NORFOLK, Va. (AP) — A new report suggests that economic activity in Virginia’s Hampton Roads region continues to grow and will accelerate further.
The good news is part of the 2019 State of the Region Report released Tuesday by Old Dominion University. Each year, ODU’s Strome College of Business assesses the region’s economy.
The growth stems in part from increased federal spending in the military heavy region and a continued expansion of the coastal tourism industry.
The report did not paint a perfect picture. For instance, private-sector job creation lags behind similar metropolitan areas, and younger people are seeking jobs elsewhere.
Another problem is a significant wage gap between men and women. The median income for women with bachelor’s degrees was 67.5 percent of the median income for men with the same education level.
