational environments and experiences.

Virginia Beach City Public Schools has built a high-quality school division focusing on educational rigor and expanded academic choices. The goal is to prepare all students to be successful as workers, citizens, and lifelong learners in this chal-lenging and rapidly changing global economy. Among the many academic choices provided to students are school-within-a-school Academy and Advanced Academ-ic programs. Students who successfully complete courses in Technical and Career Education are prepared to enter the workforce directly upon graduation. In school year 2007-08 more than 4,000 students earned industry credentials through their TCE courses.

Public K-12

Post-secondary education options abound in the Virginia Beach MSA, providing access to more than 93,000 students for part-time and full-time employment and more than 11,000 four-year graduates each year.

Colleges and Universities in the Virginia Beach MSA:

Schools Enrollment Christopher Newport University 4,884

The College of William and Mary 7,795

Eastern Virginia Medical School 736

Hampton University 5,156

Norfolk State University 6,155

Old Dominion University 22,287

Paul D. Camp Community College 1,544

Regent University 4,442

Thomas Nelson Community College 9,368

Tidewater Community College 25,857

Virginia Wesleyan College 1,433 Source: 2008 Hampton Roads Statistical Digest

Virginia Beach is committed to education and lifelong learning. The Virginia Beach Public Library has a collection of more than 1,000,000 items. The library system consists of a central library, eight area libraries, a bookmobile, a public law library, a municipal reference library, and special services for the blind and visually handi-capped.

Each year more than 13,000 personnel exit the military with many preferring to stay in the area and seek private sector employment. The education and training level of the exiting military personnel bring diverse and disciplined production, technical, managerial, computer and electronic skills to the labor force.

EXCITING ATTrACTIONSEach year millions of visitors flock to Virginia Beach to enjoy its famous three-mile boardwalk (named one of the top ten boardwalks by Sherman Travel), 35 miles of beaches and many exciting year-round attractions. For more information, visit www.vbfun.com.

The Virginia Aquarium & Marine Science Center features 700,000 gallons of aquar-iums, live animal habitats, hundreds of hands-on exhibits, outdoor aviary, nature trail and marshlands, and a 3D IMAX Theater screen six stories tall and eight stories wide. Opening in May 2009, Restless Planet, a 12,000-square-foot exhibit gallery, will explore modern habitats that illustrate what Virginia was like in its geologic past. For more information, visit www.virginiaaquarium.com

The Town Center of Virginia Beach features an eclectic mix of shopping, dining, entertainment, and living options covering 17 city blocks. Enjoy world-renowned performers at the San-dler Center for the Performing Arts, or free live entertainment and festivals in the plazas. Dine at a local eatery or a national restaurant. Shop at popular brand retailers and upscale bou-tiques or treat yourself to a night at the 4-star Westin Virginia Beach Town Center Hotel. For more information, visit www.vabeachtowncenter.com.

The Sandler Center for the Performing Arts, the region’s newest performing arts facility, hosts scores of world-renowned entertainers while providing a state-of-the-art home for the area’s finest performing arts organizations. Seating in the

1,300-seat performance hall is both generous and intimate, with the furthest seat only 100 feet from the stage. For more information, visit www.sandlercenter.com.

The Verizon Wireless Virginia Beach Amphitheater seats 20,000 and was recently nominated as one of the top venues in the United States.

Golf courses are plentiful in Virginia Beach. There are 11 top rated courses designed by such world famous course architects as Fred Couples, Arnold Palmer, and the legendary Pete Dye. These courses are sure to intrigue beginners and challenge the pros. For more information, visit www.vbfun.com.

Virginia Beach is home to 249 city parks and facilities encompassing 4,000 acres. In addition, First Landing State Park offers boating, swimming, hiking, biking, picnicking, and 19 miles of trails on 2,888 acres. The 4,321 acre False Cape State Park has six miles of unspoiled beaches and nine miles of hiking/biking trails. The Back Bay Refuge contains 9,000 acres with a wide assortment of wildlife, including threatened and endangered species such as loggerhead sea turtles, piping plovers, peregrine falcons, and bald eagles.

In addition, residents and visitors can visit a variety of historic attractions, including the Adam Thoroughgood House, Francis Land House, the Cape Henry Lighthouses and site of the First Landing.

