Manassas Releases 2024 Economic Development Annual Report

Manassas, VA—May 2, 2025—The City of Manassas has released its 2024 Annual Report, highlighting a year of transformative growth and community investment across sectors.

The City’s economy expanded by 52% over the past decade, driven by continued investment and rising incomes. In 2024, median household income soared to $117,919, and assessed property values rose by 10.8%. Manassas also retained the third-highest manufacturing wage in Virginia at $2,286 per week.

In a milestone for local industry, Micron announced a $2.14 billion expansion that will create 340 new jobs—building on its previous $3 billion investment to establish Manassas as its global Center of Excellence for long-lifecycle memory. This latest move brings Micron’s total investment in the City to over $5 billion, reinforcing Manassas’ standing as a hub for advanced manufacturing and semiconductor innovation.

The report also highlights citywide revitalization projects, a booming aerospace cluster, and award-winning workforce programs like Grow Manassas and GRADUATE!, which have served hundreds of residents with no-cost training.

With top-tier credit ratings from both S&P and Moody’s, Manassas is positioned as a regional leader in economic development. The full report is available at ChooseManassas.org/2024-annual-report.

“This report is more than a collection of numbers—it’s a reflection of the partnerships, talent, and innovation that make Manassas a standout community for business and quality of life,” said Patrick Small, Director of Economic Development.

About the City of Manassas Department of Economic Development:

The City of Manassas fosters economic development through collaborative partnerships, sustainable fiscal management, and supportive City services. The Department of Economic Development (DED) is directly responsible for business attraction, retention, expansion, and tourism initiatives in the City. As a resourceful and collaborative organization, we work in partnership with our key stakeholders to ensure that we have what businesses need, including a highly educated and technical workforce with access to major universities and first-class training providers. We take an active leadership role in all that we do, serving as a community builder, collaborator, and agent of economic growth. For help with your business needs please visit: https://choosemanassas.org/ or call 703.257.8305.