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Business

For the past decade, the Fredericksburg Region has been one of the leading growth spots in Virginia (based on housing and population levels and economic activity). The business community represents all facets of industry and commerce. Visionary leaders welcome economic opportunities and take part in regional initiatives and long-range planning.

The region has more than 5,500 businesses – including 2,300 service establishments, 800 retail outlets, 950 construction-related companies, 150 manufacturing enterprises and 200 transportation-related companies.

The number of home-based businesses that provide specialized services is growing. Longstanding businesses in the area include the Silver Cos., Quarles Energy Services and The Free Lance-Star Publishing Co.

A variety of call centers, distribution centers, high-tech manufacturers and Internet-related firms conduct business from the Fredericksburg Region, as do national and international corporations.

High-tech defense contractors provide engineering and support services for three military installations. Four of the top 10 industries in the Fredericksburg Region that received Department of Defense contract awards are classified as high-technology industries and provide higher than average wages for their employees. Because of the predominance of the defense industry, the region has an abundance of career options in science, engineering and technology.

The mix of business and industry in the region creates a stable economic base and provides varied job opportunities for the region’s growing workforce.

The area’s two largest private employers are Mary Washington Hospital and the regional office of GEICO (the nation’s fourth largest private passenger auto insurer).

In addition to federal, state and local government, other large employers include wholesale grocery distributor McLane Mid-Atlantic, CVS/pharmacy, Walmart and GM PowerTrain.

Businesses with a new or expanded presence in the region include the Marine Federal Credit Union; HomeInstead Senior Care; Buyer’s Title, Inc.; WyteStone Suites; and Chevy Chase Bank.

High-tech products made in the region include silicon wafers, printed circuit boards, components for laser printers, imbedded Internet-type security systems, and steel wire for robotic applications. Companies that represent more than half of Virginia’s $12 billion high-tech industry are located near the region.