Last year, the Alliance supported thirteen project announcements, representing 1,059 jobs and $936 million in capital investment. There were historic investments like LS Greenlink’s $666 million offshore wind manufacturing facility, and international players like Kongsberg and Canon invested on the Peninsula, and companies from Australia engaged with Huntington Ingalls through the AUKUS initiative, underscoring that the world is watching Hampton Roads.

The Hampton Roads Alliance’s Annual Report will be available in print at the end of February and will be available on our website. This report provides a comprehensive look at our year-end metrics, including project announcements, job creation, and economic impact. It also highlights key strategic travel events and conferences that have strengthened both domestic and international relationships, our business retention and expansion initiatives, updates on the regional playbook, real estate solutions, EVRIFA developments, and investor engagement. Additionally, the report will feature a financial and an in-depth president’s report highlighting how the Alliance continues to drive innovation and economic growth in Hampton Roads.

Hampton Roads’ competitive edge lies in its unique convergence of industry, defense, and research. Yet, to secure long-term success, we must deepen our role in innovation and early supply chain development.

Thank you to our allies in economic development. Your collaboration fuels our success and ensures that Hampton Roads leads boldly into 2025 and beyond.

The Road to Renewables: Doug Smith on Hampton Roads’ Clean Energy Journey

In this episode of Green Giants, host Wes Ashworth talks with Doug Smith, President and CEO of the Hampton Roads Alliance, about how Hampton Roads, Virginia, is emerging as a renewable energy hub. Doug shares pivotal moments in the region’s shift from traditional energy to offshore wind and other renewable sectors, reshaping Hampton Roads’ economy and workforce.

Former Fisherman’s Wharf Site in Hampton Now a Blank Slate and Ready for Redevelopment

The Hampton site of the former Fisherman’s Wharf restaurant, overlooking the Hampton Roads harbor, has been completely cleared.

Future plans for the 2-acre property have yet to be determined. Mike Holtzclaw, Hampton’s communications coordinator, said the city purchased the site to remove a long-time eyesore. City Council is still weighing the option to turn it into a park and boat ramp, he said.

Norfolk Tides are Close to Long-Term Lease with the City as Club Installs $2.1 Million Seating Upgrade

The Norfolk Tides and the City of Norfolk are working to finalize a long-term lease to keep the club at Harbor Park as the stadium undergoes an offseason makeover to replace more than 11,000 seats. The Tides, the Triple-A affiliate of the Baltimore Orioles, reached a short-term lease agreement with the city in February 2023 that expired after the 2024 season.

Hampton’s Historic Aberdeen Gardens Neighborhood to Address Flooding with $20M Grant

Aberdeen Gardens resident Shelton Tucker said flooding is “a growing problem” in his neighborhood due to sea level rise and the community’s location on a peninsula surrounded by water in several different directions. Tucker, president of the Greater Aberdeen Community Coalition, is one of many Aberdeen Gardens residents who have raised concerns about the historic Black community being prone to flooding. However, thanks to a $20 million grant from the U.S. Environmental Protection Agency, the Hampton government hopes to complete a series of projects within three years to address the issue.

Business Facilities Names Virginia 2024 State of the Year

Business Facilities has named Virginia its 2024 State of the Year, recognizing the state’s business environment and economic development success, the publication announced. The award comes in the same year as Virginia’s sixth No. 1 ranking as CNBC’s Top State for Business, awarded in July. Virginia previously won Business Facilities’ State of the Year designation in 2018, and in 2021, it was named as having the nation’s Best Overall Business Climate.

Smithfield Foods Raises $522M in First Day on Nasdaq

Smithfield Foods officials rang the opening bell recently at the Nasdaq MarketSite in New York City, as the packaged meat and fresh pork giant launched its initial public offering of 26 million stock shares at $20 per share on the Nasdaq Global Select Market, raising $522 million.

FSEDI Awarded $10K from Norfolk Southern for Community Visioning Process

Franklin Southampton Economic Development Inc. has been awarded $10,000 from the Norfolk Southern Corporation to support its mission in its Coastal region, which includes Hampton Roads in Virginia. An FSEDI and Norfolk Southern news release noted that the funds will be used to help support the Franklin Southampton Community Visioning Process, which is a community initiative that FSEDI is leading to help its communities grow and develop in the coming years.

