2025 Annual Report by Hampton Roads Alliance

A NEW ECONOMIC ERA

Virginia Beach hosts

Dave Soldow, HII

Virginia VIP Reception in London, England

WELCOME

2025 set a new standard for Hampton Roads and the Alliance.

The Alliance supported 22 business announcements totaling $1.18 billion in capital investment, breaking records set just a year earlier and marking the strongest year for both total announcements and capital expenditure in the organization’s history. The pace of activity continued to build, reflecting growing confidence in the region’s direction and execution. Companies like LS Cable and LS GreenLink embodied that momentum, first announcing the largest single industrial investment in Hampton Roads history in 2024 and then returning in 2025 to make an additional major investment, reinforcing the region’s long-term competitiveness and credibility.

That momentum did not emerge overnight. The success of 2025 capped off a defining new economic era for Hampton Roads.

Together, we set out to change how our region competes. We challenged ourselves to move beyond fragmented efforts and short-term wins and instead build a shared understanding of who we are, what we do best, and how we win in a rapidly changing global economy. Over the past five years, Hampton Roads has delivered record levels of business announcements, job creation, and capital investment, confirming that a more aligned, strategic approach works. The full story of that progress is detailed in the pages that follow.

But this moment is about more than numbers.

The real achievement of the last five years has been clarity. As global priorities shifted toward national security, energy resilience, advanced manufacturing, and supply chain strength, Hampton Roads did not chase trends. We defined our strengths. We took an honest look at our assets, our challenges, and our opportunities, and we aligned around a strategy rooted in what makes this region exceptional.

That work culminated in the Hampton Roads Playbook and its guiding principle: Strengths Defined, Strategies Aligned. The Playbook is our collective commitment to focus, discipline, and execution. It organizes our region around four core industries that anchor our economy and shape our future: Defense, Energy, Aerospace, and Logistics. These industries are not new to Hampton Roads. They are deeply embedded in our history, our workforce, and our identity. What is new is our shared resolve to go deeper, move faster, and compete together.

The next chapter is already underway. The Playbook shifts our region from planning to action, from aspiration to delivery. It calls on us to launch transformative projects, align investment and policy, and build the workforce, infrastructure, and innovation systems required to compete at scale. It asks every city and county, every institution, every employer, and every partner to run the same plays and keep score together.

The opportunity in front of Hampton Roads is real, and it is urgent. The future will not wait, and it will not be won by regions that hesitate or fragment. With strengths defined and strategies aligned, Hampton Roads is on offense. The future is ours to claim, and together, we are ready to take it.

Douglas L. Smith

Robert S. Duvall President & CEO 2025 Alliance Chair

Duvall, Alliance Chair at Mid-Year Mixer

ABOUT

The Hampton Roads Alliance is the leading regional economic development organization for Hampton Roads, Virginia. It is a nonprofit, public-private partnership representing 15 localities and 100+ private investors. With the support of its community and business partners, the Alliance serves as a single point of contact to assist domestic and international companies who are considering Hampton Roads for expansion and investment.

OUR MISSION

The Hampton Roads Alliance works collaboratively to lead the Hampton Roads region in attracting, growing and retaining companies and talent to create a more resilient, inclusive and equitable region of choice.

Robert

LEADERSHIP

The Alliance is guided by a diverse and highly engaged Board of Directors made up of mayors and county chairs, private-sector CEOs and executives, and ex-officio leaders who collectively help shape the organization’s strategic direction. In parallel, the Regional Economic Development (RED) Team brings together each locality’s economic development director, along with regional partners and utilities, to work hand-in-hand with the Alliance to advance shared economic priorities across Hampton Roads. We are grateful to the following leaders for their commitment, collaboration, and service to the Alliance in 2025.

BOARD OF DIRECTORS

Virginia Natural Gas

Mr. Robert Duvall, Chair

TowneBank, Virginia Beach

Ms. Buffy Barefoot, Vice Chair

Sentara Health

Mr. Aubrey Layne, Treasurer

Amazon

Ms. Lindsay Winter

Dominion Energy

Mr. William Murray

Fairlead / The Miller Group

Mr. Jerry Miller

Hampton University

Gen. Darrell Williams

W. M. Jordan

Mr. John Lawson

RED TEAM

Chesapeake Economic Development

Mr. Steven Wright

Franklin Southampton Economic Development, Inc.

Mr. Karl Heck

Hampton Economic Development

Mr. Leonard Sledge

Isle of Wight County Economic Development

Ms. Kristi Sutphin

James City County Economic Development

Mr. Christopher Johnson

New Kent County Economic Development

Ms. Lindsay Hurt

Newport News Department of Development

Ms. Florence Kingston

City of Chesapeake

Honorable Richard W. West

City of Hampton

Honorable James A. Gray Jr.

City of Newport News

Honorable Phillip D. Jones

City of Norfolk

Honorable Kenneth C. Alexander, Ph.D.

