Forecasting
Annual Economic Forecasting
Each January, staff prepare and deliver a regional economic forecast for the year ahead. The forecast presentation includes a review of local and national trends and provides a forecast for gross regional product, employment, unemployment, retail sales, and construction for the year ahead. The Commission’s regional economic forecast is available by clicking here.
Long-Range Forecasting
HRPDC staff prepares long-range socioeconomic forecasts in collaboration with member jurisdictions to assist with planning efforts across the region. The socioeconomic forecast is used in preparation of the Hampton Roads Transportation Planning Organization’s Long-Range Transportation Plan, as well as other capital improvement plans. In July 2017, the HRPDC Board approved the 2045 Socioeconomic Forecast. An explanation of the 2045 forecast methodology along with detailed disaggregated information at the TAZ level is available in a report released by the HRTPO and is available here.
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