Regional Economics Commons^™

Part 3: Does It Still Pay To Attend College In Virginia?, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

In 2022, more than 1 in 5 college graduates across the United States found themselves earning less than the national median income for high school graduates in the same graduating class year. In the same year, on average, 19.9% of graduates from four-year Virginia institutions of higher education earned less than the typical high school graduate 10 years after entry into college or university. In this chapter, we ask whether attending college is a ‘good deal’ for many Virginians.

Part 5: An Older Commonwealth, A Better Commonwealth, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

In this chapter, we examine how the population of Virginia has changed over time, with a specific focus on the resident population aged 65 and above. We break down the population aged 65 and above by sex and race and ask how these differences may impact the Commonwealth over time. We explore the characteristics of this population and discuss how Virginia is aging compared to its neighbors. We conclude with thoughts on how the ‘graying’ of Virginia may influence the demand for public goods and services in the future.

Front Matter: 2024 State Of The Commonwealth Report, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Cover, front matter, table of contents, sponsors, and other materials for the 2023 State of the Commonwealth Report authored by the Center for Economic Analysis and Policy at Old Dominion University,

Part 1: Virginia's Economy Grows, Will Consumers Remain Unhappy?, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

By many measures, Virginia will set several records in 2024. Economic activity across the state will surpass that observed in 2023 and will represent the fourth consecutive year of economic growth. More Virginians will have been at work or looking for work than in any other year. Yet, if one asks Virginians about the state of the economy, their views are decidedly more pessimistic.

Part 4: Rising Disability Rates (Or Not): A Sign That We Care Or An Epidemic Problem In The Commonwealth?, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

In this chapter, we examine one particular corner of a much larger disability story --- those individuals who have a work history and subsequently seek to receive income from the Social Security Administration because of that disability. Contrary to what many people believe, both the number of applications for worker disability and rates of approval of those applications have trended downward in recent years. We examine how worker disability rates have changed over time across the nation and Commonwealth.

Is West Virginia A Haven For Disabled Workers? An Evolving Story, James V. Koch, Robert M. Mcnab

Economics Faculty Publications

With a particular focus on West Virginia, this study utilizes state-level monthly panel data over 13 years (2010-2022) to examine the determinants of the rates of application of individuals for Social Security Administration disabled worker income payments (SSDI) and the initial recommendations of those applications for approval by the states. Application rates are particularly sensitive to the educational attainment of state populations and approval rates to economic conditions. However, in contrast to media coverage and public perceptions, both the number of applications for SSDI and approval rates have been declining nationally and in West Virginia.

Part 5: Virginia's Hotel Industry Grows, But Change Is Coming, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

This chapter assesses the performance of the hotel industry in the Commonwealth and discusses the challenges facing the hotel industry in 2024 and beyond. To understand the prospects for growth, we examine the recovery from the shock of 2020 and how different areas of the commonwealth fared with regard to hotel revenue and occupancy. We take stock of the competitive environment and how labor shortages continue to challenge hoteliers. We ask: what does the future hold for the hotel industry in Virginia?

Part 1: Virginia's Economy Grows, But Questions Linger About The Future, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

There is good news to report about the economy of the Commonwealth. Economic activity increased in 2022 and 2023. A record number of Virginians were at work or looking for work. Labor force participation increased above pre-pandemic levels. However, this news is tempered by the fact that Virginia grew slower than the nation and Virginians continue to migrate out of the Commonwealth. The Virginia economy should grow in 2024, but work remains to be done to match the economic performance of our peers.

Part 3: Virginia Is For Veterans, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Approximately 1 in 10 Virginian adults ages 18 years and older was a veteran of military service in 2021. The Commonwealth only ranked behind Alaska in the proportion of adults who identified as a veteran of military service in 2021. Virginia ranked first for the share of veterans in the adult population among states with populations greater than 1 million in 2021. Military veterans in Virginia, on average, are more educated than their civilian counterparts and have higher household incomes. The presence of military veterans and retirees not only provides talents to employers, but also generates billions of dollars of …

Part 4: Death And Dying In Virginia, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Death and taxes may be inevitable, but where we die is usually not a topic of public policy or discussion. Hospice care is the specialized treatment that provides support and comfort to patients who are terminally ill with a general life expectancy of six months or less. In this chapter, we take a close look at serious disease and hospice care in the United States and Virginia. We examine the demand for hospice care by Medicare beneficiaries as well as the changing nature of hospice care suppliers as now more than two-thirds of hospices nationwide operate as for-profit entities. We …

2023 State Of The Commonwealth Report, Vinod Agarwal, Aliou Ousmane Ba, Barbara Blake, James V. Koch, Ria Kolarao, Feng Lian, Anna Makhorkina, Melody Nguyen, Terry Parker, Mohamed Rahoui, Panagiotis Taoulas, Robert D. Mcnab

State of the Commonwealth Reports

This is Old Dominion University's ninth annual State of the Commonwealth Report. While it represents the work of many people connected in various ways to the University, the report does not constitute an official viewpoint of Old Dominion, its president, Brian Hemphill, Ph.D., the board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