GrEEN INITIATIVESGoing green is nothing new for Virginia Beach. The City’s Green Ribbon Committee has developed long-term, citywide initiatives to promote the importance of sustainable development and ecologically friendly practices throughout the com-munity. Green distinctions include:• Virginia’s First Green Destination, Commonwealth of Virginia• One of the Ten Greenest Places to Retire, U.S. News• A Tree City USA, Virginia Department of Forestry• Agricultural Reserve Program has preserved more than 5,000 acres • Open Space Acquisition program has preserved more than 1,800 acres valued at more than $40 million.• First Green Certified Convention Center in Virginia, Commonwealth of Virginia

LOCAL GOVErNMENTRecognized as one of the best managed and most innovative cities in the nation, Virginia Beach has a council-manager form of government. Seven seats of the 11-member council are filled by individuals who reside in the seven respective districts of the City. The four remaining “at large” seats do not carry district requirements. The Mayor is elected by popular vote and holds one of the four “at large” seats. For more information, visit www.vbgov.com.

SAFETyVirginia Beach is a safe place to live, work, visit and raise a family. According to FBI statistics, Virginia Beach has one of the lowest crime rates in the nation for a city of its size.

SCHOOLS/CENTERS TEACHERS ENROLLMENT

88 5,800 70,708

it’s not who you know. it’s where you live.“Virginia Beach is one of the top cities to live and launch a business.” Fortune Small Business Magazine

the people

POPULATION

Virginia Beach USA Median Age 35.91% 36.67% Male 48.84% 49.28% Female 51.16% 50.72% White 68.86% 72.72% African-American 19.96% 12.43% Asian/Pacific Islander 5.56% 4.54% American Indian or Alaskan Native .45% .92% Two or More Races 3.35% 2.82% Other 1.82% 6.56% Hispanic or Latino (of any race) 5.22% 15.24% Source: Claritas 2008

HOUSEHOLDS

INCOME Virginia Beach USA Median Household Income $62,948 $50,170 $100,000+ 22.01% 18.56% $75,000 - $99,999 15.48% 12.03% $50,000 - $74,999 24.00% 19.55% $25,000 - $49,999 26.03% 26.43% Under $24,999 11.97% 23.43% Source: Claritas 2008

EDUCATION LEVELS2008 Est. Population Age 25+ Education Virginia Beach USA Graduate Degree 8.76% 8.85% Bachelors Degree 19.21% 15.76% Associates Degree 7.61% 6.39% Some College (13-15) 29.06% 21.25% High School Grade or GED (12) 25.88% 28.39% Some high school (9-11) 7.06% 11.88% Less than 9th grade 2.41% 7.47% Source: Claritas 2008

# OF DWELLING UNITS

ESTIMATED HOUSEHOLDS

AVERAGE PERSONS PER HOUSE

173,603 681,191

163,403 327,873

2.67 2.66

VIRGINIA BEACH

VIRGINIA BEACH

VIRGINIA BEACH

MSA

MSA

MSA

Virginia Beach’s population was estimated to be 436,270 in 2008. The Virginia Beach MSA population is more than 1.65 million.

we have the most military decision makers outside of the pentagon.

(But that’s all we can tell you.)“Over 16,000 highly skilled people exit the Navy and join our workforce each year.”

Small Business Administration’s Office of Advocacy

the eCONOMYVirginia Beach is a great city for business. In addition to the incredible lifestyle as 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.

Because of its strategic Mid-Atlantic location, both foreign and domestic markets can be readily accessed through a superior transportation network, which includes an extensive railway system, an international airport, vast shipping terminals, the East Coast’s largest ice-free port, and an efficient and well-maintained highway system. The Virginia Beach MSA is an ideal location for international companies. This part of Virginia serves as the world’s gateway into the U.S., and our excellent telecommunications infastructure makes every county just a click away. More than 27 countries are represented in the region’s business community, and 12 have established consular offices here.

Plus, the Virginia Beach Department of Economic Development, named one of the ten best Economic Development offices in the nation by Site Selection magazine, offers support to businesses both large and small.

NATIONAL DISTINCTIONS• Virginia Beach MSA ranked #1 in the U.S. for high impact firms and for jobs and growth, The Small Business Administration’s Office of Advocacy• Second Top Major Market in the South, Southern Business & Development magazine• #3 in the Country for Most Educated Workforce, Business Facilities• One of the Top Economic Development Hot Spots, Expansion Management magazine and the National Policy Research Council• Among the nation’s Ten Best Cities to Get a Job, Forbes magazine• 14th out of the Top 100 Cities to Live and Launch a Business, Fortune Small Business• Virginia named America’s most business-friendly state, Polina Corporate Real Estate, Inc.

