Cost of Living
An affordable cost of living makes it easier to attract good people and retain them when your company is located in that area. Employees’ paychecks will stretch farther in Norfolk than in many other parts of the country. As a result, you can offer wages that are competitive, but hold down labor costs compared to other parts of the country, making your company more competive on a global scale.
|Here’s how the Hampton Roads MSA compares to other MSAs|
Source: Council for Community and Economic Research, Cost of Living Index May 2013