Stafford County Economic Development Report
We recently attended a presentation by Stafford County Business Development Administrator Richard A. Cobert at the Fredericksburg Area Association of Realtors. Here are some statistics and information reported by Stafford County Department of Economic Development and Tourism:
- The current population of Stafford County is 134,352. Since 2008 there has been an annual population increase of 1.8%.
- Stafford County is experiencing the highest building permit rate this year than any other time in its history.
- The current unemployment rate (4.4%) is the lowest in Stafford County history.
- The majority of Stafford County residents (60%) work in other jurisdictions.
- Stafford County residents have the 12th highest median income ($91,348) in the United States.
- The Russell-Knox Building (719,000 sq. ft., 4 levels, and $312.5 million) on Quantico Marine Corps Base has added 3,000 skilled workers. We believe this explains the new construction on Courthouse Road (Embrey Mill, Liberty Knolls, and Colonial Forge). The secured complex at the intersection of Russell Road and MCB-1 (Telegraph Road) houses the Military Departments Investigative Agencies (MDIA). The Russell-Knox Building has Counterintelligence Field Activity (CIFA) and Joint Counterintelligence Training Academy, Headquarters for the Air Force Office of Special Investigations (AFOSI), Defense Security Service (DSS), Headquarters for the Army Criminal Investigation Command (USACIDC). The complex includes a logistics building, dining facility, fitness facility, and retail facilities. The relocation of these assets requires the widening of U. S. Route 1 to 6 lanes from Telegraph Road to Joplin Road, and the creation of a new interchange at Russell Road.
- Between 2012-13 more than 800,000 square feet of office space was added to Stafford County.
- Since 2008 Stafford County has added 41 new restaurants and 5 new hotels (475 additional hotel rooms).
- There are 7 leased buildings by the FBI in Stafford County. More than 2,500 FBI employees work in these facilities and the FBI Academy.
- Stafford Airport is opening a 10,000 sq. ft. commercial terminal scheduled for December 2013. The FBI, DEA, and Quantico Marine Corps Base are now using Stafford Airport for routine operations.Stafford County Business Development Administrator Richard A. Cobert discusses the future direction of business and technology in Stafford County with members of the Fredericksburg Area Association of Realtors.
- Stafford County has invested in an optical fiber network to attract technology businesses.
- There are 110 government contractors with at least 5 employees conducting business in Stafford County.
- The comprehensive plan to develop Boswell’s Corner includes 1.2 million sq. ft. of commercial space. This development is necessary to handle the increase in contract employers conducting business with Quantico Marine Corps Base.
- Aquia Town Center will begin announcing business agreements and tenant contracts in January 2014. Plans include a full-service hotel with business and recreation services. Bungalow Alehouse is still committed to open a restaurant in the town center. Stafford County officials are encouraging a development plan resembling Fairfax Corner.
- Major retailers must have a population density of 200,000 before opening a business. The Department of Economic Development have used population predictions to attract businesses such as Trader Joe’s and other retail stores Stafford County residents have asked government officials to bring to the community.
- The Courthouse Road (Route 630) and Interstate 95 exchange has been finalized. The $162 million contract will need McDonald’s to move to a new location. This plan will create a major intersection on Jefferson Davis Highway (U. S. Route 1) at Stafford Hospital.
- Stafford County purchased 13 acres (July 1, 2013) next to Quantico Corporate Center for the Stafford Research and Technology Park. The $3.4 million land purchase will support principal areas of research in Informatics, Data Sciences, and Bio Sciences related to national homeland security, defense, and intelligence efforts. This effort is in partnership with the University of Mary Washington, Germanna Community College, George Mason University, and ManTech.
- Stafford County has given incentives to Germanna Community College to open both an academic center and automotive training center.
- Stafford County is pushing forward with town center plans for Stafford Courthouse, and residential and commercial upgrades for Southern Gateway and Falmouth Village.
- The Rappahannock Area YMCA will be operating the Embrey Mill Athletic Center.
- The economic impact of the BRAC expansion at Quantico Marine Corps Base. These results are from the 2012 economic impact analysis conducted by the Marine Corps Base Quantico Business Performance Offices:
- Employment: (direct effect) 18,530 jobs (indirect effect) 27,960 jobs (total impact) 49,490 jobs.
- Spending (billions): (direct effect) $1.7 (indirect effect) $4.7 (total impact) $5.9.
Contact us for assistance and guidance if you are considering buying or selling a home in Stafford County.