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Front Matter: The State Of The Region, Hampton Roads 2025, 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 2025 The State of the Region Report authored by the Center for Economic Analysis and Policy at Old Dominion University.

Part 7: Hampton Roads' Collaborative Spirit Produces Regional Results, Dragas Center For Economic Analysis And Policy, Old Dominion University, Drew Lumpkin

State of the Region Reports: Hampton Roads

In this chapter, Drew Lumpkin, lead author, examines how collaboration has improved in Hampton Roads over the last two decades. He highlights specific examples of regional collaboration and how these efforts have changed the conversation in Hampton Roads.

Part 2: Defense, The Port, And Tourism: The Pillars Of The Economy, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

There was (mostly) good news to report about the pillars of the Hampton Roads economy in 2024. More defense spending flowed into the region in 2024, and defense spending is likely to increase in 2025 and 2026. The Port of Virginia experienced gains in traffic in 2024, but tariffs has created headwinds in 2025. The hotel industry’s growth has slowed, and increasing uncertainty may undermine prospects for growth in 2025 and 2026.

Part 3: Heads Carolina, Tails Somewhere Else, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

From 2021 to 2024, Hampton Roads grew more quickly and created jobs at a faster pace than the previous decade. Even after accounting for the impacts of inflation, real Gross Domestic Product (GDP), wages, and incomes were higher than 2019. The region’s economic performance relative to other metropolitan areas, however, has left much to be desired. One reflection of Hampton Roads economic performance has been the continued outmigration of residents to other locales in the Commonwealth and, in some cases, other states.

The State Of The Region: Hampton Roads 2025, Dragas Center For Economic Analysis And Policy, Old Dominion University, Vinod Agarwal, Josh Andrews, Andrea Barcenas, Leora Friedman, James V. Koch, Feng Lian, Anna Makhorkina, Melody Nguyen, Terry Parker, Mohamed Rahoui, Kara Sullivan, Jay Walker, Liam Ward, Robert Mcnab

State of the Region Reports: Hampton Roads

This is Old Dominion University’s 26th annual State of the Region: Hampton Roads 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 University, 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.

This year’s report provides an opportunity to reflect on the region’s economic performance since the COVID-19 pandemic and ask how changes in federal trade, immigration, civilian employment, and …

Part 1: Change Is The Only Constant: The Economy Of Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

We discuss how the region’s economy performed in 2024 and provide an assessment of the prospects for growth in 2025 and beyond. Rapid and significant changes in trade, immigration, tax, and expenditure policies will impact the economy of the region, state, and the nation in the coming years in unforeseen ways. We can, however, leverage historical data and experience to make informed judgements about the state of the regional economy and how it may fare over the coming year.

Part 4: The Economic Impact Of Norfolk International Airport, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Airports such as Norfolk International Airport (ORF) serve as economic engines connecting cities and regions to other localities and generate economic activity that would not otherwise occur in their absence. ORF set a record for commercial service passengers in 2019 before witnessing a dramatic fall in traffic in 2020 due to the COVID-19 pandemic. Arrivals and departures quickly recovered, and ORF set a new passenger traffic record in 2024. This chapter explores the economic impact of ORF on the economy of Virginia.

Part 5: Silver Tsunami For The Third Sector, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Affordable housing is only one of several societal stressors predicted to have nationwide impacts in conjunction with what has been dubbed the “Silver Tsunami,” a significant demographic shift occurring in the United States. According to Pew Research, every day, 10,000 members of the baby boomer generation—born between 1946 and 1964—reach retirement age. The implications of this demographic shift will impact every facet of life in Hampton Roads. This chapter explores how an aging population impacts nonprofits in Hampton Roads.

Part 6: Reflections On The State Of The Region Report, Dragas Center For Economic Analysis And Policy, Old Dominion University, James V. Koch

State of the Region Reports: Hampton Roads

In this chapter, Dr. James V. Koch, founding Director of the Dragas Center for Economic Analysis and Policy, reflects on the first 25 years of the State of the Region: Hampton Roads report. Dr. Koch provides insights on where the report has impacted the region. He also asks what the future may hold for the report.

