HELPFUL WEBSITES

Caroline County Tourism www.visitcaroline.com

City of Hampton www.VisitHampton.com

Fort Monroe Authority www.fmauthority.com

Franklin & Southampton County Chamber of Commerce www.FSAChamber.com

Gloucester County Chamber of Commerce www.GloucesterVAChamber.org

Greater Williamsburg Chamber & Tourism Alliance www.WilliamsburgCC.com

Hampton Roads Chamber of Commerce www.HamptonRoadsChamber.com

Hampton Roads Alliance www.HamptonRoadsAlliance.com

Hampton Roads International Montessori School www.hrimontessori.org

Hampton Roads Military & Federal Facilities Alliance www.HRMFFA.org

Hampton Roads Performs www.HamptonRoadsPerforms.org

Fortune 1000 firms with headquarters or a significant presence in the region include Amerigroup, Dollar Tree, Smithfield Foods, and the largest private employer in Virginia, Huntington Ingalls Industries, Inc.38

Amazon.com Inc. will build two operations facilities in Hampton Roads, creating an expected 1,500 jobs. Both facilities are anticipated to open in 2021.The first facility is a multi-story robotics fulfillment center in Suffolk, which will create 1,000 jobs. The second is a 650,000-square-foot processing center in Chesapeake, which will create 500 jobs.

The region’s largest financial institutions include Bank of America, Wells Fargo, SunTrust and BB&T. Several regional banks are also strong financial assets in Hampton Roads, the largest of which is TowneBank.38

The economic structure of the region is characterized by the strong presence of the military, followed by real estate and rental leasing, manufacturing and shipbuilding, construction, tourism and recreation, and retail. Over the past decade, Hampton Roads’ population has grown at an annualized rate of

Hampton Roads Planning District Commission www.hrpdcva.org

Hampton Roads Regional Blog SmartRegion.org is no longer available

Isle of Wight-SmithfieldWindsor Chamber of Commerce http://www.hrpdcva.gov/

ODU Center for Real Estate & Economic Development www.BPA.ODU.edu/creed/ Opportunity, Inc. www.Opp-Inc.org

Peninsula Council for Workforce Development www.PCFWD.org

Prince George County www.princegeorgecountyva.gov /visitors/

Virginia Peninsula Chamber www.vapeninsulachamber.com

Visit West Point & King William County www.visitwestpointkingwilliam.com

York County Chamber of Commerce www.YorkCountyChamberVA.org

0.64%, slow compared to the nation. Since 2001, economic growth in the region has averaged 6.7% annually (3.3% in per capita dollars). Much of this growth is the result of increased Department of Defense (DoD) spending within the region.5

FEDERAL/MILITARY SECTOR

Hampton Roads has one of the largest concentrations of military personnel, second only to Washington DC, hence the regional moniker, “Pentagon South.” Hampton Roads hosts all five military services with both operating forces and major command headquarters. This includes the only NATO command in North America, and the U.S. Joint Forces Command (one of DoD’s ten combatant commands charged with transforming U.S. military capabilities). Increases in military pay and federal contracts have significantly contributed to the region’s economic growth. And defense spending continues to cushion the region in times of economic downturn.22 Thirty of the 100 largest defense firms in the world have a presence in Hampton Roads.

Hampton Roads is also the home to the world’s largest concentration of U.S. Coast Guard assets.

Additionally, thirteen Federal departments, administrations, and agencies are represented in the Hampton Roads region: Departments of Veterans Affairs, Agriculture, Commerce, Energy, Homeland Security, Interior, Justice, Labor, and Transportation.

PORT/MARITIME SECTOR

In 2016, Virginia ports generated 530,800 jobs, $27.4 billion in wages, $88.4 billion in spending and $2.7 billion in state and local taxes. (10.1 percent of Virginia’s gross state product) (http://www.suffolknewsherald.com/2017/01/28/virginiaports-a-driving-economic-force/) Naturally safe harbors in Hampton Roads have brought commerce and trade to the Hampton Roads region for centuries. Deepwater access that can accommodate today’s–and tomorrow’s–supertankers, a strategic Mid-Atlantic location and a streamlined infrastructure network have helped to make Hampton Roads a premier international port. Over 3,000 foreign and domestic vessels calling annually.

In addition to the Port of Virginia, Hampton Roads’ economy is built on many port-related activities including commercial, military land-based support facilities and inland transportation, ship repair, shipbuilding, cargo terminals, cargo and cruise ships, maritime insurance and legal services, shipping line offices, mega yacht repair and maritime construction.

Hampton Roads is well poised to be the dominant port on the East Coast. The 2040 Virginia Port Authority Master Plan is driven by the creation of 600 acres of land and opening of Craney Island Marine Terminal, improvements at Norfolk International Terminals and Portsmouth Marine Terminals, development at the APM Terminal in Portsmouth and enhanced intermodal rail service.

