Business Data w/fastfacts

Business Data Downloads

  • Demographics fact sheet
  • Largest employers, labor force, unemployment rate
  • Corporate headquarters

Fast Facts

The Norfolk MSA has a population of 1.66 million, experiencing a 5.2% growth since 2000. It has a larger population than Richmond, Charlotte, Raleigh, New Orleans, and Jacksonville MSAs.
Source: U.S. Census Bureau.Census 2000 and American Community Survey.

The Norfolk MSA’s population is projected to reach 1.8 million by 2010 — a 5% increase.
Source: U. S. Census Bureau, Census 2000 and Virginia Employment Commission


More than 3.4 million people and nearly 1.4 million households within a 100-mile radius of Downtown Norfolk.
Source: Decision Data Resources, 2007 Estimate

Within a 45-minute drive of Downtown Norfolk, there are 600,000 households. Over half of these have an annual household income of over $50,000 and 30% earn over $75,000 annually.   
Source: Decision Data Resources, 2007 Estimate


2012 projections show that the number of Norfolk MSA households will increase by 13% and the number of households with incomes over $50,000 will increase by 57%.
Source: Decision Data Resources

The Norfolk MSA is a $18.5 billion retail market.
Source: “Taxable Sales by Locality, by Business Category, Calendar Year 2007” Virginia Department of Taxation


The Norfolk MSA ranked 1st among the South markets and 2nd among the 50 selected U.S. markets in positive gains for January 2004 Department Store Sales.
Source:  International Council of Shopping Centers

The Norfolk MSA was one of the fifty fastest growing retail markets by metropolitan area between 1998 and 2003.
Source:  International Council of Shopping Centers

Norfolk MSA per capita personal income increased from $27,767 in 2001 to $34,858 in 2006, a 25.5% increase.
Source: Bureau of Economic Analysis.

Downtown Norfolk median family income is over one and a half times higher than the MSA’s.
• Norfolk MSA: $49,186      • Downtown Norfolk: $85,210
Source: U.S. Census Bureau. 2000

Total annual consumer expenditures per household were $43,887 in Norfolk and $53,125 in the MSA in 2007.  Annual retail expenditures were $18,765 per household in Norfolk and $25,012 per household in the MSA in 2007.
Source: Decision Data Resources


The Port of Virginia, the largest intermodal facility on the U.S. East Coast, operates facilities in several of the MSA’s cities including Norfolk.
More than 95% of the world’s leading shipping lines call on The Port of Virginia. It shipped over 17.7 million tons of cargo in 2007.
The Port of Virginia offers the added benefit of a foreign trade zone.

Norfolk International Airport is served by 7 major airlines: American, Continental, Delta, Northwest, Southwest, United Express, and US Airways.  They provide over 340 flights daily to 25 airports. In 2007 the airport handled over 3.7 million total (arriving and departing) scheduled airline passengers, and over 70 million pounds of air freight and mail.  The airport’s 400,000-square foot passenger terminal was built in 1974, and the new arrivals terminal, with 243,000 square feet, became operational in 2002.
Source: Norfolk International Airport.

One of the nation’s largest railroads, Norfolk Southern, headquartered in Norfolk, has extensive rail infrastructure throughout the Commonwealth of Virginia. These lines link to markets in 22 eastern states, the District of Columbia, and Ontario, Canada via 21,500 route miles.
Source: Virginia Economic Development Partnership

There are 83,906 active duty military living in the Norfolk MSA. Additionally, this MSA is home to nearly 160,000 military family members and retirees.
Sources: “The Navy in Hampton Roads,” by the Commander, Norfolk Naval Base. 2006,

The Half Moone Cruise and Celebration Center, a 80,000 square feet cruise terminal, is Norfolk’s newest and most unique waterfront attraction.  It boasts one of the nation’s largest privately-owned ocean liner collections as well as 400-year-old artifacts from historic Jamestown. Porthole Cruise Magazine recognized Norfolk with the “2008 Editor-in-Chief Award” naming Norfolk “Best Up-and-Coming U.S. Homeport
Sources: City of Norfolk

Downtown Norfolk received over 73,000 cruise ship passengers in 2007 traveling on such cruise lines as Carnival Victory and Grandeur of the Seas.
Sources: City of Norfolk

There were over 90,000 students enrolled in colleges and universities in the MSA in 2007.  These included over 22,000 at Old Dominion University and over 6,100 at Norfolk State University.
Source: State Council of Higher Education of Virginia, Fall 2007 enrollment

Business Statistics

The following facts give a broad overview of the Norfolk business community:

Business Demographics

Nonemployer Establishments (businesses with no paid employees) - 2007

9,866

Payroll Establishments (4th Quarter 2009)

5733

Number of jobs ((4th Quarter 2009)

138,351

Civilian Labor Force (April 2010)

101,931

Unemployment Rate (April 2010)

8.8%

 

Business Community

Foreign-owned firms (2010)

21

 

Commercial Real Estate

Downtown Office space

4.8 million sq. ft.

Downtown Office vacancy rate

11.8%

Office space citywide

10.1 million sq. ft.

Office vacancy rate citywide

16%

 

Navy in Norfolk (FY 2008)

Active Duty Military in Norfolk

56,001

Military Federal Civilian Workers in Norfolk

16,563

 

Jobs by Industry in Norfolk (2008)

Military

24.7%

Health Care and Social Assistance

9.9%

Federal Civilian

6.5%

Local government

6.4%

Retail Trade

6.4%

Professional/Tech. Svcs.

5.1%

Accommodation/Food Service

4.9%

Transportation/Warehousing

4.4%

Administrative and Waste Services

4.1%

Finance and Insurance

3.6%

Construction

3.4%

State government

3.3%

Manufacturing

3.2%

Other

14.3%

TOTAL

100.0%

 

Civilian Employment by Industry (4th Quarter 2009)

Health Care and Social Services

14.2%

Federal Government

11.2%

Local Government

10.2%

Retail trade

8.7%

Accommodation and Food Services

7.4%

Professional, Scientific, and Technical Services

6.5%

Transportation and warehousing

5.4%

Manufacturing

5.0%

Admistrative and Waste Management Services

4.6%

State Government

4.6%

Finance and Insurance

4.1%

Construction

3.4%

Wholesale trade

3.1%

Educational Services

2.7%

Other

8.9%

Total

100.0%

 

Commuting Patterns (2000)

People who live and work in Norfolk

74,572

In-Commuters

110,691

Out-Commuters

35,823

 

Sources: Virginia Employment Commission, HREDA, U.S. Census Bureau, CoStar

 

2014NorfolkInvestmentReport-cover

 

Norfolk Investment Report 2014

[read more]

 

NorfolkBusinessProfileDatacover

 

Norfolk Business Profile Data –
showcasing all the vital info.

[read more]