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1,300+GRADUATES
INFORMATION TECHNOLOGYIndustry Brief:
Hampton Roads, VA
Jacksonville, FL
Charlottesville, VA
New Orleans, LA
Charleston, SCQual
itativ
e Sc
ore
(0 to
10)
PV of Operating Cost(index, average = 100)
130 110 90 70
5.5
6.0
6.5
7.0
7.5 Baltimore, MD
Research Triangle
Atlanta, GA
Toronto
In the Information Technology sector, Hampton Roads, Virginia is positioned with a sound combination of above average labor quality and competitive operating costs. Specifically, the region offers a competitive advantage with a number of assets for businesses in the software development sub-sector.
Cost-Quality Assessment: Software Development
Major Competitive Strengths• Established IT cluster• Experienced pool of exiting military personnel• Strong student base• Competitive operating cost• Strong data and IP protection
28,400+EMPLOYEES
2,600+ ESTABLISHMENTS
$17.21B DEMAND
Hampton Roads Economic Development Alliance www.hreda.comVirginia Beach-Norfolk-Newport News Metropolitan Statistical Area February 2019
$41.30
Computer Occupations, All Other
VIRGINIA MEDIAN, $46.04 — $4.76/HR SAVINGS
#Virginia holds the 2nd highest concentration of high-tech workers
within the U.S.
The following industries grew by 17% in 2011-2016 and are forecasted to grow an additional 10% by 2021.
• Software Publishing • Data Processing and Hosting• Specialized Design Services• Computer Systems Designs • Scientific Research and Development Services• Other Scientific and Technical Services• Management, Scientific and Technical Consulting
TALENT & WORKFORCEEach year, more than 14,000 military personnel exit the services in Virginia,
of which, 8,200 establish residency in Hampton Roads and 530 are within IT-related fields.
58%of Virginia’s exiting military choose to live in Hampton Roads
• ADP, Inc.• Booz Allen Hamilton• CACI• DOMA Technologies• General Dynamics• Lockheed Martin• Northrup Grumman• Raytheon• SAIC • Serco, Inc.• Sera-BrynnKE
Y EM
PLOY
ERS
Computer and Info Research Scientists boasts a regional LQ of 2.32, more than twice as concentrated as the national average.
WAGES
REGIONAL HOURLY WAGES AND COST SAVINGS
Hampton Roads offers significant hourly cost savings across many IT and software development occupations.
$49.05
Software Developers, Systems Software
VIRGINIA MEDIAN, $54.53 — $5.48/HR SAVINGS
$39.67
Computer Network Architects
VIRGINIA MEDIAN, $52.39 — $12.72/HR SAVINGS
$48.30
Computer and Information Research Scientists
VIRGINIA MEDIAN, $57.00 — $8.70/HR SAVINGS
$38.30
Information Security Analysts
VIRGINIA MEDIAN, $48.59 — $10.29/HR SAVINGS
$29.64
Web Developers
VIRGINIA MEDIAN, $35.98 — $6.34/HR SAVINGS
$44.43
Software Developers, Applications
VIRGINIA MEDIAN, $48.77 — $4.34/HR SAVINGS
U.S. AVERAGEU.S. AVERAGE
Colleges & Universities
Trade & Technical Institutions
Annual Graduates in Computer and Info Sciences
HAMPTON ROADS, VA HAMPTON
ROADS, VA
12211,300+
EDUCATION & RESEARCH
91%Population with a High School Diploma or Higher
INDUSTRY SPOTLIGHT
Located in Suffolk, Sera Brynn has grown into the highest-ranked, pure-play cybersecurity compliance and advisory firm in the world. Founded in 2011 by former members of the U.S. intelligence community, Sera Brynn assists business and defense contractors in complying with security regulation, implementing compliance frameworks and assessing and mitigating cyber risks. With decades of experience, their expert team is made up of security engineers, computer forensics examiners, security consultants, certified compliance auditors, security researchers and trainers. Access to military-connected cyber talent, exceptional quality-of-life, and proximity to Washington D.C. were among the many advantages that led to Sera Brynn’s decision to locate in Hampton Roads, Virginia.
COMPETITIVE PRICES FOR OFFICE SPACE
$21.52$16.80
1st Class A Rent per SF 1st Class B Rent per SF
$33.00
$24.52
55%2017 Graduates who Obtained a Bachelor’s Degree or Higher
NORFOLK STATE UNIVERSITY
ECPI UNIVERSITY
• Leading a $25MM initiative to enhance cybersecurity 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.
• 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.
• 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 (VMASC) is ODU’s modeling and simulation research center, founded in 1997 at the request of the Department of Defense.
OLD DOMINION UNIVERSITY
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 and inviting operating environment.
OPERATING ENVIRONMENT & COST
Highest Share of Science and Engineering Grads Age 25+ in the U.S. WalletHub, 2018#5
Most Innovative State in America WalletHub, 2018#7
Top State for Business CNBC, 2018#4
Boston
New York
Philadelphia
Washington D.C.
Charlotte
Orlando
LOCATION
OUR SERVICES
The Hampton Roads region is a tightly integrated, diverse collection of 11 localities, all of which help to provide a wealth of benefits for businesses and organizations of every variety. Our communities are connected by a convenient and accessible transportation network which allows multiple methods for moving goods and services between national and international markets. In fact, 47% of all United States consumers are within a one day drive of the region and our daily flights from two airports provide easy connections to all major international gateways.
Virginia Beach
Norfolk
Hampton
PoquosonNewport
News
Portsmouth
ChesapeakeSu�olk
Franklin
Isle of Wight
Southampton
Chicago
Atlanta
Detroit
Indianapolis
The Hampton Roads Economic Development Alliance is dedicated to assisting you with your business relocation or expansion needs across our 11 localities.
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 the Hampton Roads region. Connect with us today.
@HamptonRoadsEDAwww.hreda.com
+1-757- 627-2315 [email protected]
economic development alliance
500 Main St, Suite 1300 • Norfolk, VA 23510 • USA