Hampton Metals Manufacturer Plans to Build New Shop, Add Jobs in Expansion Fueled by Navy Submarine Work

A manufacturer of specialty welding and metals is investing $16 million to expand its Hampton footprint and add 50 jobs, the company leader said. The 65-year-old Riggins Co., located in Copeland Industrial Park, plans to build a state-of-the-art, 80,000-square-foot fabrication shop nearby on Pembroke Avenue by 2027, Riggins President and CEO Justin Byrum said. The building is in the design phase with plans to break ground in about six months.

Norfolk Focuses on Cruise and Entertainment Tourism

The “city surrounded by water” — Norfolk — is going through “an evolution, putting in necessary investments to stay on top of the times” as a tourism destination, says Sean Washington, the city’s director of economic development. The city is expanding its cruise center to accommodate an influx of passengers year-round, has broken ground on a casino complex, and is sprucing up its arts and culture hub.

Hampton Roads: Positioned for Growth in a Changing Economic Order

In an era of unprecedented global and national shifts, Hampton Roads is uniquely positioned to thrive. Bruce Katz, of New Localism Advisors, sees the area as a critical player in the evolving U.S. economy. Working closely with the Hampton Roads Alliance, Katz is helping define the region’s strengths, setting it apart as a place of opportunity in the face of growing geopolitical tensions, climate crises and a transforming economic landscape.

Retired Naval Station Norfolk Commander is New Suffolk Econ Dev Chief

Retired Navy Capt. Janet H. Days, who retired last year as commanding officer of Naval Station Norfolk, the world’s largest naval station, will be taking on a new tour of duty in February as director of Suffolk’s economic development department, the city announced. The Alliance is excited to work with Captain Days!

The Virginia Chamber of Commerce Names Cathie J. Vick as Incoming President and Chief Executive Officer

The Virginia Chamber of Commerce announced the appointment of Cathie J. Vick as President and Chief Executive Officer after a national search. She will assume her position on April 1, 2025, succeeding Barry DuVal, who has served as the leader of the Virginia Chamber since 2010. The Board of Directors has named DuVal as Senior Advisor to Vick and the Board for the remainder of 2025. Cathie is one of our former Board members - Congratulations from the Alliance!

Governor Glenn Youngkin Announces Robust Job Growth and Record Job Opportunities in Virginia

Governor Glenn Youngkin highlighted the ongoing strength and expansion of Virginia’s workforce, drawing on the latest data from the Bureau of Labor Statistics. The new figures reveal significant gains in employment and continued labor force growth, underscoring the Commonwealth’s resilient and dynamic labor market. 

DroneUp CEO Tom Walker on the Future of Drone Delivery: Insights from Smart Cities Dive

The landscape of last-mile delivery is undergoing a seismic shift, and DroneUp is leading the charge. In a recent interview with Smart Cities Dive, DroneUp CEO Tom Walker offered an illuminating look into the company’s vision for drone delivery and its transformative potential for urban logistics. As a pioneer in the unmanned aerial systems space, Walker highlighted the technological advancements, regulatory hurdles, and collaborative efforts that are shaping the future of the industry.

Norfolk Casino Developers Select Construction Management Team

A joint venture between Virginia Beach-based S.B. Ballard Construction and Mississippi-based Yates Construction — the companies that built Rivers Casino Portsmouth — will lead construction of the $750 million Norfolk casino resort.

Commentary: VA Ecosystem Supports Growth

"It has been almost four years since I began leading economic development and innovation efforts at George Mason University, and what a whirlwind! This is an exciting time to be in Virginia, and getting to do this job every day feels like winning the lottery," says Paula Sorrell.

Done and Dome — Oceanfront Venue to Open in May

The Alan B. Shepard Convention Center, better known as The Dome because of its shape, was razed in 1994. Though city officials sought to redevelop the 10-acre site, it sat vacant until about two years ago. But this spring brings in a new era for live music in Virginia Beach, as the 3,500-seat concert venue opens. 

2024 VA Housing Market Outpaced 2023

There were 102,509 home sales in Virginia in 2024. That’s 4,000 more than the previous year, according to Virginia Realtors. “While Virginia’s 2024 housing market ended stronger than 2023, it was still relatively slow compared to average levels,” Ryan Price, chief economist for the trade organization, said in a statement. “Looking ahead to 2025, we predict pent-up demand will continue facilitating home sales, though that same demand may keep upward pressure on prices.”

