Regional Vision, Global Impact

Waterside, Norfolk

The Hampton Roads region is a great place to live, work and play. And, it’s only going to get better. “With proper foresight, continuous planning and dynamic economic development, Hampton Roads will be recognized internationally as a region fueled by Innovation, Intellectual and Human Capital, Infrastructure and a Sense of Place.”

Agroup of regional organizations and community leaders collaborated together to develop “Vision Hampton Roads,” a regional plan with a five year horizon. This “Vision” employs strategies and actions which leverage regional strengths to diversify and grow the economy, positioning Hampton Roads as a leader in the global economy of today and tomorrow.

In economic development today, it’s important to address who and what is Hampton Roads as a region; who lives here and why; what is the region’s business identity; and how entrepreneurs, creativity and innovation are attracted. Regions that thrive in the “new economy” will be those truly educating their workforce, cultivating innovation, investing in infrastructure and creating quality places, like Hampton Roads.

“Vision” planning has placed Hampton Roads on a path to regional transformation by embedding a working process as we think, live and act regionally.

After “Vision Hampton Roads” was developed, the Hampton Roads Partnership created “Innovate! Hampton Roads” as a component of “Vision” that looks to promote local business and tech-based development in the area. (http://innovatehamptonroads.com/)

Virginia Gazette reported that York County is moving forward with a planned mixed-use development with a $6.45 million property sale near Victory Boulevard at the York-Newport News line. Commonwealth Green plans include up to 384 apartments, 96 townhomes and four commercial buildings, according to the developer. Condominiums are planned above three of the commercial buildings. About 50 of the apartments would be in Newport News.

In addition, the Hampton Roads Alliance announced that Cushman & Wakefield/Thalhimer has sold the Palace Plaza strip shopping center just off Bypass Road in upper York. Polyzos Family Investments, LLC purchased the approximately 22,600 square-foot retail center for $610,000. The previous owner was C-111 Asset Management. According to York County’s property information website, the center is assessed at just over $1 million. It was sold to C-111 Asset Management for $680,000.

Located in the dynamic Greenbrier business community of Chesapeake, VA, Summit Pointe is the newest large-scale, mixed-use community centrally located within Coastal Virginia. Summit Pointe has already become a premier office location with the recent completion of the 510,000-square-foot, high-rise office tower for Dollar Tree, Inc (NASDAQ: DLTR) in Phase One.

Representing a projected investment of over $300 million in multiple phases, Phase Two emphasizes a new form of urban living, workplace solutions, dining, entertainment venues and shopping options. Construction began in June 2019, with the first living spaces delivered in August 2020 and the first retail and office spaces delivered in October 2020.

STRATEGIC LOCATION, GLOBAL SIGNIFICANCE

The first rule of thumb for any economic development is location, location, location. Hampton Roads, the region, is located in the southeastern coastal Tidewater of Virginia in the heart of the Mid Atlantic. It is a region that depends on a maritime-rich geography including all the benefits that come with it, such as commerce derived at its ports, tourism and real estate drawn to its beaches, and the waters that allow it to be one of the most concentrated naval strongholds on the planet.

Hampton Roads, the harbor, is formed by the confluence of the James, Nansemond and Elizabeth Rivers and flows into the Chesapeake Bay whose watershed covers 64,000 square miles and all or part of six states and Washington, DC. As one of the world’s biggest and deepest natural harbors, the largest in North America, Hampton Roads is home to the world’s largest naval base at Norfolk and the Port of Virginia, third largest behind Port of New York and the Port of Savannah. It is one of the busiest and fastest growing commercial ports on the U.S. East Coast with products popular the world over from Smithfield Hams to Suffolk Peanuts to Chesapeake Bay Blue Crabs.

Since the English settlers arrived in the early 1600s, Hampton Roads has been an enviable strategic stronghold. The region’s land area covers approximately 2,907 square miles and includes an extensive system of waterways including the Intra-coastal Waterway and enjoys a temperate climate guaranteeing an ice-free harbor.

The U.S. Department of Energy announced that Thomas Jefferson National Accelerator Facility has been picked to lead its new High Performance Data Facility Hub. The facility hub will be a $300 to $500 million computing and data infrastructure resource that will provide transformational capabilities for data analysis, networking and storage for the nation’s research enterprise, according to the Department of Energy. It will provide researchers with tools, methods and technologies to maximize the scientific value of data.

The central location of Hampton Roads is within 750 miles of threefourths of the nation’s population and six of the ten largest U.S. population centers. The Virginia Beach-NorfolkNewport News, VA-NC Metropolitan Statistical Area (Hampton Roads MSA) is made up of fifteen cities and counties, making it the seventh largest MSA in the Southeast U.S., the second largest between Washington, DC and Atlanta and the largest coastal MSA between New York and Miami in the Eastern U.S.21

The Virginia Beach-Norfolk-Newport News, VA MSA ranks 37th out of the nation’s 366 MSA’s.22

Hampton Roads is one of America’s most popular vacation spots, and boasts something for everyone. It has an expansive 2,600 miles of shorelines, world-renowned museums and cultural opportunities such as the Virginia Opera, Virginia International Arts Festival, and Virginia Symphony, sports organizations and venues, shopping malls, historic cities and towns, amusement parks and state and national parks. Hampton Roads’ climate is enjoyed by outdoor enthusiasts; recreational activities include boating, fishing, camping, biking, and tennis throughout the hundreds of local parks and campgrounds.

The region’s safe harbors, proximity to the ocean and rich history have worked together to form today’s Hampton Roads.

INDUSTRY DIVERSITY, LEVERAGING ASSETS

The region’s largest employers represent industry sectors like shipbuilding, health care, education, tourism, banking, insurance, manufacturing, telecommunications, and transportation and include: public school systems, colleges and universities, Sentara Healthcare, Riverside Health System, Bon Secours Hampton Roads Health System, Colonial Williamsburg, Chesapeake Regional Medical Center, SAIC, Measurement Specialties and GEICO.38 Hampton Roads is an international gateway with a large presence of foreign firms dominated by Germany, Japan and UK, including Canon, BAE Systems Norfolk Ship Repair, Stihl, HSBC-North America, Maersk Line Limited, CMA CGM North America, Zim-American, Ferguson Enterprises/Wolseley NA and AnheuserBusch/InBev.38