City of Norfolk

What City of Norfolk does

The City of Norfolk Department of Economic Development is a municipal government agency, operating under the City of Norfolk government and the quasi-governmental Economic Development Authority (EDA) with approximately $29.78 million in total assets and ~$4.4 million in cash equivalents. The department's core function is business attraction, retention, and expansion across Norfolk, Virginia, supported by incentives, site selection, and workforce programs. It directs target-industry outreach to advanced manufacturing, maritime/transportation/logistics, healthcare/life sciences/biotechnology, information technology, insurance, business services, and offshore wind.

The department delivers its services through a defined product portfolio: the Capital Access Program (micro-grants up to $5,000 and $35,000 reimbursable grants for job-creating businesses), the Revolving Loan Fund, Enterprise Zone tax incentives (Utility Tax Relief, Business License Tax Relief, Building Permit Fee Relief, Tax Abatement), Norfolk Opportunity Zones, NorfolkWorks (workforce development connecting employers and job seekers via job fairs, VTOP internships, skills training), and the Norfolk Innovation Corridor, a 2.3-mile public-private Technology Zone arc linking Norfolk State University and Old Dominion University through Downtown Norfolk. Supporting tools include a publicly accessible Location-based Incentives Map and Norfolk Air property information portal.

The agency's go-to-market operates on two interlocked motions: enterprise-style direct engagement (site selection support, incentive negotiation, executive-level project management for major capital projects such as the Fairwinds Landing offshore wind logistics facility and the Katoen Natie 450,000 sq. ft. expansion) and partnership-based deal flow (Hampton Roads Alliance, Virginia Economic Development Partnership, Port of Virginia, Norfolk Southern Railway, CSX, state agencies, and the Greater Norfolk Corporation). Commercial revenue is not the operating model; instead, success is measured in capital investment facilitated (over $1 billion in active pipeline), jobs created (500+ at Fairwinds Landing, 76 at Katoen Natie, 92 at Embody, 100 at TQL), and tax base growth. Customer base spans large international logistics operators (Katoen Natie), North America's second-largest freight broker (TQL), medical device firms (Embody, Innovation Cardiology), veteran-owned SMBs (PadenCold), and growth-stage tech startups (TechArk Solutions, Mare Custos).

Name

City of Norfolk

Legal name

City of Norfolk Department of Economic Development

Website

https://norfolkdevelopment.com

Company type

Private

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The City of Norfolk Department of Economic Development is a municipal agency that attracts, retains, and expands businesses in Norfolk, Virginia. It delivers site selection support, incentive programs (Capital Access Program, Enterprise Zone, Opportunity Zones), workforce development via NorfolkWorks, and partners with regional organizations to drive capital investment.

Ownership category

akta.pro rank

Product category

Government Economic Development Services

NAICS

Administration of Housing Programs, Urban Planning, and Community Development (9251), Administration of Urban Planning and Community and Rural Development (92512)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Non-Operating Establishments (9995)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

akta.pro secondary industries

Public Property & Asset Management (Federal Buildings, Fleet, Land) (BPAIAAAJ), Sustainable Cities, Urban Development & Green Infrastructure (BPADALAL)

Keywords

• Economic development services
• Business incentive programs
• Workforce development
• Site selection assistance
• Tax incentive programs

Headquarters

HQ city

Norfolk

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Others

Revenue model

1. Economic Development Services: The Norfolk Department of Economic Development provides economic development services to businesses and developers. As a municipal government department, it does not generate revenue directly but facilitates capital investment, job creation, and tax base growth for the City of Norfolk through incentive programs, site selection assistance, and workforce development.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

The City of Norfolk Department of Economic Development is a municipal government agency that provides economic development services to businesses considering locating or expanding in Norfolk, Virginia. Its core offerings include site selection assistance, tax-incentive programs (Enterprise Zone, Opportunity Zones, Technology Zone), the Capital Access Program for gap financing, the Revolving Loan Fund, and NorfolkWorks workforce development services, all designed to attract capital investment and job creation to the city.