TArGET INDUSTrIESThe Virginia Beach Economic Development Department targets the following business sectors:

TAX rATESTogether, the Commonwealth of Virginia and the City of Virginia Beach have one of the fairest tax structures of the 50 states. Both businesses and individuals carry their share of the tax load, and the Commonweath has not raised its corporate income tax rate of 6% since 1972. In addition, Virginia’s unemployment insurance rates and workers’ compensation costs are among the lowest in the nation.

City Of Virginia Beach Tax Rates

OCCUPATIONAL MIXVirginia Beach has a well-balanced and healthy distribution of managerial, profes-sional, technical, manufacturing and clerical support personnel, working in a wide variety of businesses and industries.

Right-To-WorkVirginia is the northern-most state and one of the 21 states with a Right-To-Work law. The law prohibits a closed shop, where employers may hire only members of the contracting union, and also prohibits a union shop, where the employees who are not a member of a union must join after a certain period of employment and must remain a member as a condition of employment.

Occupations: Employed Virginia Beach USA Civilians (Age 16 and up) Management, Business & Financial 14.06% 13.74%

Professional & Related Occupations 22.06% 20.27%

Sales and Office 30.01% 26.74%

Production & Transportation 8.95% 14.40%

Service 14.83% 14.63%

Construction & Maintenance 9.97% 9.49%

Farming, Forestry & Fishing .13% .74%

DEFENSE CONTRACTORS

MANAGEMENT OF COMPANIES AND CORPORATIONS

HEALTHCARE AND BIOMEDICAL

HIGH-PERFORMANCE MANUFACTURING

SCIENCE AND ENGINEERING

CONSTRUCTION

INFORMATION SERVICES

REAL ESTATE

PERSONAL PROPERTY

$0.89

$3.70

PER $100 ASSESSED VALUE*

*Fiscal Year 2008-2009

PER $100 ASSESSED VALUE

MACHINERY & TOOLS

$1.00PER $100 ASSESSED VALUE33% OF ORIGINAL COST (MANUFACTURERS)

BUSINESS PROPERTY

$3.70PER $100 ASSESSED VALUE40% OF ORIGINAL COST (TANGIBLE PROPERTY)

MINOrITy bUSINESS DEVELOPMENTVirginia Beach is an ethnically diverse city and strives to make its business land-scape reflect that.

The Department of Economic Development has intensified its focus on developing Small, Women and Minority-owned businesses by providing assistance and opportu-nities to help these businesses flourish and achieve their goals.

The Virginia Beach Minority Business Council assists the City to increase participa-tion of Minority-owned, Woman-owned and Small businesses in the procurement process and to assure that opportunities are made available to all persons regard-less of race, religion, color, sex, national origin, or disability.

TOWN CENTErThe Town Center of Virginia Beach is the heart of a mixed-use, urban development within the City’s Central Business District. It is the home of entertainment, cul-tural, business and retail activities. The Town Center will eventually span 25 acres and 17 city blocks and will include 800,000 square feet of Class A office space, 832,500 sq. ft. of multi-level upscale retail space, a 4-star hotel and conference center, luxury apartments and condominiums, fine dining and a variety of urban amenities.

ECONOMIC SECTOrSBusiness and IndustryVirginia Beach has a variety of office, industrial, and commercial property encom-passing almost 35 million square feet of total enclosed space. A diversified economy based on a blend of professional office manufacturers and advanced technologies helps keep Virginia Beach a recognized international business location.

MilitaryThe Virginia Beach MSA is home to 12 major military installations representing all branches of the U.S. Armed Forces, including the world’s largest naval base and the home of the Atlantic Fleet. The bases located in Virginia Beach are Naval Air Station (NAS) Oceana, Naval Surface Warfare Center Dam Neck, Naval Amphibious Base Little Creek and Fort Story. These bases employ more than 32,000 military and civilian employees with a combined annual payroll of more than $1.8 billion.

Convention Center and Trade ShowsThe Virginia Beach Convention Center completely opened in January 2007, unveil-ing more than 500,000 square feet. This includes a 31,000-square-foot ballroom with LED lighting, a 150,000-square-foot column-free exhibit hall, 38,929 square feet of meeting space and 2,230 free parking spaces.