TOURISM/ARTS & CULTURE SECTOR

Hampton Roads is a popular vacation destination for millions of visitors annually. Each city has its own unique attractions, events and activities. From the surf and sand of the longest pleasure beach in the world at Virginia Beach, to the Historic Triangle of Jamestown, Yorktown and Williamsburg, to the convention centers spread throughout the region, Hampton Roads is an established multi-faceted tourist destination. The Leisure and Hospitality industry employs over 80,000 people in Hampton Roads. In addition to the hoteliers who depend on tourists to fill their rooms, tourism brings new money to restaurants, retail establishments and government coffers.25

Tourism contributes to quality of life through the influx of tax revenue, creation of jobs and improved services and attractions that add to the vibrancy of life in Hampton Roads. For businesses in Hampton Roads this means improved recruiting and retention and greater quality of life for those employees.26

Arts & Culture in Hampton Roads serve as a significant component of the Tourism industry. The arts strengthen and educate communities, lift spirits and build a better quality of life for everyone. As a billion dollar industry in Virginia, arts and cultural organizations create millions of dollars in revenues for area businesses, attract out-of-state tourism spending, generate millions of dollars in personal income for Hampton

Columbia-class Construction in Newport News

Newport News Shipbuilding is the state’s largest industrial employer with a workforce of 25,000. It is the sole manufacturer of nuclear-powered aircraft carriers for the U.S. Navy and one of two yards that builds nuclear-powered submarines.

In 2021, Newport News Shipbuilding began building components for the Columbia-class, a new fleet of ballistic missile submarines that will replace the aging Ohio-class boats. The lead contractor is General Dynamics Electric Boat of Groton, Connecticut.

About 33,500 employees in Virginia directly work in the private shipbuilding and repair industry. The associated $6.2 billion in labor income generates $10.9 billion in gross state product.

Roads’ workforce and entrepreneurs and create thousands of jobs for residents in the region.27

Employment

The Virginian-Pilot reported that jobs continue to increase at a slow, but steady pace. Port of Virginia is responsible for nearly 375,000 jobs and its economic impact is 60.3 billion a year. Navy Cyber Command in Suffolk brought 700 military, civilian and contracting jobs to the area. (http://www.dailypress.com/news/ military/dp-nws-navidfor-established20150128-story.html) Chesapeake will add new jobs with Xerox and the Sumitomo Machinery Corp. of America. Norfolk’s Waterside Live, AECOM, Bauer Compressors, Inc., and American Airlines will top the list of companies adding jobs. Green Mountain did build a facility in the Shirley T. Holland Intermodal Park. Cost Plus World Market and Safeco Products are also there. (http://www. dailypress.com/news/isle-of-wightcounty/dp-nws-iw-intermodal-parkcontract-developer-20170208-story. html). Portsmouth will make gains with Kroger and Suffolk with the Shenzhen Superwatt Power Technology Co. Virginia Beach rounds out the list with LoanCare, Medical Facilities of

America, Amerigroup Corp. (expanding to Norfolk,) IMS Gear (opening a new 112,000 square foot facility from state funds and grants), Labels Unlimited, and Green Flash Brewing Company. IMS Gear opened in Virginia Beach and employs 220 workers (as of 2016). (http://www.13newsnow.com/news/ local/mycity/virginia-beach/madein-america-and-made-in-virginiabeach-1/124824819)

In Feb. 2017, Sanjo Corte Fino selected Virginia Beach as the site of its 24,000-square-foot North American manufacturing headquarters. (http:// pilotonline.com/inside-business/news/ commercial-real-estate/the-millergroup-is-building-sanjo-corte-fino-svirginia/article_f7e3313c-e035-5993bc4b-c80584d16d49.html)

Newport News shipyard voted in favor of a 52-month contract through July 9, 2017, with Huntington Ingalls Industries Inc., the parent company of Newport News Shipbuilding. The Apprentice School,” a six-acre, $70 million venture for Newport News Shipbuilding was reaccredited until 2022 (http://pilotonline.com/insidebusiness/newport-news-shipbuildingapprentice-school-reaccredited/ article_57465813-5037-5319-9dc24024b855e642.html)

In addition, largest recent growth in the Hampton Roads region was in the healthcare and social assistance sectors, followed by leisure and hospitality, scientific and technical sciences, retail trade, and finally federal and manufacturing, as reported by Hampton Roads Planning and District Commission.

MEASURING SUCCESS, FOLLOW THE NUMBERS

Business, civic and government leaders in the region use the web-based Hampton Roads Performs as their resource for data that shows how the region is performing on key quality of life indicators.

Open to full public access, these quality of life indicators answer the question, “How is the Hampton Roads Region Doing?” and the results are used to compare Hampton Roads to other regions.

Workforce Quality: Over 27% of residents hold at least a Bachelor’s degree and the number of community college, high school career and technical education awards is increasing.1

Business Startups: The rate of startups, a measure of entrepreneurship, remains high compared to previous years.29

Personal Income: Among peer metro areas, per capita income is growing fastest in the Hampton Roads area and faster than the rate for the U.S. as a whole.30 A strong economy is characterized by prosperity reflected in improving standards of living.

Unemployment: Unemployment was 4.3% as of December 2016, but thanks to a strong military presence, still well under the national average which was 4.9% as of October 2016. (https:// data.virginialmi.com/vosnet/lmi/area/ areasummary.spx?enc=SgfjA5gOXyjl8J8 8h1RJLR2AsmalquX2CZY58u9Nja2srwE