Bio & Life Sciences
Bio & Life Sciences
Virginia Beach Offers an Environment Where Bio & Life Sciences Companies Can Thrive
Virginia Beach serves as a vibrant hub for both established and emergent companies in the bio and life sciences sector. The City’s strategic location on the U.S. East Coast, talent pipeline, bio networks/industry associations, capital access, incentive programs, and commitment to innovation are what makes Virginia Beach a natural “fit” for this industry.
The City of Virginia Beach is situated between two major life science clusters: the Research Triangle Park of North Carolina and the BioHealth Capital Region, which encompasses the Washington, D.C. metropolitan area. Given the City’s proximity to these bio hubs, a number of companies in this industry choose Virginia Beach for their business so they can benefit from the advantages that these large clusters provide and get the perks of operating in a smaller community.
Why Virginia Beach?
The benefits of establishing a business in Virginia Beach go well beyond its strategic location and proximity to other bio hubs. The City promotes an entrepreneurial ecosystem that fuels and facilitates innovation in addition to partnering with established companies such as Sentara Healthcare and LifeNet Health to drive advances in healthcare.
Virginia Beach represents an opportunity to join a budding bio and life sciences cluster with promising growth opportunities and competitive advantages that are difficult or impossible to find in other bio hubs.
City leadership supports the development of a bio cluster in Virginia Beach and provides resources to the private sector that facilitate market entry and success.
Higher Education & Research Institutions
More than 21,000 people are currently employed in the life sciences field in Virginia Beach (Source: VEC Community Profile 2020). The City also has a wealth of talent at its fingertips with local academic and research institutions that continue to produce highly qualified graduates every year.
Talent Attraction & Retention
Given the stiff recruiting market and low unemployment rate, factors like quality of life can make a significant impact on a company’s ability to attract and retain a skilled workforce. Virginia Beach has natural assets and a long list of advantages that makes talent acquisition easier for employers.
Did you know that Virginia Beach is regularly recognized as one of the best places to live in the United States? Learn more about our quality of life.
Virginia Beach: a Magnet for All Kinds of Biotech
Biotechnology is a broad, interdisciplinary field with many sub-sectors. Virginia Beach appeals to a variety of biotech firms and often attracts those in one of the four following sub-sectors, due to the unique assets found in our community.
Companies that apply the principles of biotechnology to agricultural uses to make horticultural, aquacultural, and agricultural methods more efficient and profitable.
Agriculture is the third-largest industry in Virginia Beach, generating $134 million in economic impact annually. BioAg has received a lot of attention in recent years, as local farmers seek to diversify. Virginia Tech, a leading research institution in the Commonwealth, represents an outstanding information resource for local growers. Through the Hampton Roads Agricultural Research and Extension Center, Virginia Tech provides graduate training of the highest quality for students in horticulture and related plant sciences.
Medical Device Manufacturing
Companies that use medical technology in the research, development, production, and marketing of systems and devices for medical applications.
Virginia Beach has an established manufacturing base mainly due to its strategic location on the U.S. East Coast and its proximity to The Port of Virginia. Situated in a key logistics hub, and within a Foreign Trade Zone, the City is well-positioned to serve manufacturers looking to import, export, or ship their goods domestically and internationally. More than 25% of the region’s manufacturers are located in the City of Virginia Beach (Source: BLS 2nd Qtr 2020), a number of them producing medical devices and equipment.
Companies that use biotechnology to discover, develop, and produce components of cosmetic formulations to minimize the impact on the environment.
Cosmetics companies who wish to enter the U.S. market often find it daunting as laws and regulations tend to differ significantly from those of their home country. The City of Virginia Beach provides extraordinary service to newcomers, helping them alleviate compliance concerns by making the necessary introductions to industry specialists and helping them navigate the reality of doing business in the U.S. Additionally, Virginia Beach is relatively close to Washington, D.C. and therefore in close proximity to key federal agencies (NIH, DARPA, FDA, and NSF) which is also an advantage to companies in this sub-sector.
Companies that focus on integrating technology into healthcare to enhance patient care, improve healthcare access, and offer new insights into real-world applications.
Healthcare is a key economic driver for Virginia Beach. The City is home to a number of hospitals and medical facilities, including Sentara Healthcare, which hires more than 30,000 employees throughout the region. With the growing need for medical wearables, as well as innovation in sharing or accessing healthcare data, Virginia Beach is a great market for companies that focus on developing digital health products. The new ultra-high bandwidth subsea data cables coming ashore in the City also represent an asset for this sub-sector.
VABEACHBIO – Our Local Bio Accelerator
The City of Virginia Beach opened its very own bio accelerator in the summer of 2021 which features wet/dry lab space with BSL-2 capability along with office space and conference rooms. Its business development programming includes mentoring and networking opportunities, as well as an introduction to capital and incentives programs. Learn more here.
Additional Benefits to Bio & Life Sciences Companies
Did you know that members of our bio accelerator program also get access to several bio networks? The Virginia Beach Department of Economic Development works in collaboration with the following industry associations: