The Hampton Roads Economy, Analysis and Strategies Part 1: The Role of the Military

The economy of Hampton Roads has been, and remains, heavily dependent upon the activities of the Department of Defense (DoD). As a result, changes in the level of those activities and their associated expenditures can produce large socio-economic impacts on the Hampton Roads area. This investigation will explore the relationship between variations in defense expenditures in Hampton Roads and variations in regional economic activity. The report will conclude with recommendations as to how the region may best prepare to meet future changes in local defense activities. Special emphasis will be given to the impacts created by changes in the number of military personnel living and working in the region.

The Hampton Roads Economy, Analysis and Strategies Part 2 - Cluster Study

In an effort to create a better blend of economic drivers in the region, this investigation scans the region’s economic environment to identify economic clusters that can be encouraged to locate/expand in Hampton Roads and produce a variety of positive benefits for the region’s economy.

The Hampton Roads Economy, Analysis and Strategies Part 3 - Modeling Simulation and Visualization

The primary objective of the economic impact study was to assess the overall economic impact of activity related to computational modeling, simulation and visualization (MS&V) within the Hampton Roads region of southeastern Virginia. This investigation was intended to describe the scope of MS&V activity within the Hampton Roads region, and concurrently, to provide a framework within which the impact assessment can be undertaken.

The Hampton Roads Economy, Analysis and Strategies Part 4 - Entrepreneurship in Hampton Roads

Efforts to enhance regional economies have resulted in the development of a variety of economic development strategies. These strategies, when viewed historically, are commonly referred to as “waves.” The first of these waves began in the 1930s and was focused on business recruitment. The second wave, begun in the 1980s, emphasized the retention and expansion of existing businesses along with the creation of new, entrepreneurial ventures. The third and final wave focused on building industry clusters, the creation of public-private partnerships, developing the skills of the work force, providing technical assistance, and developing capital networks. Today, most large communities like Hampton Roads pursue the full spectrum of these economic development activities. It is the entrepreneurial component of the second wave, i.e. the creation of new firms by entrepreneurs, that is the subject of the present document.

The Hampton Roads Economy, Analysis and Strategies Part 5 - Regional Benchmarking Study October 2005

The goal of this benchmarking study is to inform the leadership on trends and conditions in the Hampton Roads region. This report has been designed to capitalize on available information by collecting timely, relevant, and reliable data and presenting it in a simple and convenient manner.

The Hampton Roads Economy, Analysis and Strategies Part 6 - Conclusions and Recommendations

The current document is the final report in this series. It is designed to summarize and then extend several facets of the earlier analytical work and to suggest strategies for regional action. The report begins with a discussion of selected principles of regional economic planning and then concludes with a recommended list of strategies that can be used to improve the Hampton Roads economy.