Information Technology by Hampton Roads Alliance

INFORMATION TECHNOLOGY IN HAMPTON ROADS, VA

Located in southeastern Virginia, Hampton Roads is a diverse region offering a variety of lifestyles and assets for individuals, businesses and organizations of every variety. Residents can choose from an urban setting, a suburban neighborhood or a rural environment while enjoying an average commute of less than 25 minutes. Home to the deepest natural harbor and the fastestgrowing port on the East Coast, Hampton Roads offers convenient access to the world’s markets via its integrated transportation network connecting the seaport to interstate highways and rail services. Located midway between Maine and Florida, the region’s central location provides access to 47% of the U.S. population — more than 130 million consumers — within a day’s drive.

HAMPTON ROADS, VA

INDUSTRY LEADERS

Hampton Roads Alliance

Virginia Beach-Norfolk-Newport News Metropolitan Statistical Area

www.HamptonRoadsAlliance.com

March 2022

INDUSTRY SPOTLIGHT IP Configure is a veteran-owned small business with a big impact in this military town. IP Configure is a leader in developing software and creating cutting-edge video surveillance research. From its location in Norfolk, VA - a revitalized 1930’s historic property in the heart of the city’s technology zone and steps away from Old Dominion University - IP Configure is providing solutions to quick service restaurants, international ports, hospitals and institutions of higher learning. The convergence of business, technology and academia has created an environment of growth and innovation in Hampton Roads.

WAGES & OCCUPATIONS Hampton Road offers competitive wages. The region’s mean annual wage rate across all occupations is nearly 8% below the U.S. average.

$52,170 HAMPTON ROADS, VA

$56,310 U.S. AVERAGE

REGIONAL HOURLY WAGES AND COST SAVINGS Software Developers & Software Quality Assurance Analysts

$46.99 VA MEDIAN, $52.95 — $5.96/HR SAVINGS

Computer Hardware Engineers

$52.89 VA MEDIAN, $57.48 — $4.59/HR SAVINGS

Computer & Information Systems Managers

OPERATING COSTS

$69.87 VA MEDIAN, $72.67 — $2.80/HR SAVINGS

With a corporate income tax rate of only 6% that has not increased since 1972, streamlined permitting processes, a right-to-work law and minimal union activity, Virginia hosts a stable, inviting operating environment.

Top State for Business CNBC, 2021

Best Business Climate Business Facilities, 2021

Computer Network Architects

$52.27 VA MEDIAN, $56.14 — $3.87/HR SAVINGS

Web Developers

$30.18 VA MEDIAN, $37.12 — $6.94/HR SAVINGS

Computer Network Support Specialists

OFFICE SPACE

$28.83 VA MEDIAN, $31.47 — $2.64/HR SAVINGS

$23.76 HAMPTON ROADS, VA

$40.42 NATIONAL AVERAGE

$20.45 HAMPTON ROADS, VA

$34.59

Computer Systems Analyst

$44.94

NATIONAL AVERAGE

VA MEDIAN, $45.06 — $0.12/HR SAVINGS

Class A Rent (price per SF)

Total Market (price per SF)

SOURCE: BLS MARCH 2022

TALENT & HIGHER ED.

REGIONAL PROGRAM HIGHLIGHTS Old Dominion University

Hampton Roads is home to 12 colleges & universities, 21 trade & technical schools, 138,000+ students and 1,300+ annual graduates in Computer and Info Sciences. VIRGINIA TALENT ACCELERATOR The Virginia Talent Accelerator Program provides world-class training and recruitment solutions that are customized to a company’s unique operations, equipment, standards and culture. All services are provided at no cost to qualified new and expanding companies as an incentive for job creation.

WORKFORCE 21,000+ military personnel exit the services annually in the state of Virginia. 15,000+ military personnel exit the services annually in the Hampton Roads region.

• Center for Cybersecurity Education and Research promotes cybersecurity awareness and forensics. • Cybersecurity & Military Laboratory pursues ongoing research projects including cloud computing, software networking and cyber resilience metrics. • Virginia Modeling, Analysis and Simulation Center is ODU’s modeling and simulation research center. It was founded in 1997 at the request of the Dept. of Defense.

Norfolk State University • Leading a $25M initiative to enhance IT workforce. • Big Data Information Security Laboratory is a state-of-the-art facility designed for teaching and research in network security, cloud computing and big data. • Cybersecurity Internship Program allows interns to work on a variety of topics including big data mining, intrusion detection, and modeling and simulation.

ECPI University

71%

of Virginia’s exiting military are located in Hampton Roads.

Computer and Info Scientists boasts a regional location quotient of 2.33, more than twice as concentrated as the national average. Approximately 13,000 people are employed in the Information Technology industry in Hampton Roads, and the number of jobs is forecast to grow 6% by 2026.

• With four locations across Hampton Roads, ECPI offers a wide variety of Information Technology programs for both Bachelors and Masters degrees. • Programs include Cloud Computing, Cyber & Network Security, Mobile Development, Software Development and Web Design & Development.

Virginia is home to the highest concentration of tech talent and third-largest tech industry workforce in the nation.

Approximately 70% of the world’s internet traffic moves through Virginia’s data centers every day

TALENT INVESTMENT

BROADBAND INFRASTRUCTURE

Through its historic, innovative Tech Talent Investment Program, the Commonwealth of Virginia, donors, and corporate partners are investing more than $2 billion to expand Virginia’s tech talent pipeline, doubling the number of graduates each year in computer science and closely related fields. Additionally, Virginia higher education institutions already produce roughly 12,000 tech-related degrees and certificates annually in areas ranging from computer science to modeling and simulation.

The Regional Connectivity Ring is a fiber optic cable infrastructure project that will serve as a backbone for the digital ecosystem of Hampton Roads. It will eventually connect the entire region to the digital port in Virginia Beach. Phase I of the project will include a 119-mile fiber ring through the cities of Virginia Beach, Chesapeake, Suffolk, Portsmouth, and Norfolk, connecting local government centers, higher education facilities, and military installations. Construction for Phase 1 began in April 2022 with completion planned in 2023. Future phases of the project will connect the Southside to the Peninsula and the western localities.

MAP KEY Southside Fiber Ring Regional Fiber Optic Network, Phase 2 - 4 Major Municipal Fiber Connections

James City County

Existing Transatlantic Cable Williamsburg

Planned Transatlantic Cable

York County

Subsea Cable Carrier Hotel at Corporate Landing Business Park

Newport News

Poquoson

Hampton

Norfolk

Isle of Wight

(SPA

REA

S A E X (S O UT

Southampton

The decision to invest in a new or expanded operation is never taken lightly. Our goal is to match the business needs required for your company to be successful with the assets found in Hampton Roads, Virginia. Our objective is to facilitate the evaluation process and provide powerful tools that save you time and money as you seek to locate your new business operations in Hampton Roads. Connect with us today.

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Virginia Beach

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The Hampton Roads Alliance is dedicated to assisting you with your business investment or expansion needs across our 14 localities.

Suffolk

Franklin

Portsmouth

Chesapeake

HAMPTON ROADS

Growing the 757. Growing Virginia.

101 W. Main St., Suite 1000 • Norfolk, VA 23510 757-627-2315 • info@757alliance.com www.HamptonRoadsAlliance.com