Product overview

The City of Norfolk Department of Economic Development operates as a government economic development agency offering a portfolio of programs and services to stimulate business growth and economic prosperity. The core offerings include the Capital Access Program (CAP) for alternative financing, NorfolkWorks for workforce development, the Enterprise Zone Program for tax incentives, and the Revolving Loan Fund Program. The department also provides interactive tools including a location-based incentives map and manages Opportunity Zones to attract private investment. These programs work together to support businesses at various stages from startups to expansion, serving target industries including Advanced Manufacturing, Healthcare/Life Sciences, Information Technology, Maritime/Transportation/Logistics, and Offshore Wind.

Differentiator

Problem solved

Functional benefit

Products and services

• Capital Access Program (CAP) A city-funded affordable financing program providing alternative and gap financing solutions to entrepreneurs and small to mid-sized businesses that may not qualify for traditional funding, including a $5,000 micro-grant and a $35,000 reimbursable grant tied to LMI job creation.
• NorfolkWorks A workforce development initiative connecting job seekers with employment opportunities and supporting businesses with hiring assistance, including job fairs, internship programs, and skills training delivered through the NorfolkWorks Career Center at 100 Bank Street.
• Enterprise Zone Program A state and local incentive program providing Utility Tax Relief, Business License Tax Relief, Building Permit Fee Relief, and Tax Abatement for commercial and industrial renovation within designated enterprise zones.
• Revolving Loan Fund Program A loan program providing financing options to support business growth and development within Norfolk.
• Norfolk Opportunity Zones A federal program designation providing tax incentives for private capital investment in designated low-income census tracts.
• Location-based Incentives Map An interactive mapping tool allowing users to explore location-based economic incentives and development opportunities throughout Norfolk.
• Site Selection Services Direct enterprise service providing site selection assistance, including available properties, business/industrial parks, collaborative and co-working spaces, and neighborhood commercial areas, paired with incentive negotiation for prospective businesses.