City of Virginia Beach

Honorable Robert M. Dyer

City of Portsmouth, At Large Representative

Honorable Shannon E. Glover

James City County, At Large Representative

Honorable Ruth Larson

City of Hampton

Ms. Mary Bunting, CAO Chair

City of Williamsburg

Ms. Yuri Matsumoto, RED Team Chair

Hampton Roads Alliance

Mr. Douglas Smith, Secretary

Hampton Roads Executive Roundtable

Ms. Nancy Grden

Hampton Roads Workforce Council

Mr. Shawn Avery

Ferguson Enterprises

Mr. Keith Vander Vennet, Past Chair

Willcox Savage

Mr. James Wood, General Counsel

Norfolk Economic Development

Mr. Sean Washington

Poquoson Economic Development

Ms. Tonya O’Connell

Portsmouth Economic Development

Mr. Brian Donahue

Suffolk Economic Development

Ms. Janet Days

Virginia Beach Economic Development

Ms. Amanda Jarratt

Williamsburg Economic Development

Ms. Yuri Matsumoto

York County Economic Development

Ms. Kristi Olsen-Hayes

Dominion Energy

Mr. Bryan Smith

Hampton Roads Planning District Commission

Mr. Robert Crum

Hampton Roads Executive Roundtable

Ms. Nancy Grden

Hampton Roads Workforce Council

Mr. Shawn Avery

Port of Virginia

Ms. Laura Swankler

Virginia Natural Gas

Mr. Kenneth Magee

AN ERA OF IMPACT BUSINESS DEVELOPMENT

Senator Tim Kaine and Congressman

Bobby Scott visit

Fairwinds Landing City of Norfolk

DEFSEC Atlantic Halifax, Nova Scotia

The Alliance supported 22 business announcements totaling $1.18 billion in capital investment, breaking records set just a year earlier and marking the strongest year for both total announcements and capital expenditure in the organization’s history. The pace of activity continued to build, reflecting growing confidence in the region’s direction and execution. Across 2025, the Alliance’s work delivered a broad mix of largescale industrial investments, corporate expansions, and strategic relocations, resulting in over 2,450 new jobs across Hampton Roads. Projects spanned advanced manufacturing, energy, logistics, defense, and corporate services, underscoring the region’s economic diversity and resilience.

Several announcements stood out for their scale and impact. LS Cable & System Ltd’s $689 million investment and 433 jobs in Chesapeake represented one of the most significant economic development wins in Virginia in recent years and comes just one year after the company’s initial announced investment of $681 million in Chesapeake. Target Corporation’s $245 million investment in New Kent County and the expansion of Virginia Natural Gas further highlighted the region’s growing role in logistics and energy, while major manufacturing announcements from companies such as Acoustical Sheetmetal, Colonna’s Shipyard, and TST Fabrication reinforced its strength in industrial and maritime-related sectors.

Geographically, activity was well distributed across the region, with strong results in Chesapeake, Hampton, James City County, New Kent County, Norfolk, Portsmouth, and Virginia Beach. Chesapeake led in total capital investment and job creation, while Norfolk and Virginia Beach continued to attract a steady pipeline of engineering, fabrication, and professional services projects. Smaller announcements, including early-stage firms and single-job headquarters investments, reflected a healthy development ecosystem supporting both large employers and emerging businesses.

Taken together, 2025 demonstrated not only record-setting performance, but also consistency, depth, and followthrough. Repeat investments, a growing mix of sectors, and increasing project scale signal that Hampton Roads is no longer just competing for projects — it is increasingly being selected for long-term, transformational investments.

Cable & System Press Briefing Automatic Coating Ltd. Expansion City of Suffolk

SUPPORTED ANNOUNCEMENTS

A YEAR OF ENGAGEMENT, STRATEGY, AND MOMENTUM EVENTS,

Throughout 2025, the Alliance advanced its mission to drive economic growth, strengthen regional collaboration, and position Hampton Roads as a competitive destination for investment, talent, and innovation. The year was marked by strategic events, new initiatives, global outreach, and recognition of leadership — all contributing to the region’s momentum and long-term economic narrative. A few key highlights include:

Economic Development Engagement &

Business Outreach

DSEI / London Mission

The Alliance attended Defence and Security Equipment International (DSEI), the biennial defense and security exhibition held in London, which convenes governments, national armed forces, industry leaders, and academic institutions from around the world. As part of its engagement, the Alliance co-hosted a VIP reception aboard the historic HMS Belfast alongside the Virginia Economic Development Partnership and Virginia Beach Economic Development, bringing together Virginia companies and international defense organizations. The event provided a high-profile platform to strengthen global relationships, elevate Hampton Roads’ role within the defense and maritime ecosystem, and advance conversations around international collaboration, supply chain integration, and investment opportunities aligned with allied security priorities.

Indo-Pac / Australia Mission

ACTIVITIES & INITIATIVES

The Alliance participated in the Indo-Pacific International Maritime Exposition as part of a Defence Teaming Centre–hosted session focused on connecting Australian suppliers to U.S. defense supply chains through Hampton Roads and the Commonwealth of Virginia. The session brought together the presidents and CEOs of the Hampton Roads Alliance, the Virginia Economic Development Partnership, and the Hampton Roads Workforce Council to highlight the region’s role as a global naval shipbuilding hub, anchored by 19 military installations and a $15 billion defense economy. Presentations showcased Virginia’s “soft landing” program for international firms and the Hampton Roads Maritime Training System, which produces thousands of skilled workers annually through industry-led partnerships. Discussions also addressed challenges such as export controls and compliance, underscoring the importance of collaboration and shared standards under AUKUS to accelerate trans-Pacific industrial integration and create trusted pathways for Australian companies to compete and contribute within global defense supply chains. Alliance Chief Business Development Officer Jared Chalk participated on a panel at the conference that also featured Huntington Ingalls’ Dave Soldow, who was the keynote speaker for the Alliance’s Annual Meeting, alongside H&B Defence, Australia Submarine Corporation and Austrade.

FABTECH 2025 Participation

Alliance Director of Business Development, Henry Gaston attended FABTECH in Chicago to showcase the region’s competitive advantages in logistics, advanced manufacturing, and related industries. The delegation connected with companies and initiated follow-up outreach aimed at potential relocations or expansions in Hampton Roads.

SelectUSA Investment Summit Representation

Hampton Roads was highlighted on the global economic development stage through participation in the 2025 SelectUSA Investment Summit and associated spin-off event. Regional leaders promoted Hampton Roads to international investors, underscoring its strategic advantages for global investment.

International Missions

The Alliance’s Matt Smith, joined by James City County’s Chris Johnson and Virginia Beach’s Dominique DeBose, led a weeklong marketing mission to Norway. Matt and the team met with companies aligned with the DEAL industries outlined in the Hampton Roads Playbook including Kongsberg Defense and Aerospace, Inc., which is investing more than $100 million to build a missile manufacturing facility in James City County.

Amy Parkhurst, Senior Vice President of Business Development, led a call trip to Montreal accompanied by local economic developers Sherry Barnette, Chesapeake and Maurice Leary, Hampton. Meetings were held with 6 companies representing the technology and aerospace sectors to promote the benefits of expanding their operations in Hampton Roads.

Business Retention & Expansion

Business Retention & Expansion (BRE) efforts remained a core priority for the Alliance in 2025, with a continued focus on supporting existing employers and strengthening relationships across the region. The Alliance convened the Regional Business Retention & Expansion Professionals Roundtable four times this year, creating a forum to equip local and regional economic development partners with the tools, shared intelligence, and resources needed to effectively support existing

Irish Ambassador Geraldine Byrne Nason at CEL Announcement James City County

Indo Pacific International Maritime Expo Sydney, Australia

VEDA Fall Conference Defence SA Reception on Elizabeth River

FDI Mission Oslo, Norway

businesses. These discussions allowed practitioners to align strategies, troubleshoot challenges, and elevate best practices across jurisdictions. In partnership with localities, the Alliance supported expansion activity within key industry sectors— including defense, manufacturing, and logistics—while also supporting industryfocused roundtables and participating in workforce advisory sessions throughout the region. Collectively, these efforts reinforced a collaborative, region-first approach to BRE, helping ensure that companies already invested in Hampton Roads remain competitive, connected, and positioned for long-term growth.

Leadership Recognition & Narrative Building

Doug Smith Recognized on 2025 Icons List

Alliance President & CEO Doug Smith was honored by Virginia Business Magazine on its 2025 Icons List — a statewide acknowledgment of his career — reflecting both his impact on economic development and his role in shaping Hampton Roads’ development trajectory.

Michael Evans Named CoVaBIZ NextGen

Honoree

Alliance Director of Business Intelligence Michael Evans was recognized as a 2025 CoVaBIZ NextGen Honoree, highlighting his emerging leadership and data-driven contributions to advancing economic growth and competitiveness.

Keynotes, Panels & Other Engagements

Alliance Chief Operating Officer Steve Harrison delivered a commencement address at William & Mary, emphasizing leadership, community impact, and the nexus of education and economic opportunity — spotlighting regional priorities beyond traditional press releases.

Vice President of Business Retention & Expansion, Toi Hunter served as Secretary of the Virginia Economic Developers Association (VEDA), while Director of Business Intelligence, Michael Evans was featured as a panelist during the VEDA Spring Conference. The panel, The Power of Data: Leveraging Research Tools for Impactful Storytelling gave insights on how economic developers can turn data into clear, persuasive stories that drive decisions, attract investment, and shape the future of their communities.

Director of Emerging Industries & Water Technology Matt Smith sat on a panel with Congresswoman Jen Kiggans to discuss how energy production is creating economic growth opportunities for Hampton Roads.

President & CEO Doug Smith participated in the Global Institute on Innovation Districts Summit in Monterrey, Mexico, allowing the region to connect with global peers on innovation ecosystems and position Hampton Roads as a hub for dual-use and emerging technologies.

In November, the Alliance partnered with the W&M@Work for a panel presentation on the Hampton Roads Playbook. The panel, moderated by Michael Evans, shared how the W&M community can help bring Playbook strategies to life, and get involved with major projects shaping our future.

Innovate Hampton Roads Start Up World Cup - Virginia

Faciilty Tour at VEEM Ltd’s HQ Perth, Australia

FABTECH 2025 Chicago, IL

AN ERA OF ALIGNMENT

THE

HAMPTON ROADS PLAYBOOK

Mayor Oliver Coppard, South Yorkshire England

DEAL Power Panel at Playbook Launch

U.S. Congresswoman Jen Kiggans

STRENGTHS DEFINED, STRATEGIES ALIGNED

In 2025, the Alliance created and unveiled the Hampton Roads Playbook, a comprehensive regional economic strategy designed to align leaders, institutions, and investments around a shared vision for long-term prosperity. This work was funded by the Hampton Roads Alliance, the Hampton Roads Workforce Council, and a planning grant from GO Virginia, which enabled the Alliance to engage Bruce Katz and his team at New Localism Advisors. Their work included a rigorous regional diagnostic and the development of a datadriven regional investment strategy grounded in Hampton Roads’ distinctive assets, challenges, and opportunities.

Katz posited that, post-COVID, the American economy was shifting toward three imperatives: remilitarizing, reshoring, and re-energizing. He found that Hampton Roads stands at a critical inflection point as national priorities around defense, energy security, advanced manufacturing, and technology innovation reshape economic opportunity. Additionally, he notes that the region benefits from a significant federal footprint that averages $15.6 billion annually in contracts and grants. The diagnostic underscores the region’s unique constellation of assets — including substantial shipbuilding and repair capacity, world-class defense installations, major research institutions such as NASA Langley and Jefferson Lab, and global logistics infrastructure — that together form a robust foundation for growth.

The Hampton Roads Playbook builds upon the new economic reality defined by Katz and creates the DEAL Framework as a foundation, where DEAL stands for defense, energy, aerospace, and logistics. The Playbook seeks to emphasize our strengths and deliberately focus on deepening and accelerating growth in those four core sectors. Playbook Projects can be created that fall within one of these four core sectors and strengthen one of four crosscutting growth drivers: workforce, innovation, infrastructure, and supply chain. The Playbook identified eight initial, high-impact projects, each with clearly identifiable leadership and the potential to deliver tangible economic results. These projects were selected because they are feasible, scalable, and capable of advancing regional collaboration while producing measurable outcomes for growth, competitiveness, and resilience. Read more about the projects by flipping open the follow page.

More than a standalone plan, the Hampton Roads Playbook serves as a unifying regional strategy and a common baseline for related efforts, including the GO Virginia Region 5 Growth and Diversification Plan. By providing shared goals, metrics, and priorities, the Playbook helps ensure that regional strategies are aligned rather than fragmented.

The Playbook was officially unveiled at a regional launch event in October that drew approximately 700 attendees, reflecting unprecedented interest and engagement from leaders across Hampton Roads. A DEAL power panel including Rear Admiral (ret.) Chip Rock, Dominion Energy Senior Vice President Bill Murray, Virginia Institute for Spaceflight and Autonomy (VISA) Executive Director Yiannis Papelis, and Port of Virginia CEO Stephen Edwards discussed their respective sectors and why the time is right for doubling down on growth within them. South Yorkshire, England Mayor Oliver Coppard also joined the panel and discussed how his community created a world-class manufacturing center that serves as a best practice example for Playbook Projects and how our two regions can work together through the AUKUS trilateral agreement. The event concluded with a call to action for the business leaders, elected officials, educators, nonprofit partners, and community members in attendance to come together to demonstrate support for the strategy and a shared commitment to moving from vision to implementation.

Since the launch, the Alliance has focused on execution and continuous improvement. Next steps include formally launching and tracking the initial projects, establishing a steering committee to guide implementation and accountability, and identifying additional high-impact initiatives to be added over time. Through this ongoing work, the Hampton Roads Playbook will remain a living strategy that evolves with the region while keeping stakeholders aligned around a common economic future.

To support the Playbook, the Alliance launched a new website to serve as a centralized platform that showcases regional assets, priority sectors, and long-term economic development strategy. The full Playbook and all supporting materials are available online at hamptonroadsplaybook.com or by scanning the QR code shown right.

THE DEAL FRAMEWORK

The Hampton Roads Playbook identified four core industries that our region can build upon in order to achieve unprecedented economic growth: Defense, Energy, Aerospace, and Logistics — also known as DEAL. These industries are supported by cross-cutting growth drivers including workforce, innovation & technology, sites & infrastructure, and supply chain development to create a framework for investment. Any project that fall within one of the DEAL industries and support a growth driver can be added to the Playbook.

DEFENSE

ENERGY AEROSPACE

WORKFORCE

INNOVATION & TECHNOLOGY

SITES & INFRASTRUCTURE

SUPPLY CHAIN

REGIONAL ASSET MAP

This year, the Hampton Roads Alliance advanced a major priority of the Regional Investment Playbook with the development of the Hampton Roads Asset Map: a strategic, data-driven, and interactive tool designed to catalog, visualize, and communicate the region’s competitive strengths. The Asset Map emerged from a clear need to move beyond anecdotal storytelling toward a more unified, place-based understanding of the defense, energy, aerospace, and logistics assets that underpin Hampton Roads’ priority industries.

Historically, much of the region’s asset knowledge resided across multiple organizations, datasets, and formats, making it difficult – as a region – to consistently translate strategy into action or present a cohesive narrative to prospects. The Asset Map was developed to address that gap by creating a shared, publicly-accessible foundation that supports both regional decision-making and external engagement.

The Hampton Roads Asset Map was built through a deliberate, collaborative process led by the Alliance and informed by close coordination with localities and regional subject matter experts. In concert with these partners, the Alliance worked to identify, categorize, and layer our assets to reflect the infrastructure, facilities, institutions, and industry capabilities most critical to business attraction and expansion. Throughout the development process, emphasis was placed on consistency, accuracy, and usability, ensuring the tool could support strategic analysis as well as real-time prospect conversations.

As a core input to the Playbook, the Hampton Roads Asset Map strengthens alignment across the region by providing a common operating picture for strategy, business attraction, and partner coordination. Further, it enhances the Alliance’s ability to tell a clear, compelling story grounded in data and geography. As we move ahead, the Asset Map will remain a living tool that evolves through the addition of new layers and expanded datasets as market conditions and regional priorities change. The Asset Map is available on hamptonroadsplaybook.com or by scanning the QR code shown on the right.

757 Collab Defense Technology Accelerator

What: In partnership with NavalX Mid-Atlantic Tech Bridge, the Defense Technology Accelerator (DTA) propels early-stage companies to scale breakthrough technologies for the Navy and Marine Corps.

Why: DTA is designed to propel high potential startups in critical technologies into the DoD contracting space and equip them with the tools to bring cutting-edge solutions to the warfighter faster.

Impact: By supporting innovation in critical technologies, DTA can shape the future of national defense.

Leader: Paul Nolde, President & CEO, 757 Collab

Elizabeth River

Eastern Branch Dredging

What: Led by the Virginia Maritime Association, this project focuses on dredging the eastern branch of the Elizabeth River to ensure maritime readiness.

Why: This project would provide the U.S. Navy immediate access to additional certified dry docks, which ultimately produces enormous fleet readiness gains, competitive cost savings, and helps meet the force-level goals of the U.S. Navy.

Impact: This modest investment will provide a return on investment of hundreds of millions of dollars in critical Navy readiness and a 40% increase in NAVSEA certified dry docks.

Leader: David White, Executive Director, Virginia Maritime Association

AUKUS Center of Excellence

What: A series of subnational hubs in Hampton Roads (located at William & Mary’s Whole of Government Center of Excellence), South Yorkshire, and Adelaide that collaborate on submarine industrial base innovation.

Why: AUKUS (a trilateral agreement between Australia, the United Kingdom and the United States) demands expanded submarine production capacity, new suppliers, and advanced tech integration. Hampton Roads is the only U.S. region positioned to scale.

Impact: $500M–$1B investment, 2,000–4,000 jobs, expanded supplier base, and accelerated technology adoption.

Leader: Kathryn H. Floyd, Director, Whole of Government Center of Excellence, William & Mary

STRENGTHS DEFINED. STRATEGIES ALIGNED.

NEXUS: National Excellence in Uncrewed Systems

What: An innovation hub to accelerate autonomous systems across domains — air, land, sea, and space — through testing, commercialization, workforce training, and industry engagement.

Why: The global autonomous systems market is on a trajectory for exponential growth. Hampton Roads’ air, sea, and space assets make it an ideal testbed.

Impact: 2,500–4,000 indirect jobs, national recognition, expanded entrepreneurship and manufacturing.

Leader: Nancy Grden, President & CEO, Hampton Roads Executive Roundtable

Secure Energy Future Center

Hampton Roads Maritime Training System (HRMTS)

What: Led by the Hampton Roads Workforce Council, HRMTS is focused on developing a qualified workforce for the Hampton Roads maritime industry.

Why: HRMTS plays a vital role in preparing a qualified workforce to support the needs of the maritime industry and the demands of the U.S. Navy’s submarine fleet transformation.

Impact: HRMTS is designed to train more than 5,000 workers annually in critical skills such as welding.

Leader: Shawn Avery, President & CEO, Hampton Roads Workforce Council

What: An innovation hub for next-generation energy solutions, leveraging the Virginia Tech Corporate Research Center (VTCRC) to solve complex problems and enable strategic regional growth.

Why: Secure Energy Future Center (SEFC) aims to transform strategic coastal advantages into a highly effective market-driven platform for accelerating energy innovation into commercial solutions to help build a secure energy future.

Impact: Position Hampton Roads as a living laboratory for energy innovation and establish a pipeline of investable ideas that can bring tangible economic impact to Hampton Roads.

Leader: Chelsea Olivieri, Managing Director, VTCRC @ Tech Center Research Park

Defense Efficiency & Production Center

What: A public-private center to address key challenges facing the U.S. maritime industrial base, such as production delays, workforce shortages, and a shrinking supplier network.

Why: Given growing global tensions and rising militarization, this center will serve as a critical engine for accelerating maritime production and innovation.

Impact: The Center will anchor a dynamic ecosystem that positions Hampton Roads as the premier hub for undersea defense innovation.

Leader: Douglas L. Smith, President & CEO, Hampton Roads Alliance

Hampton Roads Ambassador Corps

What: A council of retired executives (CORE) including former high-ranking military officials, leveraging their networks through coordinated outreach, trade missions, and peer engagement to benefit regional growth efforts.

Why: Business attraction requires relationships and credibility, not just incentives.

Impact: The Council of Retired Executives (CORE) aims to secure 3–5 major business wins annually through deeper national and international reach, leveraging relationships and credibility

Leader: Rear Admiral (ret.) Charles “Chip” Rock, Hampton Roads Alliance

AN ERA OF INSIGHTS

The Business Intelligence (BI) Division serves as the analytical and advisory foundation of the Hampton Roads Alliance, providing the research, insights, and real estate intelligence that inform and support the region’s economic development strategy. BI exists to help local governments, investors, and the Alliance navigate complex decisions by pairing credible data with clear interpretation and market context.

The division operates through two integrated functions, Research and Real Estate Solutions, that together enable strategic advisory rather than standalone analysis. Research provides economic, fiscal impact, demographic, workforce, and industry insight, while Real Estate Solutions applies that intelligence to site readiness, development feasibility, and investment evaluation.

BI played a central role in shaping the region’s strategy and most consequential initiatives. Alliance Director of Business Intelligence, Michael Evans, served as a primary author of the 2025 Growth & Diversification Plan, helping define regional priorities, assess competitive positioning, and align partners around a shared vision. He also ensured that the Plan complements the Alliance’s Hampton Roads Playbook, for which BI served as a primary contributor. These efforts contributed to a clearer and more defensible economic framework adopted across jurisdictions. BI also worked closely with individual localities to support strategic planning and communication. The division served as the data partner for the City of Virginia Beach’s inaugural Community Current report, establishing a shared demographic and economic baseline to inform decision-making and public dialogue. This work reflected the Alliance’s role as a trusted partner in translating complex information into accessible, actionable insight.

At the project level, BI supported decision-making on 30 fiscal and economic impact studies across industrial, logistics, maritime, innovation, hospitality, and nonprofit initiatives. Throughout the year, the division supported 856 real estate and research engagements, reflecting a mix of proactive insight-sharing and direct requests, and demonstrating growing engagement and reliance on the Alliance for timely, well-contextualized analysis. Real Estate Solutions submitted 105 Requests for Information (RFI) for sites across the region, directly supporting active prospect activity and reinforcing Hampton Roads’ reputation for preparedness and responsiveness.

BI also manages the Alliance’s Salesforce platform, providing shared system support for partner localities. In 2025, this regional approach delivered an estimated $35,100 in direct support value to six participating partners while also avoiding significantly higher standalone implementation and maintenance costs for local partners.

In 2025, the Alliance also launched a Real Estate Roundtable in response to investor interest and quickly developed tariff analysis and briefings as policy shifts introduced uncertainty for regional employers, helping partners assess exposure, implications, and potential responses. The team also worked closely alongside local economic development staff and property owners to engage effectively with prospective users, align messaging, and navigate complex site considerations. A key focus was supporting and managing the Eastern Virginia Regional Industrial Facility Authority (EVRIFA), the regional entity that allows communities to co-invest in projects and share in the revenues associated with them. In 2025, EVRIFA seated a new Executive Committee, Executive Director and Project Manager for the Kings Creek Commerce Center.

Across its work, the Business Intelligence Division integrated data, real estate intelligence, and market context to support the Alliance and its partners in advancing informed decisions and longterm regional alignment.

ANALYZING THE NEW ALLIANCE: A LOOK BACK

2020 marked the start of the “new Alliance” with an expanded mission, reinvigorated team led by new President & CEO Doug Smith, and a new strategy to dive deeper into industry expertise and be more proactive in soliciting project wins. This new strategy has paid off, and the data proves it. Since 2020, the Alliance supported 69 business expansion and location announcements, representing more than 9,579 new jobs and $3.7 billion in capital investment across the region. By comparison, during the previous 5-year period, from 2015-2019, the Alliance supported 17 announcements, representing 3,592 jobs and roughly $275 million in capital investment.

