Accredited Economic Development Organization
Recognized by the International Economic Development Council, the Virginia Beach Economic Development is one of 50 Accredited Economic Development Organizations (AEDO) in North America. This recognition of professional excellence confirms our expertise and commitment to our economic development community, stakeholders, and clients.
The Virginia Beach Department of Economic Development is charged with expanding and diversifying the tax base and employment opportunities for the city through business development.
Specific objectives of the department include:
- Recruit national and international business to Virginia Beach
- Assist local businesses with expansion efforts
- Attract developers to identifies site opportunities
- Develop and support workforce training programs
- Help new businesses get established
- Recruit and assist minority business development
- Work with Naval Air Station Oceana to support compatible business locations
In addition, the Virginia Beach Department of Economic Development assists the business community by providing management, technical, and other resources. We can act on your behalf as liaisons with other city departments to streamline the planning, permitting, and zoning processes .
Through our department and our allies, various programs are available for small and startup firms, as well as women-and minority-owned companies of any size. Here are some ways the VBDED can assist:
Programs and services include:
- Site Selection
- Advocacy Services
- Market Information
- Financial Guidance
- Business Assistance
- Minority Business Council
- Workforce Development Services
- Ribbon-Cutting Assistance (if appropriate)
- Business Workshops and Other Networking Opportunities
- Fast-Track Project Review
Marketing and New Business Attraction
The VBDED promotes Virginia Beach as one of the best business locations through local, national and international events, activities and sponsorships. We conduct more than 75 outreach marketing events in the United States and around the world each year.
The Virginia Beach Department of Economic Development is a single point of contact for real estate information, demographic reports, incentives, and a variety of other research. Site location assistance is provided to domestic and international companies planning new or expanded facilities.
International Business Services
Global trade is increasingly important to the Virginia Beach economy, with more than 30 international companies operating significant business facilities here - thirteen from Germany alone.
Strategically located at the midpoint of the United State's East Coast and just three hours from Washington, D.C., Virginia Beach truly is an international gateway to America. Nearly two-thirds of the U.S. marketplace and manufacturing base are within 1,200 km of Virginia Beach. For more details, click here.
For additional information on programs and services provided by this department, call us at (757) 385-6464 or email us at email@example.com.
During fiscal year 2016-2017, the Virginia Beach Development Authority recorded the creation 1,548 new jobs and investment of more than $173 million by 42 projects. The City of Virginia Beach finished the year with a 3.7% unemployment rate, more than one-half percent below the national rate. Significant growth occurred among each of our target business sectors, with 95% of announced projects falling within at least one target sector.
Seven announcements were made by SWaM-certified businesses and five by international firms. Additionally, 20 incentive grants totaling $1.39 million helped leverage $53.23 million in new private investment, a ratio of 38 to 1.