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Part 4: If You Can Make It There... You Can Make It Even Better In Virginia, Center For Economic Analysis And Policy, Old Dominion University Jan 2015

Part 4: If You Can Make It There... You Can Make It Even Better In Virginia, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

The good news is that the “real,” inflation-adjusted incomes of Virginians in nearly every area of the Commonwealth are higher than in nearly all comparable regions along the Atlantic Coast, including New York City.


Part 6: The Small-Business Story In Virginia: What A Quarter Century Of Data Reveal, Center For Economic Analysis And Policy, Old Dominion University Jan 2015

Part 6: The Small-Business Story In Virginia: What A Quarter Century Of Data Reveal, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Very small businesses in Virginia (those with fewer than 10 employees) have been holding their own, but many have found it difficult to grow beyond this size. Very small businesses now account for smaller proportions of total employment and payrolls in Virginia than was true 25 years ago. However, public policy changes can alter this situation.


Part 5: Fly Away With Me: A Look At Virginia's Airports, Center For Economic Analysis And Policy, Old Dominion University Jan 2015

Part 5: Fly Away With Me: A Look At Virginia's Airports, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

For several years, both passenger traffic and the number of available seats have been in decline at nearly all of the Commonwealth’s airports. Reagan/Washington National and Charlottesville are the major exceptions. Decisions made by the U.S. Congress have placed a particular burden on Dulles International.


Part 3: Digging Deeper: A Closer Look At Defense Spending In Virginia, Center For Economic Analysis And Policy, Old Dominion University Jan 2015

Part 3: Digging Deeper: A Closer Look At Defense Spending In Virginia, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

An estimated 11.8 percent of Virginia’s GDP depends upon defense spending. An important part of this are the contracts awarded to Virginia businesses by the Department of Defense. Two regions – Northern Virginia and Hampton Roads – account for 86 percent of these contracts.


Part 2: Northern Virginia: Standing At A Fork In The Road, Center For Economic Analysis And Policy, Old Dominion University Jan 2015

Part 2: Northern Virginia: Standing At A Fork In The Road, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Direct federal employment and procurement spending accounts for almost 40 percent of all economic activity in Northern Virginia, which in turn accounts for more than 40 percent of all economic activity in Virginia. Sequestration has hobbled Northern Virginia’s growth. However, George Mason University’s leading economic index suggests better times are on the horizon.


Part 1: The Virginia Economy Struggles To Cope With Economic Headwinds, Center For Economic Analysis And Policy, Old Dominion University Jan 2015

Part 1: The Virginia Economy Struggles To Cope With Economic Headwinds, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

The Virginia economy grew 0.02 percent in real terms in 2014, will grow only about 1.33 percent in 2015, and we forecast only a 1.98 percent growth rate in 2016. The villain in this scenario is stagnant or declining federal spending, especially defense spending.