TARGET INDUSTRIES
Chesapeake, VA, continues to build expertise across multiple industry sectors. We are focused and work daily in collaboration with regional partners, community leaders and residents to cultivate these key industries.
LOGISTICS AND SUPPLY CHAIN MANAGEMENT
Chesapeake is in the perfect location to take advantage of the opportunities in Logistics and Supply Chain Management. The existing logistics and distributing industry in the region is flourishing for good reason. The transportation assets of the region are evident – the port, the road system, and the access to airports. Chesapeake’s location is also in the center of the Eastern seaboard with access to a large population. Additionally, Chesapeake and the surrounding region have a skilled workforce for this cluster, as well as the educational programs feeding the industry. The logistics and supply chain management industry are broad, including freight forwarding, maritime, warehousing, wholesaling, e‐commerce, and supply chain planning segments.
DEFENSE AND SECURITY TECHNOLOGIES
There is great potential for the Defense and Security Technologies industry in Chesapeake, with focus on traditional segments, as well as, developing technologies such as unmanned aerial vehicles, robotics, and biometrics. The military presence and the large pool of skilled technology workers available in Chesapeake support growing and expanding companies in this industry. The educational assets and talent pool in the city of Chesapeake also aid this growing industry. The defense and security technologies industry can include search and navigation instruments, aerospace, communications equipment, shipbuilding, cybersecurity, and other related areas.
ADVANCED MANUFACTURING
The Advanced Manufacturing industry will benefit from the deep transportation network in Chesapeake, as well as, the available skilled workforce and the affordable industrial power rates. This cluster will support the construction, transportation, aviation, and shipbuilding industries in the area, as well as, production technology that serves many other industries. The advanced manufacturing industry includes fabricated metal production like stamping, forging, hardware, machine shops, and metal plating. The machinery segments include construction machinery, metalworking machinery, engine, and turbine manufacturing, and many other machinery applications.
PROFESSIONAL BUSINESS SERVICES
Professional Business Services, from banking and insurance to management consulting and software, will find a good home in Chesapeake. A highly educated workforce is available for these office‐based industries, augmented each year by exiting military personnel, military spouses, and graduating students. Additionally, Chesapeake offers reasonably priced office space and a favorable state corporate income tax rate, currently at the same as it has been since 1974 at 6%. Such segments as data centers, credit card processing, loan administration, portfolio management, insurance claims adjusting, payroll services, accounting services, architectural and engineering services, and others have experienced recent growth and will continue to grow and expand into the future.
HEALTHCARE TECHNOLOGIES AND SERVICES
Healthcare needs will grow on all fronts well into the future. The presence of this industry and local educational assets such as the Eastern Virginia Medical School and the Norfolk State University School of Nursing, supply a talent pool to support this growth. The exiting military personnel, military spouses, and graduating students will also feed into the needed healthcare industry workforce. Healthcare services must continue to locate in the area to support the population’s needs. The healthcare technologies and services industry can include pharmaceuticals, medical devices, laboratory services, outpatient centers, as well as, research and development.