As of June 2008, 167 conventions and meetings have been booked from July 2005 – 2013 with more than 516,572 hotel room nights, and 38% is new business.

TourismIn 2007, 2.73 million overnight visitors arrived in Virginia Beach. The economic im-pact (excluding indirect and induced effects) of the Virginia Beach tourism industry saw a 4% increase in visitor spending, or approximately $889.9 million during their stay for accommodations, meals, entertainment and other services. In addition, more than 11,000 jobs were created in Virginia Beach, and visitor expenditures generated $78.4 million in direct city revenue.

Retail and Wholesale TradeAbout 25% of the Virginia Beach labor force is employed in retail and wholesale.

At more than 1.35 million square feet, Lynnhaven Mall is the largest shopping mall in southern Virginia. It offers visitors an enormous selection of shopping, dining and entertainment options with more than 180 stores, 17 restaurants and eater-ies, and a state-of-the-art AMC Theatres, and free parking.

Pembroke Mall is conveniently located in the Central Business District. It features three major department stores, more than 100 specialty shops, restaurants, a Regal Theater, and free parking.

Other major retail areas include Hilltop, Red Mill Commons, Landstown Com-mons, the resort area and the Town Center of Virginia Beach.

AgribusinessAgribusiness contributes significantly to the City’s overall economy. The econom-ic impact of the agricultural community is estimated at more than $102.7 million, based on product valued at approximately $32 million. There are 172 farms in the City, resulting in approximately 27,000 acres of land under cultivation.

Construction and Real EstateIn 2007, Virginia Beach approved permits for the construction of 821 single-family units, 69 duplex units and 99 multi-family units for a total of 989 residential units. In addition, permits were issued for 7,132 residential additions/alterations, one ho-tel, six industrial buildings, 43 offices, four stores, two hospitals and two schools. The total value of these building permits was $613,193,142.

COMPANIESThe following is a list of companies representative of Virginia Beach’s business base.

Name Product/Service Approx. # of EmployeesADS Inc. Defense Contractor 350

AECOM Architect & Design 110

Allied Technology Group, Inc. Defense Contractor 350

AMERIGROUP Healthcare Services 2,100

AMSEC LLC Engineering and Computer Services 500

Architectural Graphics, Inc. Sign Manufacturer 160

Armada Hoffler Developer and General Contractor 130

Bay Mechanical, Inc. General Mechanical Contractor & Manufacturer 225

CMSS Architects Architects 75

Coastal Training Technologies Corp. Training Development 200

DOMA Technologies LLC Information Technology 160

GEICO Insurance 2,200

IMS Gear Manufacturer of Gears 60

IssueTrak Inc Software Development 35

Knowledge Information Solutions, Inc. Information Technology 100

LifeNet Health Biomedical 500

Morphix Technologies Security Technology 38

MSA, P.C. Engineering Services 80

NGK-Locke, Inc. Manufacturer of Polymer Insulators 150

Navy Exchange Service Command Retail Management 1,800

Oceana Sensor Technologies, Inc. Manufacturer of Electronic Sensors 30

PROSOFT Information Technology 200

Sentara Medical Group Health Services 4,646

Skanska USA Civil Southeast Industrial Construction 120

STIHL Incorporated Manufacturer of Power Tools 1,800

VT Milcom Defense Contractor 280

Whitney, Bradley & Brown, Inc. Management Services 30

222 Central Park Ave, Suite 1000Virginia Beach, Virginia 23462

757-385-6464 | 800-989-4567 | Fax 757-499-9894YesVirginiaBeach.com | Email ecdev@vbgov.com

For more information on the Virginia Beach economy, visit www.yesvirginiabeach.com. For more information on the regional economy visit www.HREDA.com

VB203.3/09.8k

William D. Sessoms, Jr. – MayorLouis R. Jones – Vice Mayor – BaysideGlenn R. Davis – Rose HallBill R. DeSteph – At LargeHarry E. Diezel – KempsvilleBob Dyer – Centerville

Barbara M. Henley – Princess AnneJohn E. Uhrin – BeachRon A. Villanueva – At LargeJames L. Wood – LynnhavenRosemary Wilson – At Large

James K. Spore – City Manager

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VIRGINIA

500 Spherical Miles804.5 Spherical km

750 Spherical Miles1206.7 Spherical km

1000 Spherical Miles1809 Spherical km