On an annual basis, during the Alliance’s 2020-2025 era, the organization announced an average of 11.5 projects, 1,597 jobs, and $613 million in capital investment supported. This level of activity represents a meaningful step forward compared to the five years prior (2015 to 2019), during which the Alliance announced an average of 3.4 projects, 718 jobs, and $55 million in capital investment. In fact, the new era represents a 122% increase in average annual job creation and a 1,013% increase in average annual capital investment announced

These outcomes are the result of stronger alignment among local economic development teams, improved regional coordination, clearer market positioning, and more disciplined project execution. While each project is ultimately led by local partners, the Alliance’s role as a connector, data resource, and strategic support organization has helped ensure that opportunities are pursued more effectively, and that Hampton Roads competes with greater confidence and credibility. The Alliance also worked with organizations like GO Virginia to secure new funding streams and create initiatives including the offshore wind supply chain development program, a regional energy steering committee, a regional aviation study, and the Hampton Roads Playbook. These activities allowed the Alliance to develop industry expertise and strategic roadmaps without sacrificing any existing efforts in business development or intelligence. It also allowed for refinement of the business development strategy based on data and trends uncovered during these initiatives.

As the Playbook lays out, the post-COVID economy is perfectly positioned for Hampton Roads to play an even greater role in the nation’s security and economic success. The Alliance’s new strategy gives the organization and the region the best chance to capitalize on this shift and align around shared priorities, grounded in a more focused approach to business development under the region’s DEAL framework.

PROJECT ANNOUNCEMENTS

U.S. Congressman Bobby Scott at Fairwinds Landing Groundbreaking City of Norfolk

CAPITAL INVESTMENT

U.S. Congressman Rob Wittman at Kongsberg Announcement James City County

NEW JOBS

Offshore Wind Monopiles at Portsmouth Marine Terminal TQL Ribbon-Cutting City of Norfolk

AN ERA OF engagement

Virginia Forum on Infrastructure

Virginia Derby at Colonial Downs New Kent County

INVESTOR RELATIONS

The Alliance has become one of the region’s premier networking organizations by delivering impactful investor events. The Alliance’s investor relations efforts continued this year with multiple well-attended gatherings. In February, the Alliance hosted a highly successful Annual Meeting with several hundred stakeholders at Christopher Newport University. The event featured Dave Soldow, Director of Advanced Development at HII–Newport News Shipbuilding, as the keynote speaker. During the meeting, the Alliance recognized Shawn Avery, President and CEO of the Hampton Roads Workforce Council as its 2025 Ally of the Year

The Alliance’s Mid-Year Mixer, held in June at Nauticus, convened nearly 200 business, government, and stakeholder leaders. Reports shared at the event highlighted significant year-to-date economic activity, including dozens of company announcements, thousands of new jobs, and substantial investment. The program also featured insights from urban economic strategist Bruce Katz and previewed a regional investment strategy to move the region from reactive recruitment to intentional development.

In October, the Alliance hosted “It’s Go Time” at the Sandler Center, for the official launch of the Hampton Roads Playbook, and a discussion around economic priorities, including defense, energy, aerospace, and logistics. A record 700+ guests attended the event which included a powerful panel of industry leaders and a poster series highlighting the constellation of catalytic assets found in Hampton Roads pertaining to the DEAL industries.

New Private Investment

In 2025, the Alliance welcomed a distinguished group of new investors that reflect the region’s diverse economic landscape and commitment to workforce development, innovation, and community impact. These new investors include 757 Collab, a regional hub for collaboration and entrepreneurial growth; Black & Veatch, a global engineering and construction firm; Bon Secours, a leading regional healthcare provider; Colonna’s Shipyard, a cornerstone of Hampton Roads’ maritime and ship repair industry, Fahrenheit Advisors, a strategic advisory and investment firm; Gaston Group, direct lobbying and legislative advocacy; GuernseyTingle, a full-service architecture and engineering firm; Norfolk Southern, a major freight transportation company; Virginia Peninsula Community College, a key education and talent development partner; Siemens Gamesa Renewable Energy, a leader in sustainable wind energy solutions; Troutman Pepper Locke, a national law firm; and United Way of South Hampton Roads, a nonprofit focused on strengthening community well-being. Together, these organizations bring expertise, resources, and a shared commitment to fostering regional economic growth.

1,000+ TOTAL GUESTS

DIAMOND

PLATINUM

BRONZE

757 Collab

ARCO Design/Build

Atlantic Dominion Distributors

Automatic Coating Limited

Bank of America

Berkshire Hathaway Energy GT&S

Birdsong Peanuts

Brand Fuel

The Branch Group

Burgess & Niple

Canon Virginia, Inc.

