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Virginia Beach Commercial Real Estate In-depth
Virginia Beach is an independent city located in the state of Virginia. It is the most populous city in Virginia and the 41st largest city in the United States. The city is listed in the Guinness Book of Records as having the longest pleasure beach in the world. It is located at the southern end of the Chesapeake Bay Bridge-Tun
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Virginia Beach Commercial Real Estate In-depth
Virginia Beach is an independent city located in the state of Virginia. It is the most populous city in Virginia and the 41st largest city in the United States. The city is listed in the Guinness Book of Records as having the longest pleasure beach in the world. It is located at the southern end of the Chesapeake Bay Bridge-Tunnel, the longest bridge-tunnel complex in the world.
Virginia Beach has a diverse economy based on private enterprise, thriving tourism, and a strong military presence. In addition, many international corporations have established headquarters in the region using Virginia Beach commercial real estate. The growth in population has resulted in flourishing retail sales, increased commercial real estate in Virginia Beach and has also provided a large labor pool and support services. Virginia Beach commercial real estate in the form of open land for industrial development and high-quality office space continue to attract new industry.
Agribusiness contributes substantially to the local economy. There are around 150 farms in the city. Principal products using Virginia Beach commercial real estate included swine, soybeans, corn, horticultural specialties, wheat, vegetables, horse breeding, and dairy products.
Visitors to Virginia Beach spend millions during their stays at the resort city for accommodations, meals, entertainment, and other services.
About one-third of Virginia Beach's labor force is employed in retail and wholesale business. Companies in the retail/wholesale industry see the great advantage Virginia Beach commercial real estate can provide. Distribution greatly benefits from the fact that Virginia Beach is within 750 miles of three-fourths of the country's industrial activity and two-thirds of its population. An integrated system of highway, air, rail, and sea services provides easy access to national and international markets.
Other items and goods that are produced using Virginia Beach commercial real estate include power tools, furniture, coated abrasives, welding equipment, recreational products, machinery and agricultural products.
Virginia Beach commercial real estate also provides businesses with many incentives for both new and existing companies. Virginia is a right-to-work state. The State General Assembly has kept Virginia's taxes on industry very competitive by enacting one of the best corporate income tax laws in the nation and by eliminating many tax irritants, resulting in very modest tax bills for business and industry. Consequently, property tax exemption or investment tax credits are not used to lure new companies into the state.
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