Government has decided to make vizag as an alternative hub for IT industry. IT companies are also interested in this city due to various factors like congestion of cities, higher attrition rate in other cities, Lower rents per sft availability of skilled man power, due to the presence of large number of Engineering and IT colleges, having an Airport, Seaport, Export promotion Zone etc.

Govt. has allotted

• 300 acres on Visakha- Bhimli road facing sea for IT Parks.
• 8 acres to SATYAM in the heart of city adjacent to the national highway.
• 7 acres to TCS
• 7 acres to WIPRO

Govt. is finalising

• Construction of IT TOWER in the heart of city.
  

Developments in the City of Destiny

• IT TOWER at Endada.
• To build another HI-TEC CITY similar to Hyderabad in another 2500 acres near Madhurawada is being considered for locating all organisations, training, colleges etc all exclusively for IT business.It will be IT hub for Visakhapatnam.
• HSBC has already started its activities.
• Satyam is investing 70 Crores.
• TCS is investing 100 Crores.
• Wipro is investing 100 Crores
• SEZ in 20,000 acres
• Bhabha Atomic Center in 3000 acres
• Eastern Naval Command Center in 4000 acres
• HPCL Expansion
• VSEZ New Projects in 200 acres
• Pharma City in 2400 acres with Rs.2800 crores investment
• Visakhapatnam Steel Plant Expansion in next 3 years upto 5.3 MT capacity
• 2900 acres gave been identified and allotted to software companies from Madhurawada to Bhogapuram
• Brandix : Garments Factory of Srilanka with Rs.500 crores investment creating 60,000 jobs
• Apparel Park - 145 acres  with Rs.70 crores investment creating 20,000 jobs
• Gangavaram port development with Rs.1400 crores
• Expansion and further development of present Airport
• Proposed International airport -  place to be identified
• 1200 acres Visakhapatnam Beach Resorts Pvt Ltd
• 316 acres recently announced Film City
  

Advantages of Visakhapatnam are

• Necessary transport & Communication
• Traffic jams are not yet experienced
• It is the major Sea port for Andhra
• Close to many natural resources like iron Ore and coal etc.
• Has an export promotion Zone
• Air-port
• Andhra University, GITAM University.

Recently large number of Engineering colleges, Medical colleges have come up to provide the much needed skilled, talented and technical, managerial human resources to power the growth engine. Necessary infrastructure like good schools, hotels are developed and geared to the upcoming demands.

"The City of Destiny"   for   Realty investments