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Harrisonburg MSA, Virginia

Only a few locations can guarantee the right combination of resources that are crucial to your business’s success.Virginia’s premier location offers excellent domestic and international access. Centrally located on the U.S. EastCoast, more than 47 percent of the U.S. population is within a day’s drive, and our integrated transportation system ofhighways, railroads, airports and seaports ensures that you can reach every one of your markets eciently. Closeproximity to Washington, D.C. facilitates contact with policy makers and the federal government system.

Virginia continues to rank among America’s leading states for business by CNBC and Forbes.com. Business-rstvalues, easy access to markets, stable and competitive operating costs, and a talented workforce all drove Virginia tothe top. This unique combination of assets has encouraged businesses to prosper here for more than 400 years. Likeyou, they searched the world over for that convergence of resources that would help ensure their prosperity. Forthem, their search ended here. Chances are yours will too.

• AAA bond rating- Virginia has maintained a AAA rating since 1938, longer than any other state.

• Right-to-work law allows individuals the right to work regardless of membership in a labor union or organization.

• Corporate income tax rate of 6% has not been increased since 1972.

• Headquarters to 37 Fortune 1000 rms.

• Headquarters to 56 rms each with annual revenue over $1 billion.

• More than 21,400 high-tech establishments operate in Virginia.

• More than 700 internationally-owned businesses from 40 countries are located in Virginia.

• Ranks third among the 50 states as a recipient of federal R&D funds.

• Streamlined permitting process.

• Recruitment training programs to help new businesses become operational faster.

• Programs at little or no cost to help businesses increase international sales.

Overview

Harrisonburg MSA 1

The Harrisonburg Metropolitan Statistical Area (MSA) is nestled in the heart of the historic andscenic Shenandoah Valley in west central Virginia. The area is bounded on the west by theAllegheny Mountains and on the east by the crest of the Blue Ridge Mountains. Interstate 81 is themajor transportation route providing one-day access to two-thirds of the U.S. population.

Roanoke is 110 miles to the south; Washington, D.C. is 125 miles to the northeast; and Richmond,the state capital, is 131 miles southeast.

Location

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The Harrisonburg MSA is a hub for technology development. When asked what attracted Serco tothe Shenandoah Valley, the management team listed a highly skilled and professional workforce,James Madison University, and affordable labor rates and a climate for technical innovation askey factors. Harrisonburg specializes in growing information technology businesses for healthand security solutions. Come see why industry leaders Rosetta Stone, SRI International, Merck andMillerCoors are investing hundreds of millions in this thriving market.

Discover What's Possible

Harrisonburg MSA

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PopulationGender Distribution (2018) Male FemaleHarrisonburg MSA 48.8% 51.2%Race/Ethnicity (2018)

ClassicationProle

AreaWhite 121,505Black 6,746Asian 3,167Two or More 2,759American Indian or Alaska Native 910Pacic Islander 190Hispanic (may be of any race) 17,109Median Age (2018)Harrisonburg 26 yearsRockingham 41 years

Labor Market

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Civilian Labor Force (2020)Harrisonburg MSA 65,784

Labor Force Participation (2013-2017)Harrisonburg MSA 63.0%

UnemploymentUnemployment Rate (August 2021)Harrisonburg MSA 3.3%Statewide 3.8%Unemployed (2020)Harrisonburg MSA 3,499Underemployed (4th Quarter 2019)Harrisonburg MSA 5,815

Labor Market

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Commute Time (2013-2017)Worked from home 2,674 4.2%Under 15 minutes 24,376 40.4%15-24 minutes 20,276 33.6%25-34 minutes 9,190 15.2%35-44 minutes 2,398 4.0%45-59 minutes 1,927 3.2%Over 60 minutes 2,158 3.6%Mean Travel Time to Work (minutes)Harrisonburg 16Rockingham 22

Additional Labor ResourcesHigh School Graduates Not Continuing (2017-2018) 299Two-Year College Graduates (Spring 2018) 1,131Two-Year College Enrollees (Fall 2018) 9,544Other College and University Graduates (Spring 2018) 6,275Total 17,249

Labor Market

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Career Readiness Certicate (06/30/2017-06/30/2018)Virginia’s Career Readiness Certicate (CRC) assists employers by certifyingthat a recipient possesses core skills in applied math, reading for information,and locating information. The CRC certication is based on established Workeys® assessment tests. Virginia uses a three-tiered approach (bronze, silver, gold)to credentialing certicate holders that is based on the recipient’s level ofdevelopment skills.

