A well-known recreational area for several decades, Virginia Beach is a tourism mecca. Each year, more than two and a half million visitors stop by to enjoy the resort area and associated recreational activities. While pumping $78.4 million into the local economy through tourism expenditures, hospitality facilities generated more than 11,000 jobs for Virginia Beach area residents.

The City of Virginia Beach has seven active business corridors offering more than 27 million square feet of available space under roof. Light industrial firms use the bulk of the space, more than 12 million square feet. Commercial and retail development utilizes another nine million square feet. Office facilities round out the remainder with six million square feet.

Some of America’s largest corporations either call the Virginia Beach, Virginia area home or have facilities located in its metropolitan area. A few of these are Geico (insurance), AMERIGROUP (health care services), Stihl Inc. (power tools), Navy Exchange Service Command (retail services), and Sentara Medical Group (medical services).

The retail sector employs about 25 percent of the labor force in the Virginia Beach area, not surprising in an area known for its resort, recreational, and tourism venues. There are seven major retail areas in metropolitan Virginia Beach—several malls, the resort area, and the town center itself.

The Virginia Beach Convention Center hosts an average 20 trade exhibitions and conference each year, filling more than 60,000 hotel rooms. Approximately 38 percent of that comes from repeat business.

Virginia Beach’ Metropolitan Statistical Area includes 12 military installations representing all the major branches of the military. More than 32,000 military and civilian employees contribute in excess of $18 billion to the regional economy.
The area is also committed to preparing its young people to enter the workforce with the skills required to succeed in the modern economy. Preparation begins early with Ready to Learn, a program geared toward children from birth to age five. In later years, Workforce Readiness fosters the job skills that high school students need to enter the working world right after graduation. Workforce training or retraining initiatives are available to older residents who may be changing careers or reentering the workforce after a hiatus.

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