Labor Market
New Kent’s location on the border of both the Richmond and Hampton Roads metro areas has positive impacts on both labor availability and access to multiple workforce skills. These two MSA support a large and diverse workforce experienced in professions like tourism, retail, manufacturing, marketing, technology and a variety of business services.
With an excellent primary and secondary road system throughout the county and four interchanges on I-64, commuting to the metropolitan areas of Richmond and Hampton Roads takes less than 30 minutes from their respective ends of the county. Although I-64 is heavily traveled, traffic moves at the posted speed limit.
Richmond MSA Information
Hampton Roads MSA Information
- Workers´ Compensation costs are the 5th lowest in the nation.
- Unemployment Insurance rates are the 4th lowest in the nation.
- More than 80% of those 25 and older are high school graduates, and nearly 30% are college graduates.
- Workforce development is available at five nearby community colleges
- Virginia is the northernmost right-to-work state with less than 1% of manufacturing organized by unions.
- 5.2% of Virginia’s workers are covered by unions compared to 13.1% nationally.
- The areas have one of the lowest work stoppage records in the United States.
- Nationally, Virginia ranks in the top 10 in labor productivity.
Important Labor Considerations
- Approximately 206,000 active duty personnel and civilian employees.
- Virginia accounted for $43.3 billion of aggregate Department of Defense expenditures in FY 2005, ranking second in the nation.
- Approximately 38,000 Reserve and National Guard personnel.
- On the average 17,000 military personnel are discharged annually in the area.
Military
The Military’s presence in Virginia is a major economic activity. Its impact on the two MSA with a total of 21 installations is extremely significant. Military retirees or those leaving the service are an excellent source of trained, skilled labor.