NORFOLK, Va. (AP) — The economy in Virginia’s Hampton Roads region is expected to continue to grow this year. And it’s mostly because of a surge in military spending.
The state’s coastal area will also benefit economically from increases in tourism as well as traffic that comes through the Port of Virginia. The projection came late last month from Old Dominion University’s Strome College of Business.
The region is home to the world’s largest navy base. And about 40 percent of economic activity in Hampton Roads is connected to the military. Economic growth in the region is expected to outpace Virginia and the United States.