Our work seeks to contribute to the conversation about how Virginia can foster growth across the Commonwealth without glossing over the challenges we face. Instead of retreating into partisan enclaves where …

Part 1: Growth Returns, Now Make It Last, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

There is some good news to report. Hampton Roads gained population but population growth continues to slow. A record number of residents were at work or looking for work in 2023. A record number of residents of the region reported they were employed in 2023. The number of jobs continued to recovery from the depths of the 2020 economic shock, however, a full recovery may not occur until 2024. Economic growth sharply rebounded from the declines of 2020, and we expect growth to continue in 2023. The region’s economic performance, however, continues to lag many of its peers.

Front Matter: The State Of The Region, Hampton Roads 2023, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Cover, Front Matter, Table of Contents, Sponsors, and other materials for the 2023 The State of the Region Report authored by the Center for Economic Analysis and Policy at Old Dominion University.

The State Of The Region: Hampton Roads 2023, Dragas Center For Economic Analysis And Policy, Old Dominion University, Vinod Agarwal, Aliou Ousmane Ba, Barbara Blake, Elizabeth Janik, Nikki Johnson, James V. Koch, Feng Lian, Terry Parker, Matt Voegel

State of the Region Reports: Hampton Roads

This is Old Dominion University’s 24th annual State of the Region Report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion, its president, Brian Hemphill, Ph.D., the Board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

Over the past year, we have experienced rising interest rates, persistent inflation, and the continued impact of geopolitical shocks on our daily lives. We live, for better or worse, in interesting …

Part 7: The Virginia Museum Of Contemporary Art: Challenges, Opportunities, And Economic Impact, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Museums are a part of the cultural life of a region and a component of the regional economy. The Virginia Museum of Contemporary Art in Virginia Beach is one such museum. The Virginia Museum of Contemporary Art (Virginia MOCA for short) is a cultural jewel that continues to provide the region with remarkable artistic resources and programming. In this chapter, we explore how museums can contribute to economic activity and explore the economic impact of the Virginia Museum of Contemporary Art.

Part 6: Should Taxpayers Subsidize Private Facilities In Hampton Roads? Glitz Vs. Reality, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Hampton Roads can learn from the experience of other cities and states. If there is a strong business case for a sports stadium, sports park, or entertainment venue, then investors should be able to tap into financial markets. In this chapter, we examine the arguments surrounding public investments in highly visible facilities. We pose questions that should be asked when considering such investments and explore the potential opportunity costs of these projects. We offer a cautionary tale that such projects are sold as transformative but often fail to generate the promised benefits, not only for taxpayers but also for the …

Part 4: Get On The Bus: Public Transportation In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

In many countries, public transportation is a cornerstone of urban life. In Hampton Roads, public transportation is in a moment of transition, sparked by technological change, pandemic disruptions, a growing emphasis on social equity, and a longer term loss of riders. In this chapter, we discuss who provides public transportation in Hampton Roads. We explore the economics of public transportation and ask what the future holds for public transportation in the region

Part 3: The Fourth Pillar: Veterans In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

In 2021, more than 1 in 10 residents of Hampton Roads identified themselves as a veteran of military service. Among these veterans, almost 1 in 3 were military retirees. With thousands of active-duty service members separating from service in Hampton Roads every year, we ask what is the impact of these veterans on the regional economy. We find that working-age veterans in Hampton Roads are more likely to participate in the labor force than their non-veteran counterparts and that the presence of veterans brings billions of dollars into the region.

Part 5: Death And Dying In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Death and taxes may be inevitable, but where we die is usually not a topic of public policy or discussion. Hospice care is the specialized treatment that provides support and comfort to patients who are terminally ill with a general life expectancy of six months or less. In this chapter, we take a close look at serious disease and hospice care in the United States and Virginia. We examine the demand for hospice care by Medicare beneficiaries as well as the changing nature of hospice care suppliers as now more than two-thirds of hospices nationwide operate as for-profit entities.

Part 2: The Pillars Of The Hampton Roads Economy Remain Strong, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Hampton Roads is a region rich with assets – a talented and diverse labor force, a distinctive role in the national security of the nation, a deep-water port that continues to set records, and beaches and amenities that attract visitors from near and far. The region’s economic performance is closely aligned with these assets. Defense spending, the Port of Virginia, and the hospitality and tourism industry are often referred to as the “Three Pillars” of the Hampton Roads economy – pillars that have continued to perform well in the aftermath of the economic shock of 2020. In this chapter, we …

Part 2: A Recovery In Progress: Virginia's Go Virginia Regions, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

For some areas of Virginia, the recovery from the economic shock associated with the COVID-19 pandemic has been robust, with evidence emerging of a new expansion in economic activity in 2023. For other areas of the Commonwealth, the recovery would be best characterized as anemic. As we conclude 2023 and look forward to 2024, the economic fate of the Commonwealth looks increasingly bifurcated, with economic activity and population concentrated in a handful of regions. Now, with evidence of a “soft landing” from the turbulence of 2022 increasingly evident, the open question remains: can we spur economic growth across the state?