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Educational AttainmentOn-Time Graduation Rate (Class of 2018) 92.2%Percentage of Harrisonburg MSA population age 25+who are high school graduates (2013-2017)

83.0%

Percentage of Harrisonburg MSA population age 25+who have earned a Bachelor's Degree or higher(2013-2017)

28.1%

Labor Market

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Employment by Sector* (4th Qtr. 2018)Agriculture Forestry Fishing and Hunting 1,459 2.2%Mining Quarrying and Oil and Gas Extraction N.D. N.D.Utilities N.D. N.D.Construction 3,796 5.8%Manufacturing 10,308 15.8%Wholesale Trade 2,209 3.4%Retail Trade 7,128 11.0%Transportation and Warehousing 3,682 5.7%Information 880 1.4%Finance and Insurance 1,179 1.8%Real Estate and Rental and Leasing 789 1.2%Professional Scientic and Technical Services 1,840 2.8%Management of Companies and Enterprises 335 0.5%Administrative and Support and Waste Management 1,937 3.0%Educational Services 1,170 1.8%Health Care and Social Assistance 7,580 11.6%Arts Entertainment and Recreation 416 0.6%Accommodation and Food Services 8,023 12.3%Other Services 1,492 2.3%Total Government 10,730 16.5%

Federal Government 342 0.5%State Government 4,717 7.2%Local Government 5,671 8.7%

Unclassied 45 0.1%Total 65,080 100.0%N.D. - Not Disclosed*By Business Establishment

Employment by Occupation (2017)Construction, Extraction & Maintenance 5,780 9.1%Farming, Fishing & Forestry 480 0.8%Managerial, Professional & Related 15,710 24.8%Production, Transportation & MaterialMoving

12,580 19.8%

Sales & Oce 15,010 23.7%Service 13,870 21.9%

Total 63,430 100%

Labor Market

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Major Employers

ManufacturingCompany Product/ServiceAriake USA Food processing - stocks and brothsComSonics, Inc. Telecommunications equipmentGeorges, Inc. Poultry processingGraham Packaging Co. Plastic bottlesLSC Communications Book printingMerck & Company Inc. PharmaceuticalsMillerCoors Shenandoah Brewery Malt beveragesPackaging Corporation of America Packaging full line plantPerdue Farms, Inc. Poultry processingPilgrim's Pride Corporation Poultry processingTenneco Automotive Inc. Motor vehicle parts

NonManufacturingCompany Product/ServiceJames Madison University Higher educationMarshalls Retail distributionRosetta Stone Language learning softwareSentara/Rockingham Memorial Hospital Health careSerco Patent classication - sciencesWal Mart Retail distribution

Labor Market

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Closings, Reductions, Layoffs (7/2018 to date)Date Type Company Product/Service Employees

Affected9/4/2019 Closing Graham Packaging Co. Designs and manufactures plastic

containers for liquid products forconsumer consumption

115

Union Activity (8/1/2015 - 8/1/2018)Petitions led for representation 2Elections won by union 1Elections won by company 1

Labor Market

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Estimated Earnings (May 2018)

OccupationMedian

Wage (US$)Mean Wage

(US$)Median

Salary(US$)

MeanSalary(US$)

Laborers and Freight, Stock, and Material Movers, Hand 14.38 15.09 29,906 31,389Industrial Truck and Tractor Operators 17.13 18.85 35,630 39,207Heavy and Tractor-Trailer Truck Drivers 19.99 21.52 41,572 44,755Inspectors, Testers, Sorters, Samplers, and Weighers 16.55 18.37 34,428 38,213Welders, Cutters, Solderers, and Brazers 18.09 17.57 37,630 36,536First-Line Supervisors of Production and OperatingWorkers

26.52 28.91 55,172 60,132

Maintenance and Repair Workers, General 18.21 19.06 37,872 39,645Industrial Machinery Mechanics 26.04 27.52 54,170 57,249Bus and Truck Mechanics and Diesel Engine Specialists 22.21 23.48 46,198 48,842Oce Clerks, General 14.18 14.83 29,500 30,840Secretaries and Administrative Assistants, Except Legal,Medical, and Executive

