2012 Regional Overview

Transcription

1 2012 Regional Overview Hampton Roads, Virginia Aerospace & Aviation International Business Advice Composed of experts within the Hampton Roads business community, the International Advisory Council provides free consultation to Alliance clients. These experts review and discuss issues and processes necessary to establish an operation in the United States. The IAC offers consultation and/or services relating to the following: Accounting and Consultation Attorneys and Counselors at Law Direct Marketing, Advertising and Public Relations Financial Institutions and Services Insurance Logistics, Distribution, Warehousing Staffing Services Contact HREDA for more information about how to take advantage of the International Advisory Council s services. 1

2 International Profile Hampton Roads has 140 international firms, representing 26 countries Percentage of Total International Firms in Hampton Roads Germany 18% Japan 17% United Kingdom 9% Sweden 6% France 6% Canada 6% Switzerland 6% Denmark 4% Italy 4% Netherlands 3% Austria 3% Other* 18% **Other includes Australia, Belgium, Brazil, Finland, Greece, Hong Kong, Iceland, Israel, Liechtenstein, Malaysia, Norway, Spain, Turkey, UAE Source: HREDA Research NASA Langley Research Center The nation s first civil aeronautics laboratory, NASA Langley Research Center will celebrate its 95 th anniversary this year. NASA Langley Research Center focuses more than two thirds of its efforts on aeronautics including new wing fuselage designs ultra high boost bypass ratio engines changes to airport traffic management Awarded dozens of patents a year Leader in aviation technology transfer More than 40 wind tunnels National Institute of Aerospace Anon profit research and graduate education institute created to conduct leading edge aerospace and atmospheric research, develop new technologies and train the next generation of scientists and engineers. Formed by a consortium of large universities, the National Institute of Aerospaceservesasastrategicpartnerwith NASA Langley Research Center. Research for Airbus: smart airframes, and uncertainty and management in the aircraft design cycle. R&D 100 Award for development of the SansEC Temperature Sensor. Incubator space, perfect for international aerospace firms establishing a U.S. office. For more information, visit 2

3 Additional Educational Assets Newport News Aviation Academy Department of Aviation and Center for Aeropropulsion (CAP) 128 th Aviation Brigade (Ft. Eustis) Department of Aerospace Engineering Aviation Institute of Maintenance Military Naval Air Station Oceana Naval Air Station Oceana is the world s largest master jet base. 10,500 military personnel & 12,000 civilians 18 fighter/attack squadrons and the Navy s most advanced aircraft. Langley Air Force Base Langley Air Force Base is the home of an Air Base Wing, Fighter Wing, and Intelligence Surveillance and Reconnaissance Wing. Hampton Roads: Home to America s Military Headquartered Commands Navy: Fleet Forces Command Marine Corps: Marine Forces Atlantic Army: Training and Doctrine Command Air Force Air Combat Command NATO NATO Allied Command Transformation 3

4 The Aerospace & Aviation Industry 7of the top 10 aerospace and defense related companies on the Fortune 500 list have a presence in Hampton Roads Source: Fortune 500, 2013 Edition Carson Helicopters Based in Pennsylvania, Carson Helicopters expanded to Hampton Roads in Rebuilds and updates the S61 helicopter and other aircraft. The Carson Composite Main Rotor Blade is used on the Marine One, the helicopter that carries the President of the United States. Hampton Roads business friendly environment, the area s diversity and its strong workforce were all incentives for our coming here, said Frank Carson, President of Carson Helicopters. We re very satisfied with our new location and believe it s an ideal fit with both our current criteria and our plans for the future. Employment Statistics Civilian Labor Force Statistics December Civilian Labor Force 825,000 Employment 783,000 Unemployment 41,000 Unemployment Rate 5.0% Military Labor Statistics Active duty Personnel 2013 Total 102,200 Approximately 6,865 exiting military personnel establish their homes in Hampton Roads Sources: Virginia Employment Commission

5 Competitive Wage Rates Wage Rate Comparison Metro Area Mean Annual Wage Rate (All Occupations) New York, NY $58,010 Newark, NJ $55,150 Los Angeles, CA $52,610 Baltimore, MD $51,900 Philadelphia, PA $51,240 Atlanta, GA $48,270 Charlotte, NC $46,820 U.S. Average $46,440 Hampton Roads, VA $43,650 9% BELOW THE U.S. AVERAGE Sources: U.S. Bureau of Labor Statistics (Wage Rate Data May, 2013) Education: Nearly 103,000 enrolled & 19,000 degrees conferred annually Traditional Colleges and Universities Old Dominion University The College of William & Mary Norfolk State University Hampton University Hampton Roads is home to 12 traditional colleges and universities and over 20 for profit institutions producing work ready graduates. Christopher Newport University Regent University Attainment Level Hampton Roads U.S. Average Virginia Wesleyan College Eastern Virginia Medical School At least a high school diploma 89% 89% Tidewater Community College Some college 27% 23% Thomas Nelson Community College Paul D. Camp Community College Rappahannock Community College Associates Degree or Higher 33% 32% Sources: SCHEV; U.S. Census Bureau The Cost of Doing Business: The Hampton Roads Advantage Virginia s Unemployment Insurance and Workers Compensation Rates are Among the Lowest in the U.S. State Workers' Compensation Employer Insurance Costs Per $100 of Payroll Unemployment Insurance Tax per Employee California $1.85 $361 Florida $1.27 $232 Georgia $1.16 $224 Maryland $1.07 $242 New Jersey $1.36 $866 New York $1.41 $464 North Carolina $1.19 $441 Pennsylvania $1.51 $543 South Carolina $1.82 $320 Virginia is an Employment At Will and a Right to Work State Union Membership Hampton Roads U.S. Total Workforce 5.0% 11.2% Total Private Sector 3.7% 6.7% Total Public Sector 9.2% 35.3% Sources: Workers Compensation State Rankings VEDP; Employment and Training Administration & United States Department of Labor; Union Membership Unionstats.com, 2014 Virginia $.77 $209 U.S. Average $1.29 $235 5

6 Hampton Roads Economic Development Alliance Contact Us: U.S. Offices 500 Main Street Suite 1300 Norfolk, VA T: F: Fountain Way Suite 301 Newport News, VA T: F: hreda.com International Office Ipswich, Suffolk, UK T: +44 (0) 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 Virginia s Hampton Roads. And, 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 operations in our vibrant business community. 6