The Hampton Roads Alliance is proud to announce the release of its 2024 Annual Report, detailing a year of remarkable economic progress and regional collaboration.
Against the backdrop of global change, Hampton Roads has emerged as a resilient, forward-thinking region poised for sustainable growth across key industries, including defense, energy, logistics and knowledge work.
In 2024, the Alliance supported 13 major business announcements, representing nearly $1 billion in new capital investment. These successes highlight the region’s strategic focus on economic diversification, workforce development and infrastructure readiness—all of which position Hampton Roads as a national leader in business expansion and investment.
“At a time of unprecedented global change, Hampton Roads stands uniquely poised to thrive,” said Doug Smith, Hampton Roads Alliance President & CEO. “Our military legacy, growing maritime manufacturing sector and expanding energy portfolio have laid a strong foundation for the future. The results outlined in this report demonstrate how collaboration between public and private partners is fueling our region’s momentum.”
Key Highlights from the 2024 Annual Report:
- 13 Business Announcements totaling nearly $1 billion in capital investment
- Expansion of the region’s business intelligence and real estate solutions services
- Strengthened marketing and business expansion efforts to attract top-tier industries
- Continued growth in workforce development and talent attraction strategies
- Increased regional cooperation to support large-scale infrastructure and industry projects
The Hampton Roads Alliance remains committed to driving sustainable economic growth by leveraging the region’s unique strengths in shipbuilding, defense, offshore wind and advanced manufacturing. The 2024 Annual Report reflects not only past achievements but also a clear roadmap for future success—one built on partnership, innovation, and strategic investment.
“Our success is a direct result of the tremendous partnership with our public and private sector allies,” the report states. “Together, we are ensuring that Hampton Roads remains a thriving hub for business, talent, and opportunity.”
The full Hampton Roads Alliance 2024 Annual Report is available for review here.
