Economy Summary
Economic competitiveness yields income and job growth for residents of the Hampton Roads region. The quality of the region's economy directly affects businesses, citizens, and institutions. Highlights of the Hampton Roads regional economy include:
- While employment growth has slowed over the last year, jobs continue to be added to the Hampton Roads economy.
- The rate of growth in per capita income in the Hampton Roads metropolitan area is outpacing the national average.
- Three Hampton Roads colleges and universities rank in the top 200 nationally for science and engineering research expenditures.
- The Port of Hampton Roads is widely touted as one of the top deepwater harbors on the East Coast.
- The Hampton Roads metropolitan area, home to more than one million residents, lost population between 2007 and 2008.
The economic indicators help to assess the progress that the region is making and understand the key elements that influence economic competitiveness for the region.
