Economic Development

Initiative: Business Growth and Expansion

Organize and implement a business retention and expansion program. | Target date: June 30, 2026
Coordinate with state and regional partners on visitation program. | Target date: June 30, 2026
Organize reoccurring events throughout the City that bring in multiple businesses of similar industry or size. | Target date: June 30, 2026
Maintain and grow the Salesforce customer relationship management (CRM) database of existing businesses in the City. | Target date: June 30, 2026

Focus business development efforts on strategic plan's sectors to generate investment opportunities in Virginia Beach. | Target date: June 30, 2026
Develop potential investment leads through the business retention and expansion program. | Target date: June 30, 2026
Work with Convention and Visitors Bureau to leverage tourism and conference destinations to support business attraction. | Target date: June 30, 2026
VBED to network/engage during conferences and events in Virginia Beach. | Target date: June 30, 2026

Assist exiting military service members, veterans and military spouses with workforce training and business resources and connect them with Virginia Beach employers. | Target date: June 30, 2026
Deepen existing partnerships with educational institutions and forge new ones. | Target date: June 30, 2026
Focus on new entrepreneurship programs at the HIVE. | Target date: June 30, 2026
Provide business support for the childcare industry, including help with business retention and expansion, financial planning, staff retention, workforce development, and wage growth. | Target date: June 30, 2026
Expand Tidewater Community College Career Certificate Studies cohorts and stackable credentials focused on upskilling the Early Care and Education (ECE) workforce. | Target date: June 30, 2026

HIVE utilization of resource data.
Number of joint initiatives/programs developed with educational partners.
Number of new programs created, number of attendees, new business resource partners generated, and number of business start-ups or expansions resulting from attendance.
Early education business trainings for childcare industry.

Identification of potential redevelopment sites and infrastructure. | Target date: June 30, 2026
Research and identify applicable precedent redevelopment incentive programs. | Target date: June 30, 2026
Development of an incentive package toolkit for redevelopment. | Target date: June 30, 2026
Create a comprehensive list of available incentives including local tools, state, and federal incentives. | Target date: June 30, 2026

Number of sites identified and assessed.
Percent completion of infrastructure capacity assessments.
Percent completion of inventory of sites available for redevelopment by own.
Number of comparable cities and precedent applicable redevelopment incentives identified.

Creating meaningful opportunities for coworkers to connect. | Target date: June 30, 2026
Being receptive to alternative ideas & opinions. | Target date: June 30, 2026

Number of collaboration meetings reporting on projects/initiatives.
Attendance rates for connection-focused events and team-building activities.
Number of new ideas/suggestions submitted by team members, percentage of implemented ideas.
Number of training sessions for all staff on responsibilities and departmental policies and procedures.

Revise the Economic Development Investment Program Policy to include more detail on the job expansion and retention criteria.