Local Economy

The local economy is characterized by a strong industrial base and diversified economic structure.

Forty-five internationally-owned companies, representing fourteen countries, have operations in Chesterfield.

New commercial and industrial announced investment in Chesterfield totaled nearly $106 million in 2018.

Selected Economic Indicators for Chesterfield County, Virginia

  • Civilian labor force (2017): 183,860
  • Unemployment rate (2017): 3.6%
  • Taxable retail sales (2017): $4.39 billion
  • Median household income (2016): $76,059
  • Total number of jobs in county (2017): 135,801
  • Total number of businesses in county (2017): 8,828
  • Total number of new startup firms in county (2017): 343

Economic Development Investment Announcements by Year

wdt_IDYearInvestment (millions)# New EmployeesSquare Footage
162013218,890,0005611,411,711
1720142,137,900,0323,2751,630,650
18201560,150,000710375,022
192016143,240,000666693,975
20201799,974,000452479,413
212018105,699,0003831,217,625

 

Economic Impact of Travel in Chesterfield County

  • Expenditures: $503,645,415
  • Jobs: 4,970
  • Payroll: $99,063,786
  • State Tax Receipts: $19,760,004
  • Local Tax Receipts: $11,241,585

Travel-related spending was up 5.2% in 2017 over 2016
Source: U.S. Travel Association for 2017

 

Economic Impact of Sports Tourism in Chesterfield County

  • Economic Impact: $41,020,726
  • Visitors: 71,851
  • Hotel Room Nights: 41,815
  • Total Tax Revenue: $1,530,073
  • Regional Economic Impact (from Chesterfield events): $84,170,112

Source: Chesterfield Parks & Recreation for FY2017-18