Norfolk is a city of plans.

 

 

A quick snapshot of business activity from the past two years shows $1 billion dollars of investments in projects complete, under development or announced. Included in this are Dominion Enterprise’s $60 million dollar corporate headquarters, Air Wisconsin’s $31 million dollar maintenance and flight crew headquarters, Sentara’s $100 million dollar heart hospital and U. S. Gypsum’s $132 million dollar expansion.

 

The Norfolk Southern Corporation turned in another solid performance last year, besting its record breaking year in 2005, and congratulations go to its new CEO and board chairman Wick Moorman for a great first year.

 

More evidence that the Norfolk formula is working across the city can be seen in our business parks.

 

Lake Wright Executive Center and Commerce Park are built out and have brought many new businesses and thousands of jobs to the city.

 

At Central Business Park, adjacent to the new Wal-Mart SuperCenter at Tidewater Drive and Little Creek Road, business is great. This 33 acre development now has seven buildings open or under construction, offering over 200,000 square feet of space.       

 

Of particular note was the recent announcement by Northrop Grumman that they will be leasing over 14,500 square feet at the Taylor Executive Center. This year three more buildings will begin development, and we are holding three acres for additional minority investment there.

 

Norfolk’s business park developments have been so successful that more space is needed.  To accommodate this, the city is completing a master plan for Lake Wright East – a 20 acre parcel of land between USAA’s regional headquarters and I-64.  Strategically located, it will generate over $2 million in taxes annually for the city when built out.

Commander Corporate Center, new home to BlackHawk Products Group, is under development adjacent to the Norfolk International Airport and will feature in addition to their headquarters, an 84,000 SF Class A office tower for lease. The complex is located in a HUBZone that provides federal contracting advantages.

 

A sampling of our business and industry included:

Landmark Communications Inc. publisher of The Virginian Pilot and numerous other newspapers, printer and owner of television channel, The Weather Channel and more as a privately-owned company in Norfolk since 1865 and employs approximately 1700.

Norfolk Shipbuilding & Drydock Corporation is a shipbuilder and ship repairer, employs 850 and has been a privately-owned and operated company in Norfolk since 1915.

General Foam Plastics Corporation manufacturers Christmas trees, holiday products, swimming pools, garden ponds, is privately-owned and operated in Norfolk since 1958.

Blackhawk Industries, a manufacturer of special operations equipment for the military and law enforcement, opened its Norfolk headquarters in the Industrial Park in July, 2002.