NORFOLK, Va. – It was a depressing speech from leaders in the community as they addressed the State of the Region in Hampton Roads.
The 17th Annual report was titled “Life in the Slower Lane,” and focused on the major economic pillars that need to improve in order to get out economy back to where it was before the recession in 2008.
Professor of Economics James Koch said tourism, the Port and defense spending are the three concepts we need to deeply examine when talking about jobs and economic growth.
The Hampton Roads region, on average is doing better than the U.S. in regards to job creation. 7,000 jobs in just one year were brought to life in our cities and towns but that still does not get us back to where we were before the major economic setback nationwide.
Hundreds of local leaders, business owners and dignitaries gathered Tuesday morning for a presentation as well as a Q&A about where to go from here. Koch hopes the region will be realistic and understanding that changes to transportation, spending and job creation need to be made to move forward together.