Strategic Initiatives
A CALL TO ACTION
When compared against the United States as a whole, Hampton Roads is an average performing region in economic terms. However, the region’s performance has not kept pace with the state of Virginia (as a whole) and has fallen behind key competitor regions outside the state.
The following statistical highlights and trends in the 2004 Stategic Plan are intended to provide a snapshot of the Hampton Roads economy as well as an indication of our relative position with respect to other areas in regard to:
A – Standard of living.
B – Ability to create, attract and retain jobs.
C – Overall quality of jobs.
D – Ability to attract and retain people.
These measurements are the basics, like taking the pulse, temperature and blood pressure of the local economy. This analysis will benchmark Hampton Roads’ performance against several geographical areas including the United States, State of Virginia and three metropolitan areas: Charlotte, NC, Raleigh-Durham, NC and Richmond, VA. Tables detailing each of these measures can be found at the end of this report and are referenced in the text.
1999 STRATEGIC PROCESS
In June 1998, the Hampton Roads Partnership began a strategic planning process that engaged over five hundred people throughout the region. The Board of Directors approved the plan on June 18, 1999, and its implementation began at that time. Funding assistance was received from the State of Virginia through its Regional Competitiveness Program for the fiscal years 1998 through 2002. The Program was eliminated by the General Assembly in its 2002 and 2003 sessions. The 1999 Strategic Plan Final Report was presented to the Partnership’s Executive Committee on January 16, 2004. During 2003, the foundation was established for a new strategic planning process which should begin in earnest in the spring of 2004.
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