CORPORATE OFFICE LOCATION SEARCHES AND THE CASE FOR HAMPTON ROADS: A SITE SELECTION CONSULTANT’S PERSPECTIVE* Why Hampton Roads, Virginia adds value for Inside Sales
INTRODUCTION m 0-
il e
ra d
ius
30
Hampton Roads, Virginia, with a population exceeding 1.7 million, is the largest metro between Washington, DC and Charlotte, NC. Connecting the Atlantic Ocean with the Chesapeake Bay and James River, this waterborne region comprises 17 localities. The Hampton Roads Alliance represents 11 of these including the cities of Virginia Beach, Norfolk, Newport News, Chesapeake, Poquoson, Suffolk, Franklin, Hampton and Williamsburg and the counties of Southampton, James City, York and Isle of Wight. Hampton Roads boasts a vibrant, diversified economy in the office sector, including financial services, headquarters, and other corporate functions.
HAMPTON ROADS, VIRGINIA
Several well-regarded colleges and universities, including William & Mary, Old Dominion and two historically black colleges and universities, attract a diverse student body and faculty, both nationally and internationally as well as being important players in innovation across a spectrum of leading technologies. These institutions, along with local community colleges, provide an excellent source of talent within Hampton Roads. Generating more local job opportunities for graduates is an important economic development priority. Hampton Roads’ proximity to the nation’s capital plus easy access to the Northeast corridor are geographic assets. These, in combination with a deep talent pool, business and living costs far lower than the Washington to New York City corridor, and welcoming state and local governments add up to an impressive value play for the many companies who have set up office hubs in the region.
Hampton Roads has a robust business services and solutions ecosystem, and a track record of successful expansions and relocations. These span an array of industries and functions, including inside sales and related activities. The competitively priced talent pipeline is far from saturated, providing ample room for companies to establish new office hubs.
* In April 2020, the site selection firm of Wadley Donovan Gutshaw Consulting (WDGC) began a 6-month study assessing the locational resources of Hampton Roads for corporate office entities that could capitalize on the region’s talent pool and other assets. Inside Sales was one of the sectors identified as a good fit for Hampton Roads. WDGC was selected to perform this study because they have been advising corporations on business location strategy for four decades and have performed numerous site selection assignments involving corporate offices.