From the President

We are Hampton Roads.

But we are much more than a name, regional descriptor or promotional tagline. We are a collection of unique, distinctive community brands that comprise the economic geography known as Hampton Roads. That’s who we are and how we must go to market. That’s what we are and how we must present this area to encourage new investment promotion opportunities. Attracting new investment to Hampton Roads is vital to the continuation of our economic viability and lifestyle attractiveness. A decade has passed since the last recession, and during that time, job creation and full economic recovery has been slow in coming. Fewer people work in Hampton Roads today than in 2007. Those who find new jobs often find they pay lower salaries with fewer benefits. Each year, more people leave our region and its communities than move into our region and its communities. Now, more than ever before, we have to work together to turn this around. We have to work together to attract new investment, new companies, new jobs and new talented workers. In 2018, the Alliance, as the region’s lead economic development agency, is organized to do just that. We are launching a new investment promotion strategy focusing business attraction efforts on a select group of target industries in which we enjoy a competitive advantage. Market research into our competitive position will enable us to prepare clear business cases for each sector outlining just what our competitive position is and why a company should consider us for new investment. This will be completed in early 2018 and form the basis for an evidence-based, next-generation marketing and business development program. Within our resource capabilities, we will execute a cost-effective, next-generation digital marketing delivery system that supports our communities’ and region’s unique strengths, perspectives and future needs. The new 2018 marketing plan will be augmented with what we know to be the most effective approach: face-to-face customer engagement and direct sales promotions. Armed with new collateral materials and an evidence-based business case, our business development team will work with our local and state partners to take our message directly to site location consultants and decision-makers around the world.

As always, our efforts are focused on delivering measurable results and a positive ROI to our region, our community partners and our investors. As a region, we can’t afford to sit still any longer. We need new investment and job creation, and we need it now. That is why we remain committed to a five-year job creation strategy and plan — a plan designed to return the region to a positive growth trajectory. Now, more than ever before, we need your help, your support and your engagement. We cannot do it alone, because we recognize that working together is really the best way to get important things done.

Rick Weddle President & CEO

Sources: Population: U.S. Census Bureau, Population Division - Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016 Prime-Age Population & Participation Rate: U.S. Census Bureau, 2012-2016 American Community Survey 5-Year Estimates Civilian Labor Force: U.S. Bureau of Labor Statistics, retrieved from Federal Reserve Bank of St. Louis– 2016 Annual Estimate Employment by Industry: Economic Modeling Specialists International, Q4 2017 Class of Worker

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