Tech Center is a 100-acre, mixed-use development being built at the corner of Oyster Point Road and Jefferson Avenue in Newport News. The concept is a hybrid that fuses the best components of today’s research parks and innovation districts to create a new, unique environment emcompassing neighborhood living, as well as retail, recreation and dining. By promoting the growth of a creative-minded community, Tech Center will become a place to collaborate, exchange ideas and encourage high-tech entrepreneurship.
Tech Center will also serve as an important economic engine for the city and the region. It is projected to create more than 5,500 new jobs, half of them in the highest paying employment sector—Professional, Scientific and Technical Services—according to the Economic Impact Study by Magnum Economics. Magnum projects the state and local tax impact of Tech Center (at build-out) to exceed $28 million.
The Next Generation of Development
Tech Center’s $450-million-dollar investment will include:
- The 50-acre Tech Center Research Park providing nearly 1 million square feet of office and laboratory space
- A dedicated Marketplace featuring more than 250,000 square feet of retail space, including many new-to-the-Peninsula retailers
- 285 high-end residential units