Business & Industry

ECONOMIC OUTLOOK

The city of Harrisonburg is undergoing major expansion. In 2003, the City of Harrisonburg, including Rockingham County, became a Metropolitan Statistics Area (MSA). By definition an MSA must include at least one urbanized area of 50,000+ in population with adjacent territory that has a high degree of social and economic integration as measured by commuting ties. Since the day this designation was granted to our community we have seen increased growth and most residents have now realized that Harrisonburg is on the expansion radar of major retailers, developers and investors throughout our region and across the nation.

The growing number of full-time residents, a vibrant university community, and a moderate cost of living contribute to the attractiveness of our community. The recent increase in the City of Harrisonburg's annual taxable sales figures reflects the tremendous amount of growth that has taken place.

In the table below you can see just how much our local economy has expanded since 2001. 2005 was a benchmark year with taxable sales reaching over $1.1 billion.