COMMUNITY
PROFILE
Gloucester County is part of Hampton Roads, the 37th largest metropolitan area in the country with a population of 1.7 million.
218 square mile county strategically located in the northeastern portion of Virginia’s Hampton Roads, the largest metropolitan area between D.C. and Atlanta.
Bound by nearly 500 miles of shoreline for exceptional watersports and recreational activities.
Located within the Virginia Beach-Norfolk-Newport News Metropolitan Statistical Area (MSA).
The Port of Hampton Roads is 45 miles south.
Richmond, the state capital, is 59 miles west and Washington, D.C. is 153 miles north.
Within 750 miles of two-thirds of the U.S. population and industrial activity.
Major Employers & Labor Force
Major Employers
Major employers in the area include:
Canon Environmental Technologies, Inc.
County of Gloucester
Gloucester County Public Schools
Rappahannock Community College
Riverside Walter Reed Hospital
Virginia Institute of Marine Science
Labor
Right-to-Work State
Typical commute to work is 30 to 40 minutes.
Virginia has one of the lowest average net costs for workers’ compensation in the country as well as one of the lowest unemployment insurance rates.
Civilian Labor Force
County of Gloucester: 19,757
Extended Labor Market Area: 823,851
Civilian Unemployment Rate (August 2024)
County of Gloucester: 3.1%
Regional / MSA: 3.7%
United States: 4.4%
Exceptional Sources of Labor
College Students: More than 90,000 students attending area colleges and universities are available for full-time or part-time employment opportunities.
Exiting Military: Each year, more than 13,000 military personnel retire or are discharged from area military bases and seek employment.
Military Spouses: More than 30,000 military spouses residing in the area seek full or part-time employment opportunities.
Seasonal Workers: The region’s tourism industry creates more than 10,000 seasonal jobs during the summer months. These seasonal workers provide an additional labor pool to companies with personnel peaks at other times of the year.
Quality of Life
Shopping Centers
York River Crossing: A 161,351 square foot shopping center located on U.S. Route 17 (George Washington Memorial Highway) in Gloucester. The center provides a cluster of retail shops, restaurants and a cinema with easy access and connectivity to surrounding communities.
Gloucester Village on Main: Quaint, historic and the center for government and retail activity. The village is the epicenter for business and day-to-day activity. Numerous one-of-a-kind businesses can be seen throughout Main Street from rare antique shops to specialty women’s shops, wine and cheese, jewelry, fabulous dining options and more.
Fox Mill Centre: A newly developed shopping center with national and local retailers. Fox Mill is located in the center of Gloucester on U.S. Route 17 (George Washington Memorial Highway). The latest phase of the center’s development will include additional retail and restaurants with a completion date slated for late 2016.
Health Care
Gloucester is home to:
Children’s Hospital of the King’s Daughters Pediatric Center
Riverside Cancer Care Center
Riverside Walter Reed Hospital
Sentara Medical Arts
Regional facilities include: Riverside Regional Hospital, Sentara Williamsburg Regional Medical Center, Sentara Norfolk General Hospital, Virginia Commonwealth University Medical Center, Children’s Hospital of the King’s Daughters, Johns Hopkins University, and the Hampton Proton Therapy Cancer Center.
Recreation
Gloucester is the kind of place you just feel good coming home to. Surrounded by nature, informed by history, and perfectly livable, Gloucester is a great place for families. The local schools are award-winning. The local economy is strong. The Chesapeake Bay, local parks, marinas and other public and private facilities offer a wide range of recreational activities.
Gloucester County is defined by hundreds of miles of Chesapeake Bay shoreline, offering many recreational opportunities. Boating, sailing, fishing, kayaking and competitive rowing are all actively pursued.
The county encompasses vast options for rural-style living and offers diversions from the cultural to the agricultural. Music, theater and the arts are all represented, as well as farmers markets, horseback riding, gardening, Virginia Homes week, and oyster farming.
Parks
Eight County parks offer residents and visitors many options for all ages including:
Beach at Gloucester Point
Freshwater and saltwater fishing
Hiking and riding trails
Picnicking
Skateboarding
Sports fields
A wide range of festivals and events are held throughout the year including the Daffodil Festival every spring.
Transportation
Highways
Major highways in and connecting to Gloucester are U.S. Route 17 (George Washington Memorial Highway) and U.S. Route 14. Interstate 64 is located within 12 miles of the county.
Motor Carrier
More than 155 motor carriers and more than 50 common carrier terminals are in the region.