Quantifiable outcome

• Over $1 Billion in capital investment in the pipeline
• +5 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• Mare CustoscoreStrategic or Co-development Partner · 4 June 2026Mare Custos, an international maritime robotics and subsea intelligence company specializing in AI-enabled underwater inspection technologies, established operations within the Hampton Roads Alliance's IDEA Lab in Downtown Norfolk. This represents the company's first official presence in the United States to support business development across offshore wind, shipbuilding, defense, and subsea infrastructure sectors.
• Hampton Roads AlliancecoreStrategic or Co-development PartnerRegional economic development organization that worked alongside the City of Norfolk to attract and support major business expansions including Katoen Natie and Total Quality Logistics. The Alliance connects businesses with regional advantages and supports expansion projects.
• Virginia Economic Development Partnership (VEDP)coreStrategic or Co-development PartnerState economic development agency that worked with the City of Norfolk, Hampton Roads Alliance, Virginia Department of Rail and Public Transportation, and The Port of Virginia to secure major projects for Virginia including Katoen Natie expansion.
• Virginia Port Authority / Port of VirginiacoreStrategic or Co-development PartnerThe Port of Virginia, America's most modern gateway with the deepest harbor on the East Coast, is a key partner in attracting logistics and maritime businesses to Norfolk. The Port invests in infrastructure to meet demand from expanding companies.
• Fairwinds Landing, LLCcoreStrategic or Co-development PartnerFairwinds Landing is a Virginia LLC established to develop and operate Lambert's Point Docks into a world-class maritime operations and logistics center supporting offshore wind, defense, and transportation industries. Jointly applied for $39.265 million PIDP grant with Norfolk EDA.
• Norfolk Southern Railway CompanycoreStrategic or Co-development PartnerNorfolk Southern Railway signed a 30-year lease with Fairwinds Landing for Lambert's Point Docks property. The rail company supports the redevelopment of the facility for wind and defense industries.
• The Miller Group, Balicore Construction, FairleadmajorStrategic or Co-development PartnerHampton Roads-based affiliated companies that Fairwinds Landing leverages resources and experience from for the Lambert's Point Docks development project.
• Old Dominion University / Macon & Joan Brock Virginia Health SciencescoreStrategic or Co-development PartnerIntegration of Eastern Virginia Medical School with Old Dominion University (July 2024) created the largest portfolio of health sciences in Virginia with 56 academic programs. Supported by $65 million in state funding.
• Norfolk Economic Development Authority (EDA)coreOthersThe Economic Development Authority of the City of Norfolk manages EDA assets of $29,782,182 and approximately $4.4 million in cash equivalents. Works with the Department of Economic Development on major projects and grant applications.
• Norfolk Air (Norfolk Address Information Resource)minorOthersThe City's online property information tool provides data on addresses including Enterprise Zone boundaries and economic development areas to support site selection.
• Norfolk Innovation CorridorcoreStrategic or Co-development PartnerA 2.3-mile public-private partnership arc stretching from Norfolk State University to Old Dominion University through Downtown Norfolk, designated as a Technology Zone. Partnership between City of Norfolk, Greater Norfolk Corporation, and Norfolk business community.
• Greater Norfolk CorporationcoreStrategic or Co-development PartnerPartner in the Norfolk Innovation Corridor initiative bringing together business, government, education, and community partners to promote innovation.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Philadelphia Industrial Development Corporation (PIDC): Municipal-affiliated economic development corporation that packages incentives, manages industrial real estate, and supports workforce development in Philadelphia. Closest mid-Atlantic functional analog combining real estate, incentives, and business attraction.
• Hampton Roads Alliance: Regional public-private economic development organization that co-markets Norfolk and surrounding localities to prospective employers. Functions as Norfolk's regional pipeline partner, making it the most directly comparable peer at the regional level.
• Baltimore Development Corporation: Municipal economic development corporation for Baltimore, offering site selection, incentive negotiation, and workforce programming — structurally analogous to Norfolk's department with comparable port-adjacent economic emphasis.
• New Orleans Business Alliance: Public-private economic development organization for New Orleans, executing site selection, incentive packaging, and target-industry campaigns across maritime/logistics, healthcare, and digital. Comparable in scale and mission.
• Greater Norfolk Corporation: Norfolk public-private partnership co-steward of the Norfolk Innovation Corridor with the City. Operates in the same municipal economic development ecosystem but as a private 501(c)(3) entity.
• Virginia Beach Department of Economic Development: Adjacent coastal Virginia municipality operating a near-identical economic development mandate — site selection, business attraction, and incentive packaging — for the neighboring city. Closest direct peer given shared geography, customer overlap, and Hampton Roads partnership ecosystem.

Broad incumbents

• Greater Houston Partnership: Large regional economic development organization for the Houston metro with comparable port-and-energy-economy emphasis (Port Houston, offshore energy). Functions as a broader incumbent in the same industry space.
• Virginia Economic Development Partnership (VEDP): State-level economic development agency that works alongside Norfolk on major projects like Katoen Natie. Operates one tier above Norfolk's municipal department and provides statewide incentive negotiation and marketing.

Regional players

• Charlotte Regional Business Alliance: Regional business and economic development organization for the Charlotte metro, operating across a different Southeast geography but with overlapping target verticals (advanced manufacturing, fintech-adjacent services, life sciences).

Others

• Port of Virginia: State port authority and a core Norfolk development partner, operating marine terminals rather than competing for site selection. Included as an ecosystem participant that shapes Norfolk's addressable logistics market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/NorfolkVA
• Facebookfacebook.com/NorfolkVA
• LinkedInlinkedin.com/company/city-of-norfolk-economic-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about City of Norfolk