Electrical Equipment Industry Cluster, Pragati Gautam

2022 REYES Proceedings

The growing collaboration between two or more industries in a specific region in which they work in a symbiotic relationship, providing benefits to each other and contributing in the overall development of the region, is what is popularly known as business clusters. Even though this concept is commonly known and implemented in the West, South Asian economies are unfamiliar with the advantages of this unique business strategy. There are, undeniably, many potential business clusters in these developing countries, which if tapped efficiently, could result into an industrial boom.

This research focuses on investigating the existence of a business cluster in …

Part 3: Who's At The Bedside? Does Virginia Have Enough Nurses?, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

In 2021, nurses ranked again as the most trusted profession in the United States. Yet, even though many Americans view them favorably, nurses have been the target of conspiracy theories, verbal abuse, and physical violence. As more nurses report symptoms of burnout and some are quitting the profession entirely, we explore the coming shortage of nurses in Virginia and ask what factors limit the supply of nurses.

Front Matter: 2022 State Of The Commonwealth Report, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Cover, front matter, table of contents, sponsors, and other materials for the 2022 State of the Commonwealth Report authored by the Center for Economic Analysis and Policy at Old Dominion University.

Part 5: A Deeper Dive Into The Blacksburg-Christiansburg Metropolitan Area, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

The Blacksburg-Christiansburg metropolitan statistical area includes the counties of Giles, Montgomery, and Pulaski as well as the independent city of Radford. Virginia Tech, with over 37,000 full-time equivalent students in the 2021–2022 academic year, is not only the largest employer in the metro area, but it continues to expand its reach across the Commonwealth. We highlight how the metro region has fared over the last decade and discuss the prospects for future growth.

2022 State Of The Commonwealth Report, Vinod Agarwal, Barbara Blake, Bojana Bolozan, Ashley Desilva, Nikki Johnson, James V. Koch, Timothy M. Komarek, Feng Lian, Sharon Lomax, Christian Manty, Janet Molinaro, Brendan O'Hallarn, Terry Parker, Matt Voegel, Suzanne Wright, Robert M. Mcnab

State of the Commonwealth Reports

This is Old Dominion University’s eighth annual State of the Commonwealth Report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion, its president, Brian O. Hemphill, Ph.D., the Board of Visitors, the Strome College of Business, or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

Our work seeks to contribute to the conversation about how Virginia can foster growth across the Commonwealth over the coming decade without glossing over the challenges we face. Instead of …

Part 4: Virginia's Lawyers Confront Tougher Times, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

While movies and television shows portray lawyers as members of high society, with expensive cars and tastes, the reality is grittier. In 2021, more than 90% of law students took out a loan to enable them to pay their costs, and the typical law school graduate owed $165,000 in loans. The crucial point of this report, however, is that significant proportions of law school graduates are destined to be disappointed if they pursue a career in law believing they will earn lots of money. In this chapter, we explore the supply of lawyers in Virginia and whether we are producing …

Life In Hampton Roads Survey Press Release #3: Economy & Employment, Social Science Research Center, Old Dominion University

Life in Hampton Roads Survey Report

Life in Hampton Roads 2022 - Economy & Employment

Hampton Roads residents had mixed perceptions of the economy but showed some optimism about their own financial situation. Less than half (42.4%) of those surveyed rated the economic conditions in Hampton Roads as excellent (3.1%) or good (39.3%). A similar percentage (42%) rated economic conditions as fair and 14.6% rated them as poor. Interestingly, despite the impacts of COVID-19, these ratings are not much different than in past years of the survey, during or prior to the pandemic. For example, in 2021, 47.5% rated economic conditions as excellent or good and …

Front Matter: The State Of The Region: Hampton Roads 2022, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Cover, Front Matter, Table of Contents, Sponsors, and other materials for the 2022 The State of the Region Report authored by the Center for Economic Analysis and Policy at Old Dominion University.

The State Of The Region: Hampton Roads 2022, Dragas Center For Economic Analysis And Policy, Old Dominion University, Vinod Agarwal, Christen Black, Barbara Blake, Bojana Bolozan, Ashley Desilva, Joseph Hollar, Elizabeth Janik, Nikki Johnson, James V. Koch, Tim Komarek, Feng Liang, Sharon Lomax, Christian Manty, Janet Molinaro, Christian Moore, Brendan O'Hallarn, Terry Parker, Matt Voegel, Suzanne M. Wright

State of the Region Reports: Hampton Roads

[From the introductory material]

This is Old Dominion University’s 23rd annual State of the Region Report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion, its president, Brian O. Hemphill, Ph.D., the Board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

Over the past year, we have experienced the continued uncertainty of the COVID-19 pandemic, the rise of inflation, and geopolitical shocks that have affected our daily …