Virginia Beach is gaining quite a reputation as a great city for business. In addition to the incredible lifestyle expected from one of America's favorite vacation destinations, Virginia Beach also boasts a skilled, educated workforce, strategic location, low tax rates, and a dynamic, diverse economy; STIHL Inc. and Lifenet located their U.S. headquarters in Virginia Beach. The City of Virginia Beach is one step closer to having a privately funded entertainment and sports arena built on City-owned land near the Virginia Beach Convention Center. "This is one of the most exciting projects that Virginia Beach will see. It has the potential to transform the critical corridor between the convention center and our boardwalk and move us closer to becoming a year-round destination," said Mayor Will Sessoms.