OFFICE BUILDING FOR LEASE CORPOR ATE CENTER V 4425 Corporation Lane, Virginia Beach, Virginia • The Port of Virginia is the 6th largest port in the United States by total trade, and it’s the 3rd largest port on the East Coast • The port serves 16 Midwest and Southeast inland points by rail. Upon completion in 2020, the port will increase capacity 40%, adding the
6 TH Largest Port In The U.S.
$1.2B InvestedIn Port- Related Economic Development
capacity for one million containers annually • The port is the only East Coast port with Congressional authorization to dredge to 55 feet offering direct service to 25+ countries worldwide • Over $1.6 billion of total merchandise is received in the Port of Virginia’s Foreign Trade Zone 20 annually • Foreign Trade Zone 20 companies produced over $430 million in exports annually • With its exceptional location, the port provides access to 75% of the U.S. population within a two days drive • The region also enjoys access to two Class I railroads with double-stacked container capabilities allowing distribution throughout the East Coast and Mid-West • The Port of Virginia disperses $1 million annually for Aid to local ports • $1.2 billion invested in port-related economic development in 2018 • $6.95 million available in Virginia Port incentives each year • Over 4 million sf of land available within close proximity for warehouse and distribution development • The Virginia inland Port has generated investments totaling more than $900 million
HAMPTON ROADS OVERVIEW
DEFENSE
SHIPPING
TECHNOLOGY
RESEARCH
The region’s strategic location on the East Coast has fostered a maritime economy centered around the defense,shipping, and tourismindustries.Witha largefederalmilitarypresence, the Department of Defense direct spending in Hampton Roads contributes to an estimated 40% of Hampton Roads’ GDP. Increasing activity in the Port of Virginia has also helped to sustain nearly 10% of the entire state of Virginia’s workforce that have port-related jobs, while the more than 2,500 miles of shoreline and historicalsitesprovide the backbone to a burgeoning tourismindustry. The Port of Virginia is the fastest growing port on the East Coastand boasts the largest natural deep-water harbor on earth. Every major shipping line in the world calls on the Port of Virginia, providing direct access to over 80 ports worldwide, and 9.4% of the state’s entire resident workforce have port-related jobs. In addition to the 50-foot-deep channels, the port is only 18 miles from open ocean and enjoys a mild climatethat allows year-round shipping. Coupled with the largest and fastest container cranes on the planet, the rapid pace that seems to break records practically every month in TEU volume, shows no signs of slowing down. CABLES ANCHORED IN VIRGINIA BEACH In the 1850’s, twisted-pair copper lines were laid underwater to provide telegraph communication between continents. The types of cables and data they carry has evolved over time, and fiber optics is now at the forefront of digital communications, providing reliable signal at extreme capacity. Transatlantic fiber cables can now carry digital traffic from other continents to Virginia Beach, traveling thousands of miles from digital ports in South America, Europe, and soon Africa. Facebook and Microsoft, in conjunction with Spanish-based Telefonica, laid the first ever subsea cable (MAREA) to Virginia Beach with a 4,000-mile fiber connection to Bilbao, Spain. Telefonica also installed a second cable (BRUSA), which is 6,800 miles long and connects Brazil to Virginia Beach. The latest project includes an 8,000-mile cable between Cape Town, South Africa and Virginia Beach. As 72% of the world’s data center traffic goes through Ashburn, Virginia, these undersea telecommunications cables are key strands in the ever-expanding internet.
BIOMEDICAL AND LIFE SCIENCES Many of Virginia’s more than 600 biomedical and life science companies are located in the Hampton Roads MSA. The biomedical/life sciences cluster is driven by direct and easy access to such resources as Eastern Virginia Medical School, Sentara Health, Bon Secours Health System, Children’s Hospital of the Kings’ Daughters, LifeNet Health and its Center for Regenerative Medicine, and the global headquarters of Operation Smile. The industry is supported by research and academic institutions, including NASA Langley Research Center, Thomas Jefferson National Accelerator Facility, Old Dominion University, Hampton University, and Tidewater Community College.
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