Throughout 2021, Chesapeake Economic Development awarded $2.8 Million in Small Business COVID-19 Recovery Grants to 484 companies, grew more than $390 Million in capital investments, and created 2,925 new jobs in the area. Recognized as one of the fastest-growing cities in the state, Chesapeake experienced huge economic growth this past year — resulting in 339 new business licenses as well as an exciting opportunity to develop the #1 Tier Five Site in Virginia (VEDP) — Three Oaks Industrial Park.