Economics Commons^™

Part 3: The State Of The Regional Economy, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

(First Paragraph) Many factors come into play when predicting the future of the Hampton Roads economy. Defense spending, non-defense-sector growth and a commitment to collaboration among private and public high-tech industries are three very large variables that contribute to the region's pulse and prospects for long-term health. All of these factors, as we will see here, are interconnected. Per capita income, often used to measure a region's economic well-being, should continue to exhibit "baseline improvement" in Hampton Roads, but if the standard of living is to rise above average, some changes would need to be made to the region's economic …