Centura College

Colliers

Columbia Gas of Virginia

Crenshaw, Ware & Martin, PLC

CV International

Doug Ellis

Drucker + Falk

SILVER

Black and Veatch

The Breeden Company

Chesapeake Regional Healthcare

Children’s Hospital of the King’s Daughters

Clancy & Theys Construction

Dewberry

Dollar Bank

ECPI University

Fahrenheit Advisors

garrett Realty Partners

Hourigan

Kaufman & Canoles

Kimley-Horn

Kongsberg

Elevance Health

Fulton Bank

Gaston Group

GuernseyTingle

Hanbury

Harbor Group International

Harry Lester

HBA Architecture & Interior Design

Hunton

IRONCLAD

ITA International

Keith Vander Vennet

KPMG

Marine Safety Consultants

McLeskey

Norfolk Airport Authority

Norfolk Waterside Marriott

Paul D. Camp Community College

Langley Federal Credit Union

MEB

Norfolk Southern

S. L. Nusbaum Realty Co.

Tidewater Community College

Trane

Troutman Pepper Locke

VersAbility Resources

Virginia Peninsula Community College

Virginia Tech Corporate Research Center

Wells Fargo

Willcox Savage

William & Mary

Pembroke Enterprises

PNC Bank

Ripley Heatwole Company

Rivers Casino Portsmouth

RWE Clean Energy

Sirius Analysis

Southern Bank

Sumitomo Drive Technologies

Timmons Group

VHB

VIA design

Virginia Wesleyan University

The Lee Group

The Whiting-Turner

Contracting Company

Williams Mullen

Work Program Architects

MARKETING & COMMUNICATIONS

Event Support

In 2025, the Alliance’s Investor Relations and Marketing Departments provided comprehensive creative, operational, and event support for a wide range of impactful initiatives and projects across the region. These efforts included strategic planning and execution for announcements, groundbreakings and special events for companies like Acoustical Sheetmetal, LS GreenLink and LS Cable, Kongsberg, CEL and Neptune Shield,, as well as hosting a SelectUSA spin-off event that elevated Hampton Roads on the global stage. The Alliance also supported thought leadership and workforce-focused programming through webinars with investors such as Williams Mullen and Willcox Savage, and coordinated high-level engagement including U.S. Senator Tim Kaine’s visit to Fairwinds Landing — demonstrating our continued commitment to advancing economic development through collaboration, visibility, and execution excellence.

Earned Media

The Alliance generated significant earned media momentum this year that amplified major announcements, thought leadership, and regional storytelling across local, national, and industry outlets. Through a combination of proactive media outreach, strategic press releases, executive op-eds, and coverage tied to Alliance-led initiatives and partnerships, earned media delivered an estimated $605,406.75 in Earned Media Value across 65 media articles and placements.

Earned Media Value reflects the estimated cost to achieve comparable visibility, reach, and engagement through paid advertising, underscoring the effectiveness of earned coverage in extending the Alliance’s message, credibility, and influence. Together, these placements strengthened awareness of Hampton Roads’ economic development priorities and reinforced the Alliance’s role as a trusted regional voice.

Social Media Performance

Throughout the year, the Alliance’s marketing efforts delivered strong, measurable growth across its digital ecosystem, significantly expanding visibility, engagement and audience reach. Social media impressions more than doubled

to over 400,000, engagements exceeded 35,000, and engagement rate increased to 8.8%. These results reflects more compelling and effective storytelling across platforms. Audience growth was led by LinkedIn, reinforcing its role as the Alliance’s primary channel for business, workforce, and investment-focused communications.

Impressions: 400,428 total, up 120% year over year

Engagements: 35,045 total, up 28% from 2024

Engagement Rate: 8.8%, up 42% (indicating stronger content resonance)

Audience Growth: +1,964 new followers, 15% year-over-year increase

Total Posts Published: 541, 2.5x as many posts as the year prior

Total Post Shares: 722, a 87% increase from 2024

Video Performance: 959 video views, up 259% from 2024

Direct Engagement: more than 900% increase in direct messages (reflecting increased stakeholder interaction and inbound interest)

Website & Owned Media Highlights

The Alliance’s impressive growth and performance in social media carried through to owned channels as well, including its website, which attracted over 42,700 users driven primarily by direct traffic and organic search. In addition to consistent blog publishing, the Alliance successfully delivered monthly Wave Report email communications and built and launched the Hampton Roads Playbook website.

Blog Performance: 43 blog posts published, to support owned content, thought leadership, and shareable storytelling

Total Website Users: 42,740 users, a 24% increase from 2024

New Users: 42,345 new users, up 25% (demonstrating expanded awareness and reach)

Traffic Sources:

Direct traffic: ~51% of users (reflecting strong brand recognition)

Organic search: ~44% of users (underscoring the impact of SEO and consistent content)

Email Marketing: 12 Wave Report newsletters distributed throughout the year, supporting ongoing engagement with regional stakeholders and decision-makers

Average open rate: 47.3%, +8% vs industry average

Average click through rate: 6.7%, nearly 2× national benchmark