From new high-tech research institutes to state-of-the-art hospitals and premium retail
and Class A office space, Hampton Roads is flourishing. And as the area’s commercial real
estate encounters some of the lowest vacancy rates in the past 10 years, the number of new
construction projects in southeastern Virginia should only continue to grow.

Developers have poured millions of dollars into new development in Hampton Roads – a sign of investors’ favorable outlook on the region’s economic health and future. City Center at Oyster Point has created a downtown for Newport News, featuring high-end retail, office and living space around a five-acre fountain and public plaza. The new $96.4 million Sentara Williamsburg Regional Medical Center and $94.5 million Sentara Heart Hospital in Norfolk are among major new health-care facilities for the region. The MAST center, a 32-acre research and technology park being constructed along the Suffolk-Portsmouth line, will offer high-tech office space and feature Old Dominion University’s $11.6 million modeling and simulation center.

We pack information about these projects – and hundreds of statistics – into our annual Hampton Roads Statistical Digest. The guide is full of information on the region’s tourism, real estate, military, health-care and technology sectors. We include plenty of stats on the fast-growing Port of Virginia, which has positioned itself to handle the largest cargo
ships in the world. Add in some information on the area’s top attractions, historic sites and professional sports teams, and this guide offers a detailed picture of the region’s lifestyle and economy.

This year, we’ve added information from Franklin and Southampton County. Although not recognized as part of the Hampton Roads Metropolitan Statistical Area by the U.S. Office of Management and Budget, these localities are increasing their economic strength and ties to the Hampton Roads region. They have formed Franklin Southampton Economic Development
Inc. to promote economic development in the area and recently joined the Hampton Roads Economic Development Alliance.

We hope this digest is a valuable resource for companies evaluating Hampton Roads’ business climate or those just keeping track of the local economy. As always, please contact us with any comments or ideas.

Jessica Sabbath
Special Projects Editor