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Economy

For more than four decades, business leaders spanning the globe have recognized the abundance of opportunities the Fredericksburg Region offers to those with ambition, flexibility and a drive to succeed. The reasons behind the area’s fantastic growth are no surprise. A pro-business climate, a desirable location near Washington, D.C., and swift access to major markets make the Fredericksburg Region an ideal locale for potential investors.

Prime office, commercial and industrial spaces are available, as are large tracts of land for the creation of new enterprises in areas such as government contracting, communications and a variety of high-tech start-ups.

The region boasts one of America’s most skilled labor pools. The local workforce numbers about 125,000, while nearly 1 million commuters reside within a 40-mile radius of the region. Education levels surpass the national average. More than 70 percent of area workers are college-educated and have managerial, professional and technical skills. The region has one of the country’s highest concentrations of doctoral degrees.

The $35 million Stafford Regional Airport, designed for cargo and corporate jet traffic with wingspans of up to 80 feet, has foreign trade zone capability and the potential to expand its 5,000-foot runway an additional 1,000 feet, allowing for larger planes and more flights. It is convenient to commuter rail, and adjacent land is available for those who dream of manufacturing and selling the goods that will fuel the economy of the future.

The Fredericksburg Region’s existing infrastructure includes a high-speed fiber optic telecommunications system that is part of an 18,000-mile national system.

To create a hospitable business environment, state and local governments offer tax credits, free counseling and financial and technical assistance for start-ups, expansions and relocations. Economic development professionals acquaint prospective businesses with the area and provide incentives to encourage corporate investment.

University of Mary Washington’s Small Business Development Center and the Fredericksburg Regional Alliance work closely with private industry, local governments and educational institutions to move the economy forward. Together they aggressively market the region, recruit new industry and help existing businesses expand.

The Fredericksburg Regional Chamber of Commerce is a networking, marketing and advocacy resource that provides many benefits to businesses. The Chamber responds to community and business needs as they develop; helps potential buyers, suppliers and collaborators connect with one another; and advocates for a continued strong business environment.

With a long tradition of cooperation among the localities, businesses can rely on community leaders to think regionally and consider everybody’s success. Through shared resources, the strengths of each locality become available to businesses throughout the entire region.


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