Exploring Hampton Roads: Real Estate Tours with the Virginia Economic Development Partnership

At the Hampton Roads Alliance, we understand the critical role that real estate and site selection plays in driving economic development. That’s why each year, we host real estate tours in partnership with the Virginia Economic Development Partnership. These tours provide an opportunity to showcase the diverse and dynamic portfolio of properties and assets our region has to offer.

INVESTOR SPOTLIGHTS

HII Division Lands $6.7B Air Force Contract

The U.S. Air Force has awarded Huntington Ingalls Industries’ McLean-based Mission Technologies division a $6.7 billion contract to provide electronic warfare engineering and technical services support, according to an announcement from the defense contractor. The indefinite-delivery, indefinite-quantity contract is the largest Mission Technologies has yet landed, according to HII. 

VA Casino Revenue Rose 32% in 2024 Over Previous Year, Lottery Reports Show

The house always wins, Virginia’s three casinos proved in 2024, raking in nearly 32% more in adjusted gaming revenues than in 2023. Some of the gains are related to the fact that Danville’s Caesars Virginia opened its temporary facility midway through 2023 and was in operation throughout 2024.

Chartway Opens New Branch in Virginia Beach, Celebrates Milestone Anniversary

Chartway Credit Union celebrated the grand opening of a new location on Pacific Ave in Virginia Beach, Virginia recently. The event brought together credit union members and leadership, community leaders, local dignitaries, and Hampton Roads Chamber leadership for a ribbon-cutting ceremony highlighting Chartway’s commitment to growth and community engagement through its charitable arm, Chartway Promise Foundation. 

Norfolk Architect Designs her Most Important Project: the Future of her Business

Fifteen years ago, Donna Phaneuf began to design perhaps the most momentous project of her career — the succession plan for her Norfolk-based architectural firm.

She recognized a pattern in the industry with firms floundering in their later years because they had not addressed the transition properly, she said. Phaneuf, who is highly respected in the industry with a number of projects and honors under her belt, vowed she was not going to let that happen.

Sentara Installs Blood Vending Machines at Norfolk General Hospital

There are now four blood vending machines inside Sentara Norfolk General Hospital as part of a pilot project to give doctors safe and fast access to blood products. Before the vending machines were installed in December, a runner would be sent to the hospital’s blood bank. Sentara Norfolk General alone does more than 2,200 transfusions per month.

HII Closes on South Carolina Plant Acquisition

Newport News-based Huntington Ingalls Industries announced it has closed on its purchase of a metal fabrication manufacturing facility in South Carolina, which will now be part of its subsidiary Newport News Shipbuilding.

Amazon Same-Day Delivery Center Opens in Hampton — the 1st of its Kind in Hampton Roads

Amazon has opened a same-day delivery center in Hampton — the first of its kind in Hampton Roads and the second in Virginia. The same-day delivery service will initially be available to the areas of Hampton, Norfolk and Virginia Beach.

Hampton Roads Alliance Investor Lee Group Search Launches National Renewable Energy Podcast

Hosted by Wes Ashworth, Vice President of Executive Search for Lee Group Search, a Hampton Roads-based international recruitment firm specializing in renewable energy, Green Giants podcast features in-depth interviews with key figures in the renewable energy industry, including entrepreneurs, policymakers, researchers and activists.

Norfolk Airport Adding JetBlue Service in April

JetBlue will start service from Norfolk International Airport on April 30, offering seasonal daily nonstop flights to Boston’s Logan Airport, Norfolk airport officials announced. The airline will be the ninth commercial carrier at Norfolk’s airport.

This report allows businesses to evaluate key factors such as workforce availability, economic conditions, and local tax structures, supporting informed decision-making for expansion and investment in the region. By offering a detailed overview of each locality, the report serves as a strategic resource for those looking to establish or grow their presence in Hampton Roads.

By providing comprehensive and accessible data, the Hampton Roads Alliance continues to position itself among the leading resources for regional economic insights. Businesses and investors can use this report to identify opportunities, assess market conditions, and make informed decisions on growth and investment in Hampton Roads.

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