16.16 16.27 33,610 33,840

Receptionists and Information Clerks 13.14 13.21 27,340 27,480Customer Service Representatives 14.58 15.38 30,320 31,990Bookkeeping, Accounting, and Auditing Clerks 17.91 18.43 37,260 38,330First-Line Supervisors of Oce and AdministrativeSupport Workers

23.42 25.04 48,700 52,080

Computer User Support Specialists 18.72 20.26 38,947 42,131Network and Computer Systems Administrators 34.54 35.47 71,850 73,772Software Developers, Applications 43.93 43.70 91,374 90,896Accountants and Auditors 31.24 32.58 64,975 67,768Human Resources Specialists 25.91 27.30 53,905 56,789

Per Capita Personal Income (2017)$38,045

Median Family Income (2013-2017)$65,034

Labor Market

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Public School Enrollment (Fall 2018)Level Number EnrollmentElementary 21 8,719Middle 6 4,073High School 5 5,578

Student Teacher Ratio (FY 2018)Elementary 13:1Secondary 9:1

Per Pupil Expenditure (FY 2018) (US$)12,216.06

On-Time Graduation Rate (Class of 2018)92.2%

High School Graduates Continuing Education (2017-2018)77.3%

Advanced Programs (2017-2018)Governor's STEM Academies and Health AcademiesGovernor's STEM Academy at Harrisonburg High School

Governor's School Enrollment 31Students taking 1 or more Advanced Placement (AP) Courses 954Students taking 1 or more AP Exams 609Students taking 1 or more Dual Enrollment Courses 349

Education

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Workforce Development FacilitiesFacility TypeMassanutten Technical Center Career and Technical CenterValley Workforce Center - Harrisonburg Comprehensive CenterValley Workforce Center - Luray Satellite CenterValley Workforce Center - Rockbridge Satellite CenterValley Workforce Center - Staunton Satellite CenterValley Workforce Center - Winchester Satellite Center

Higher Education Facilities — Fall 2018Facility EnrollmentJames Madison University 21,751Piedmont Virginia Community College - Eugene GiuseppeCenter

5,445‡

Blue Ridge Community College 4,099Mary Baldwin College 1,900Bridgewater College 1,857Eastern Mennonite University 1,444Lord Fairfax Community College - Luray-Page CountyCenter

†§

American National University - Harrisonburg Campus †

† Enrollment gures are not available.‡ Enrollment gures are for all campuses.§ Enrollment counted at a main campus.

Education

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InterstatesName DistanceI-81 0.0 miles (0.0 km.)I-64 11.0 miles (17.7 km.)I-66 33.1 miles (53.2 km.)

Note: Measured from border of locality/region.

HighwaysHighway 11 Highway 211 Highway 256 Highway 257 Highway 259Highway 276 Highway 290 Highway 33 Highway 340 Highway 42Highway 48

Commercial Air Service

Shenandoah Valley Regional Airport, Weyers Cave -- 15.1 miles(24.2 km.)

United Express

Charlottesville-Albemarle Airport, Charlottesville -- 46.2 miles (74.4km.)

American Airlines Delta Air Lines United AirlinesNote: Within a 75-mile drive of the center of the closest locality in theMSA.

Transportation

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General Aviation ServiceName Runway LengthBridgewater Air Park, Bridgewater, VA 2,745 ft (837 m)

Freight Rail ServiceChesapeake & Western RailroadNorfolk Southern Railway CompanyShenandoah Valley Railroad

SeaportsName DistancePort of Virginia (Inland Port Front Royal) 64.0 miles (103.0 km)Port of Virginia 208.0 miles (334.7 km)

Note: Driving distance from the center of the closest locality in the MSA to the Port of Virginia and anyother seaports within 100 miles.

Other Ports of EntryName DistancePort of Washington - Dulles 113.7 miles (183.0 km)

Note: Driving distance from the center of the closest locality in the MSA to the Port of Washington-Dullesand any other port of entry within 100 miles.

