Economy: A Wealth of Opportunities, Incentives Included.

By capitalizing on our unique assets, Portsmouth has brought about a thriving economic environment, brimming with opportunities, reminiscent of the potential foreseen by leaders in our colonial birth. Investment initiatives have positioned Portsmouth as a great discovery for industries of all types and we offer a wealth of opportunities for businesses focused on their futures.

  • Pro-business development leadership
  • Available retail, office and industrial/warehouse space and residential development
  • Deepwater harbor where the Chesapeake Bay meets the Atlantic Ocean
  • Economic incentive programs including Empowerment, Enterprise, Foreign Trade, Historic Tax Credits and HUB Zones
  • Interstate access
  • First-class conference center and luxury hotel featuring a 70-seat amphitheater style Executive Learning Center with computer hookups to T-3 data lines, as well as projection and audio-visual equipment

Portsmouth’s premier downtown
waterfront site, also considered by some to be the most desirable site in the region, will be redeveloped by Texas-based Lincoln Property Company.
The $158 million project is the largest single development ever proposed for the city’s downtown. The project is estimated to generate $29 million in revenue to the city over 10 years.

© 2008 City of Portsmouth, Virginia Department of Economic Development

200 High Street, Suite 200 • Portsmouth, VA 23704 • 757-393-8804 • 800-848-5690 • fax 757-393-8293