- The VEC used the following criteria to define new firms:
- Setup and liability date occurred during the quarter.
- Establishment had no predecessor Unemployment Insurance account number.
- Private ownership.
- Average employment is less than 250.
- For
multi-unit establishments, the parent company must also meet the above
criteria.
Readers and criteria may disagree with the numbers. They are open to interpretation.
For example, I would venture to guess that Virginia Beach
fostered more startups because the city’s population is double Norfolk and
Chesapeake.
So with more people, it would be logical that Virginia Beach
would lead in new firms opening.
But that doesn’t explain why Chesapeake, whose population is
the same as Norfolk’s population, would outstrip this historic port town in
startups.
The number of startups peaked in 2008, the year of the
financial crisis, and then dipped for the next two years.
By 2010, the number of startups in each city had accelerated
from the downturn in 2009.
In 2012, the number of startups in each city had outstripped
levels reached in 2004, the VEC reported, including Norfolk.
Virginia Beach does have a higher per capita income and a
lower poverty rate than Norfolk, perhaps explanation the difference. (Exact
Census figures aren’t available due to the government shutdown.)
Other factors could be involved, such as the availability of
capital from private sources, the Beach lifestyle, a supply of newer homes and
an educational system meeting or exceeding state standards.
But the comparison is risky and invites noisy denials.
Each city has its pluses and minuses.
You decide, readers.
City
|
Q1:13
|
Norfolk
|
62
|
Chesapeake
|
71
|
Richmond
|
95
|
Virginia Beach
|
138
|
City
|
2004
|
2012
|
Norfolk
|
122
|
190
|
Chesapeake
|
120
|
237
|
Richmond
|
215
|
377
|
Virginia Beach
|
324
|
519
|
Source: Virginia Employment Commission; Quarterly Census of
Employment and Wages
This sounds like the Pilot spin. VB gives away everything, except the kitchen sink, to lure businesses. We have big city traffic, big city crime, big city taxes, and big city skyscrapers. The skyscrapers, even have the developers names in bright lights.(reminds me of the graffiti on the buildings in decaying cities, only a lot more expensive markings) Check out the Sept. 2nd Pilot article-"VB travels far to drum up business". This brings up the acquisition of Smithfield Foods Company, by a Chinese Company. By the way, the Snake is the sign for the Chinese New Year 2013.
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