Your New Beginning Starts Here
Portsmouth businesses employ some of the highest skilled and well-educated workforce in the Hampton Roads region. Recent business development has put Portsmouth on the map for growth in technology and higher education. Businesses that need to move goods and services will find an extensive and convenient infrastructure. From container terminals, railroad access, and centralized interstate connectivity, Portsmouth keeps businesses connected. Portsmouth also offers diverse community-focused experiences centered in history, culture, and recreation. This dynamic metropolitan area provides residents and businesses robust districts with access to premier amenities.
While focusing on attracting projects with new positions and expanding existing business opportunities, Portsmouth also focuses on upskilling residents to continue impacting quality of life factors such as income.
Small business is truly the backbone of Portsmouth – with locally owned and operated organizations ranging from home-based to brick-and-mortar, there is a place for your business in our ecosystem.
Over the past five years, Portsmouth Economic Development has connected our new and existing businesses with approximately $2 million in local, state, and regional incentives.
What We Offer
Facility Opened Sept. 2021
Lineage Logistics (formerly Preferred Freezer) underwent a national search for a location that provided the Port proximity and robust infrastructure needed to expand their cold storage offerings. The state-of-the-art, fully automated facility is 212,000 square feet and represents an $84 million investment. The Lineage Portsmouth Facility is directly adjacent to the Port of Virginia and has introduced 60+ highly paid positions.
VEDP is the state development arm created by the General Assembly to encourage, stimulate, and support the development and expansion of the Commonwealth's economy.
- Encourage exports of Virginia’s products and services
- Assist in formulating Virginia’s economic development strategies
- Administer state-level incentive programs
- Over 20 different incentive and grant programs
The Alliance are our regional development partners that help facilitate:
- Targeted marketing and promotion of the Hampton Roads region to investors and companies, including travel opportunities
- Act as an intermediary point of contact and liaison for companies and coordinators
- Ongoing partnerships between inward and local companies
- Policy advocacy towards cities, region and Commonwealth government authorities
- The Alliance represents 11 Hampton Roads localities; 9 cities and 2 counties
The Port of Virginia
Portsmouth is home to two of the Port of Virginia’s facilities, Virginia International Gateway (VIG) and Portsmouth Marine Terminal. The Port is a large partner of the City’s and helps to drive the maritime & logistics industry forward through continual advancement and investment.
- In 2018, the Port of Virginia saw 2.85 million TEUs
- In 2019, they completed a $320 million expansion of VIG which now features the largest cranes on the East Coast