As a Hampton Roads community and a gateway to the number one state to do business, the City of Portsmouth maintains a number of partnerships to drive business in the city, the region and the commonwealth. These partnerships are key for incentives, public policy, relationship management, recruitment, and more.
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
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