The State Of The Region: Hampton Roads 2024, Dragas Center For Economic Analysis And Policy, Old Dominion University, Vinod Agarwal, Aliou Ousmane Ba, Elizabeth Janik, James V. Koch, Ria Kolarao, Steve Lawson, Feng Lian, Anna Makhorkina, Melody Nguyen, Mohamed Rahoui, Panagiotis Taoulas, Leiu Yuenyong

State of the Region Reports: Hampton Roads

This is Old Dominion University’s 25th 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.

The news, especially when compared to the previous decade, is mostly good. The region’s economy grew in 2023 and will likely grow for a fourth consecutive year in 2024. Even after …

Part 1: As Good As It Gets? The Economy Of Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Hampton Roads’ economy was a study in contrasts in 2024. For the first time in almost two decades, the regional economy grew in four consecutive years. A record number of individuals were in the civilian labor force and employed, and employers reported a record number of jobs. Job growth, however, lagged our peers. Now is the time to invest in key industry clusters to spur private-sector job growth in the region and build upon our recent economic fortunes.

Part 2: Defense, The Port, And Tourism: The Pillars Of The Economy, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

There was (mostly) good news to report about the pillars of the Hampton Roads economy in 2024. More defense spending flowed into the region. While cargo traffic declined at the Port of Virginia in 2023, the declines were mainly driven by outbound cargo traffic. The declines at the Port were also proportionally less than many other ports across the nation. Nominal hotel revenues continued to climb, but real hotel revenues fell in 2023 as occupancy rates dipped slightly. The hotel industry, however, continued to outperform the state and the nation.

Part 3: If You Zone It, They Will Come: Housing Supply In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

The recent rise in housing prices in Hampton Roads has priced many families out of the American dream of owning a home. Even though fewer houses sold in 2023, median single-family prices continued to rise. In this chapter, we discuss how policies and regulations may influence decisions to build and ask what can be done to increase the supply of housing in Hampton Roads.

Part 4: Public Libraries: Enriching Lives In Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Hampton Roads is home to 63 public libraries across 13 library systems. These public libraries do much, much more than simply lending books. Access is free, and everyone is welcome. This chapter provides an overview of Hampton Roads’ public libraries—how they function and how they are funded, and the diversity of services and resources they offer to our residents. We focus on the innovative ways that public libraries have evolved to meet their communities’ changing needs.

Part 5: Are Disability Rates Rising In Hampton Roads?, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

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 explore the differences in disability rates and workers across Hampton Roads.

Part 6: The Graying Of Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

In 2010, the median age of the resident population of Hampton Roads was 35.7 years. By 2019, the median age had increased to 36.8 years, rising to 37.1 years in 2021 and 37.3 years in 2022. The number of residents aged 65 and over continued to rise. How is Hampton Roads aging compared to Virginia and the United States? In this chapter, we explore how the region is aging, how it may age in the future, and how this may impact the region’s economic prospects.

Front Matter: The State Of The Region, Hampton Roads 2024, 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 2024 The State of the Region Report authored by the Center for Economic Analysis and Policy at Old Dominion University.

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 …

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 …

In Memoriam: Arthur Diamonstein, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Arthur Diamonstein, a former rector of Old Dominion University’s Board of Visitors, died in Norfolk on Aug. 14. He was 92.

Part 1: Inflation, Drones, And The Economy Of Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

2022 may be characterized as the “best of times and worst of times.” Unemployment continued to fall, wages continued to rise, and homeowners experienced rises in property values. Hotels continued to rebound from the COVID-19 economic shock and the Port of Virginia experienced record volumes of cargo traffic. On the other hand, prices at the grocery store, gas station, and, it seems, almost everywhere else, continued to rise. Employers struggled to find the right employees at the right time and economic sentiment soured. Russia’s invasion of Ukraine highlighted the continuing revolution in military affairs brought about by drones and other …