Public Transportation
Amtrak (Williamsburg VA)
Bay Transit provides bus service in Gloucester, throughout the Middle Peninsula and Northern Neck 12 hours a day, 5 days a week
Greyhound-Trail Ways Bus Lines (Williamsburg VA)
Newton’s Bus Service, Inc.
Air Service
Newport News-Williamsburg International Airport - 23.6 miles (38 kilometers)
Carriers include Delta, and American Airlines
Norfolk International Airport - 49.2 miles (79.2 kilometers)
Carriers include American Airlines, Delta, Southwest, and United
Richmond International Airport - 51.2 miles (82.3 kilometers)
Carriers include American Airlines, Delta, JetBlue, Southwest, and United
Middle Peninsula Regional Airport - A general aviation airport centrally located on the Middle Peninsula with a 5,000 foot runway and averaging approximately 46 flights a day.
Rail Service
Freight service in the region is provided by CSX Transportation, Norfolk Southern, Commonwealth Railway and the Norfolk-Portsmouth Beltline.
Ports & Waterways
A 50 foot channel depth and ice-free harbor allow the world’s largest ships to dock.
Home of the APM Terminals Virginia, a private container terminal leased and operated by the Virginia Port Authority.
One of the largest container ports on the U.S. East Coast.
The Virginia Port Authority is comprised of three marine terminals, Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal, and one intermodal container transfer facility, the Virginia Inland Port.
Opportunity Zone
What is an Opportunity Zone?
Opportunity Zones are a federal economic development and community development tax benefit established as part of the 2017 Tax Cuts and Jobs Act available to investors with capital gains designed to encourage long-term private investment in low-income urban, suburban and rural census tracts.
The zones were nominated by each governor in the spring of 2018 and are comprised of low-income census tracts. Zones were eligible for nomination based on 2015 and 2016 American Community Survey data. Virginia had 901 eligible census tracts and per the Tax and Jobs Act, each state was only able to nominate 25% or 212 tracts and could have up to 5% or 11 contiguous tracts. Virginia nominated the maximum number of census tracts allotted. The designations are permanent until December 31, 2028.
Contact:
Kristen Dahlman
oz@dhcd.virginia.gov
Gloucester County is one of the 212 sites that the U.S. Department of Treasury designated as Virginia's Qualified Opportunity Zones. The Opportunity Zone covers Gloucester Point up to Ordinary.
What Are the Benefits?
The sample Investment chart to your right demonstrates the timeline and benefits.
Temporary tax deferral of capital gains reinvested into a Qualified Opportunity Zone Fund. The deferred gain must be recognized on the earlier of the disposition of the investment or December 31, 2026.
Step-up in basis. The initial basis in a Qualified Opportunity Zone investment starts at zero. The basis increases by 10% with a holding period of five years, and by an additional 5% if held for at least seven years, excluding up to 15% of the original gain from taxation.
Permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in an Opportunity Fund if the investment is held for at least 10 years. The basis of investment at the time of sale is increased to the fair market value.
What Types of Initiatives Qualify?
Rules and Regulations subject to change per U.S. Treasury.
Qualified opportunity zone stock acquired after December 31, 2017.
Capital or profits interest in a domestic partnership acquired after December 31, 2017.
Qualified opportunity zone business property acquired after December 31, 2017.
Qualified opportunity zone business.
What Are Qualified Opportunity Funds?
Information on proposed regulations and guidance.
Private-sector investment vehicles that invest at least 90 percent of their capital in Opportunity Zones.
Must be set up as a partnership or LLC.
A taxpayer must self-certify on their tax return by completing a form to create an Opportunity Fund. A draft form has been released by the U.S. Treasury.
Equity investment derived from an investor’s capital gains from a prior investment.
Investment Opportunities
Gloucester is one of 60 Virginia localities that is eligible for Virginia's Company Incentive Program, which provides the benefits of no Virginia corporate income tax on Virginia sales and access to the Commonwealth's Development Opportunity Fund providing up to $2,000 per year per new job for six years.
Over 90,000 students are attending surrounding colleges and universities that are available for full-time and part-time employment opportunities. Located in Gloucester Point, the Virginia Institute of Marine Science is one of the largest marine research and education centers in the U.S. The College of William & Mary, ranked sixth as best public university, is located 30 miles outside of Gloucester.
Gloucester is home to the world's largest recycling company, Canon Environmental Technologies, Inc. The 280,000 square foot recycling plant is the only one in the U.S., employing 150 people. This Fortune 500 company started a cartridge recycling program through its Clean Earth Campaign Program. Canon carries out zero-landfill waste processing by reusing parts, recycling materials, and employing energy recovery. They have been operating in Gloucester for over 25 years!