Existing Business Support

We help create a vibrant economy, which benefits the city, by attracting new companies, helping existing companies grow, and assisting entrepreneurs with their nascent ideas.

The business community in Virginia Beach is comprised of a highly diverse collection of industries, including nationally and internationally known corporate headquarters, defense contractors, high-performance manufacturers, and locally owned establishments. Every business, from large corporations employing hundreds of people to startups and small businesses that employ only a few, makes a unique contribution to our dynamic and growing economy.

49% of business establishments have been in existence for more than ten years (2018 Census data)
50% of the fastest-growing firms in the MSA are based in Virginia Beach (2020 Virginia Chamber of Commerce)

3 of the 50 fastest-growing firms in the State are based in Virginia Beach (2020 Virginia Chamber of Commerce)
IMS: Gear's Virginia Beach Facility


Retention, Expansion, and Assistance Program

T​​he purpose of the retention, expansion, and assistance program is to promote, retain and expedite the profitable growth of targeted existing businesses.

The Virginia Beach Department of Economic Development exists to assist our business community in maximizing its economic potential.

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Here are some ways we can assist with your expansion needs:

  • Advocacy Services
  • Business Assistance​/Retention
  • Business Workshops and Other Networking Opportunities
  • Fast-Track Project Review​
  • Financial Guidance
  • Market Information​
  • Research Assistance
  • Ribbon-​Cutting Assistance (if appropriate)​
  • Site Selection/Expansion Assistance
  • Small Business Assistance
  • Small Business Resource Center - HIVE
  • Workforce Development Services

Need more information on Virginia Beach or locating, expanding, or starting your business here? If so, our experienced Business Development team​ is ready to provide one-on-one assistance to meet your business needs or offer other useful resources to make your relocation or expansion projects as effortless as possible. ​Most importantly, our services are free of charge, and business inquiries remain strictly confidential. This diagram summarizes our process.