Entrepreneurial Ecosystem

Background: For years, the economy of Hampton Roads has been buffered by federal military spending during economic downturns. But what has been our single greatest strength is now becoming a drag on growth with the reduction in federal military spending. Hampton Roads is dead last among the largest 100 metropolitan regions in the United States in recovering from the Great Recession. We have fewer jobs in Hampton Roads than we had prior 2007 and our density of high-tech start-ups is 80 percent of the national average and only 36 percent of the pace (measured on a per capita basis) at which high-tech startups in the Northern Virginia-D.C. area. read more

Brain Gain

The goal of GNC's Brain Gain Initiative, which is now part of our Entrepreneurial Ecosystem Initiative, is to attract and retain young talent to Norfolk and the region.  With the assistance of the ODU Social Science Research Center, we conducted a survey of young professionals in the spring of 2011 to better understand the perceptions and expectations of young professionals regarding Norfolk and the region and to help inform an action agenda to attract and retain young professionals. While the survey is now nearly six years old, many of the findings are still relevant today. An overwhelming majority of survey respondents identified solving congestion, particularly between the Southside and the Peninsula, as either important or extremely important.  GNC strongly supported the creation of the Hampton Roads Accountability Commission (HRTPC) and the Hampton Roads Transportation Fund (HRTF), which has enabled Segments 1 & 2 of the I-64 Peninsula Widening to begin construction and the for the following projects to proceed to construction: Expansion of the Hampton Roads Bridge Tunnel (HRBT) I-64 Peninsula Widening - Segment 3 I-64 High-Rise Bridge Widening I-64/I-264 interchange improvements Likewise, an overwhelming majority of survey respondents indicated support for passenger rail service from Norfolk to D.C. read more