DATA-DRIVEN SUPPORT The Business Intelligence Department serves as the nexus of information and analysis at the Alliance. The team, headed by Steve Harrison, Vice President, with support from Jonathan Holman, Director, research what makes the business environment of Hampton Roads ideal for companies. They evaluate these advantages through the lens of the Alliance’s target industry sectors and disseminate it via a wide variety of platforms. Prospective companies receive a customized report answering all questions they may have related to doing business in Hampton Roads, while existing companies considering expansion are provided with real estate data, demographics, and workforce data that is critical to their future growth. In addition, investors, both public and private, call on Alliance Business Intelligence to assist in answering a wide variety of questions about the region. With access to industry leading software, the team can provide customized demographic reports, maps, real estate site searches, and workforce development information. A critical component of the department’s work is coordinating with the Alliance’s locality partners, thus ensuring that all 11 localities and the Alliance are providing a unified, cohesive set of information about the region. In 2020, the department responded to more than 100 requests for assistance from these partners, ranging from requests for real estate searches to in-depth analyses on target industry clusters and the economic impact of business expansions.
2020 REGIONAL INDUSTRIES SPOTLIGHT LARGEST INDUSTRY:
HEALTHCARE
LARGEST OCCUPATION:
OFFICE & ADMINISTRATIVE SUPPORT
FASTEST GROWING INDUSTRY:
HEALTHCARE
REGIONAL DEMOGRAPHIC INDICATORS
394,478
498,105
Hampton Roads has 394,478 millennials (ages 25-39). The national average for an area this size is 364,729.
Retirement risk is about average in Hampton Roads. The national average for an area this size is 520,094 people 55+, while the 757 has a comparable 498,105 in that age cohort.
TOP INDUSTRY GROSS REGIONAL PRODUCT:
MANUFACTURING
FASTEST GROWING WORKFORCE:
BUSINESS & FINANCIAL OPERATIONS
210,818 Hampton Roads has 210,818 veterans, more than twice the national average for an area this size, which is 100,482.
797,961 Racial diversity is above average in Hampton Roads. The national average for an area this size is 705,605 racially diverse people compared to 797,961 locally.
Source: EMSI 2020. Note: Does not include government. 2020 ANNUAL REPORT 33