NORFOLK/PORTSMOUTH, VIRGINIA

A. Zone Vital Statistics:

1. Population of the Most Populous City: Norfolk - 261,229
2. Zone Population: 49,055
3. Approximate Zone Size: 10 square miles
4. Poverty Rate: 30%
5. Unemployment Rate: 19.95%
6. Education: 57% of Zone residents lack a high school diploma and 25% have less than a 9th grade education

B. Estimated Number of Jobs Created or Retained: 12,443

C. Proposed Leveraged Commitments: $600 million

1. Public Sector: $400 million
2. Private Sector: $200 million

• Crestar Bank
• First Union Bank
• NationsBank
• Wachovia Bank
• Branch Bank & Trust
• Dennys
• Interior Trends
• Wynn Nursery
• VA Power
• Office Depot
• Arthurs Drugs
• SSS Car Wash
• ERA Reality
• Burger King
• Pollards Chicken
• Maid Brigade
• Super 8 Motel
• Foot Locker
• Baker Street Metal
• Claud's Lawn Care
• B&B Exxon
• Dozier Enterprises
• Spirit Cruises
• Golds Gym

E. List of Other Key Partners:

• NAACP
• Norfolk Public Schools
• Portsmouth Public Schools
• Norfolk State University
• Old Dominion University
• The Urban League
• Tidewater Community College
• The United Way

F. List of Developable Sites:

• The Hampton Boulevard Redevelopment Project
• The Portsmouth Commerce Park / Tower Mall
• The Cox and Norfolk Southern Properties

Content Archived: January 20, 2009