Transportation

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Utilities

ElectricShenandoah Valley Electric Cooperative Dominion EnergyHarrisonburg Electric Commission

Natural GasColumbia Gas of Virginia

TelecommunicationsVerizon South Level 3 CommunicationsLumos Networks Comcast Business CommunicationsShentel

WaterCity of Harrisonburg Rockingham CountyTown of Bridgewater Town of BroadwayTown of Elkton Food Processors Water Cooperative

Waste Water TreatmentHarrisonburg-Rockingham Regional Sewer Authority Town of BroadwayTown of Elkton Town of TimbervilleCity of Harrisonburg Town of BridgewaterTown of Dayton

Solid Waste DisposalHarrisonburg-Rockingham Landll

Utilities

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Financial Institutions — 4th Qtr 2018 Assets

BankAssets

(US$ Millions)Bank of America, N.A. 1,782,639.0Wells Fargo Bank, N.A. 1,689,351.0Branch Banking and Trust Company 219,071.0SunTrust Bank 209,720.5First-Citizens Bank & Trust Co. 35,267.5United Bank 19,247.3Union Bank & Trust Co. 13,732.0WoodForest National Bank 5,923.7Carter Bank & Trust 4,039.6Summit Community Bank, Inc. 2,192.9The First Bank and Trust Co. 1,809.0Farmers & Merchants Bank 778.6First Bank - Strasburg 752.7Bank of the James 675.3Blue Ridge Bank 538.9Pendleton Community Bank, Inc. 307.5Pioneer Bank 209.0

Financial Institutions

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Government

Rockingham County has a County Administrator and a ve-member Board of Supervisors.Harrisonburg has a City Manager and a ve-member City Council.

Both Rockingham County and Harrisonburg have comprehensive plans, as well as zoning andsubdivision ordinances.

Harrisonburg serves as the county seat. Bridgewater, Broadway, Dayton, Elkton, Grottoes, MountCrawford, and Timberville are incorporated towns within the county.

Taxes

Localities in Virginia collect a 1% sales tax. They do not tax other items taxed at the State level.

Counties and cities in Virginia are separate taxing entities. Therefore, a company pays taxes toeither a county or to a city.

If a company is located in a town, it pays town and county taxes except for utility taxes which arepaid only to the town and the license tax which is paid only to the town unless town law permitsthe additional collection of a county tax.

Manufacturers pay real estate, machinery and tools, truck and automobile, utility, and sales taxes.

Nonmanufacturers pay real estate, tangible personal property, truck and automobile, utility, andsales taxes. They also may pay either a merchants' capital or a license tax.

Government and Taxes

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Rockingham Health Care, Inc. is composed of Rockingham Memorial Hospital (RMH), afull-accredited, not-for-prot, 266-bed regional healthcare facility; East Rockingham Health Center;Mt. Jackson Medical Center; and the RMH Wellness Center, a medically based wellness facility.RMH offers a regional Cancer Center, Ambulatory Surgery Center, Home Health Care, FamilyBirthplace, a hospice program, plus a number of other diversied health services.

There are more than 220 physicians,1,180 health care workers, and over 600 volunteersassociated with RMH.

In addition to hospital services, Rockingham County and Harrisonburg jointly maintain healthdepartments and clinics to serve the health needs of area residents.

Massanutten Regional Library with 175,000 volumes has an annual circulation of 560,000.Libraries at James Madison University, Bridgewater College, Eastern Mennonite University, andBlue Ridge Community College are also open to the public and issue off-campus borrowers’ cardsto residents of the area.

The Rockingham MSA serves as the major retail and service center in the Shenandoah Valley. Aregional mall with over 90 retail outlets is located in Harrisonburg. Six additional shopping centersare conveniently located throughout the area for residents' shopping needs along with a variety ofshops and services in the Harrisonburg downtown central business district.

Community Facilities

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(continued)

There are over 200 places of worship in the area. These facilities represent a diversity ofdenominations and faiths.

Community Facilities

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Numerous cultural and recreational opportunities are available to the residents of the RockinghamMSA. The Shenandoah National Park, Skyline Drive, George Washington National Forest, GrandCaverns Regional Park, and Natural Chimneys Regional Park offer scenic views, hiking, skiing,picnicking, camping, swimming, shing, and other outdoor activities for residents as well asvisitors. Masanutten Four-Season Resort offers skiing, golf, hiking, mountain biking, and anindoor/outdoor water park.

James Madison University, Bridgewater College and Eastern Mennonite University sponsorlectures, concerts, art exhibits and numerous athletic events which are open to the public. Many ofthese events are free. Two planetariums, at Bridgewater College and James Madison University,are also open to the public throughout the year. James Madison University also offers programsand activities through their theaters, galleries, and recreation center.

Explore More Discovery Museum, a hands-on learning environment for children ages 1-12 andtheir families, is a regional attraction located in Harrisonburg's thriving downtown Arts & CulturalDistrict. Annual attendance exceeds 60,000 visitors.

Lifestyle

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