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Part 1: Back To Earth: The Regional Economy Slows Down, Regional Studies Institute, Old Dominion University
Part 1: Back To Earth: The Regional Economy Slows Down, Regional Studies Institute, Old Dominion University
State of the Region Reports: Hampton Roads
After a spectacular first half of this decade, the regional economy decelerated in 2007. A combination of declining rates of growth in defense spending, the closing of the Ford Norfolk Assembly Plant and a sluggish national economy reduced the growth of the regional economy to the national average. Looming base realignment and closure reductions beginning in 2008 bode to continue this trend.