The Virginian-Pilot
©
NORFOLK
Despite the downturn in the U.S. economy, efforts to market Hampton Roads to outside businesses will continue in full force this year, the head of the region's business development organization said Wednesday.
"We have to be out there even more than before," said C. Jones Hooks, chief executive of the Hampton Roads Economic Development Alliance. "A lot of companies will take this time to strategize about the future.
"We definitely want to be in their mix when things pick up again," he added.
The weak U.S. dollar may also encourage more foreign companies to invest in the United States, Hooks told reporters at a media gathering at the group's downtown office.
The alliance sells the region to the world on behalf of 15 localities in South Hampton Roads and the Peninsula. Its roughly $3 million annual budget is paid for by payments from those cities and counties, in addition to corporate contributions.
Last year, five businesses the alliance worked with announced plans to set up shop in the region, and one other company said it would expand, Hooks said. Those projects are expected to produce up to 439 jobs, according to the alliance. The group also helped host 76 visits from companies looking to relocate or expand into Hampton Roads, he said.
In 2006, there were 12 company announcements and 75 visits, Hooks said.
This year, the alliance will tighten its focus on its target industries of maritime, modeling and simulation, and corporate headquarters, Hooks said.
Gregory Richards, (757) 446-2599, gregory.richards@pilotonline.com
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I'm glad others
remembered how this area is marketed. Low wages, and high cost of living (don't let the McMansions fool you).
Out-of-state companies may look here because of the value of the dollar, until they look at the tax consequences. This is why more companies move out of the country and less move in.
Hmmm
So the glimmering hope is that other countries with higher value currency will come in and buy up our resources cheap, and hopefully employ the proles while the owners of said resources do good? Maybe make some in the good ol' boy network a bunch of money (developers developers developers developers developers...). No seriously, I think other areas have a different mindset. And I think this regions mindset just doesn't jive with the modern world. I'm not sure what can really be done to change it. This area just isn't a region of innovation. I'm glad someone remembered Chesapeake's marketing of our low income / low cost of living workforce (which is now very high cost of living). Companies should move to Raleigh. Low cost of living, high tech area, good major interstate access.
are they still marketing this area....
with a workforce of cheap labor and transient military dependents who won't require long-term benefits or retirement? Probably...that's why the median income in Hampton Roads is so low.
The First sentence in this article
is confusing and thus nullifies the the revelation of this story and topic.
as executive director of the alliance 'what else are they to do'? but
solicit companies and expanding businesses to locate here.
more wasted space in the pilot - hey, is MacMall still in the red??
now that's captivating business reading that we'll never see -