Provided by City of Manassas
As the City of Manassas continues to navigate the disruption caused by the pandemic, the Department of Economic Development remains focused on its core mission: business attraction, retention and expansion. The Department has shifted most of its efforts to assisting existing businesses with innovative initiatives to provide grants, jobseeker/employer services, marketing, and business counseling. They continue to closely monitor and report on key data points such as unemployment and real estate occupancy/rental rates.
The City’s industrial market remains very strong and manufacturing continues to support our local economy. The office market is still healthy with vacancy in a more “normal” range and rents are stable. Retail vacancy however has broken out of the 5-7% range considered healthy and represents a sector of the economy we are monitoring closely. The fourth quarter is very important for retail, so please make a conscious effort to shop local, especially during the holidays.