Business
Intelligence
The Hampton Roads Alliance's Business Intelligence team stands as a pivotal resource for comprehensive insights into the Hampton Roads market. We specialize in developing detailed reports encompassing economic data, industry trends, and workforce dynamics. Our research extends to critical factors influencing location decisions, such as labor availability, wage rates, education and training, transportation, utilities, taxes, incentives, and overall business climate.
Core Functions
and Expertise
At the heart of the division's expertise is its ability to respond to requests for information and research from both private entities considering expansion or relocation to Hampton Roads, private sector investors, and state and local partners seeking detailed market intelligence. The division offers several services that include:
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Assessing the potential success of new ventures and expansions within the diverse sectors of Hampton Roads.
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Delivering critical data on labor availability, skill levels, wage rates, and training opportunities to inform recruitment and development strategies.
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Generating detailed reports on key sectors, highlighting trends, opportunities, and challenges in the regional, national, and global contexts.
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Regularly updating stakeholders on the state of the economy, providing valuable benchmarks for performance evaluation and strategic direction.
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Offering quantitative evaluations of how business activities influence the local economy, these analyses provide essential insights for decision-makers.
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Presenting a comprehensive snapshot of the region's economic landscape and population dynamics, aiding in strategic planning and investment decisions.
Research Samples
In 2023, the Business Intelligence Division completed over 140 assists that have directly supported the Alliance's mission. By providing investors and partners with the data needed to make informed, strategic decisions, the division plays a crucial role in shaping the economic landscape of Hampton Roads. Its contributions extend beyond mere data provision; the team's analyses and insights assist in attracting new businesses to the region, facilitating expansions, and bolstering the local economy.
Beyond its immediate stakeholders, the Business Intelligence Division serves as a pivotal resource for the Alliance’s local partners, providing them with the research and insights needed to drive regional development initiatives. Its work supports efforts to enhance the business climate, making Hampton Roads not only an attractive destination for new investments but also highlighting assets that allow existing businesses to grow and thrive. These efforts allow the Business Intelligence Division to help foster economic growth and prosperity in Hampton Roads. Through its comprehensive research, detailed analyses, and support to stakeholders, the division ensures that the region remains competitive, dynamic, and forward-looking in an ever-evolving economic landscape.
Examples of three reports produced for investors and companies can be found above.
Real Estate Solutions
In the past decade, the lack of large, business ready sites has been cited as one of the leading reasons why Virginia lost a variety of major economic development projects. As the Commonwealth has committed funding to the Virginia Business Ready Sites Program, the Alliance is readying the region by analyzing and identifying sites that are poised for investment. In 2023, the Alliance commissioned two major studies to evaluate sites:
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In 2023, the Alliance in coordination with Grella Partnership Strategies conducted a comprehensive site search report in Hampton Roads, VA, with the primary goal of identifying optimal locations for new data center developments. The report aimed to cater to technology companies seeking high availability, secure, and reliable facilities. The report evaluated numerous potential sites based on technical, environmental, and financial aspects.
The scope of the report primarily focused on hyperscale data center sites in the region, capable of accommodating multiple 100,000 square foot buildings. Additionally, the report considered the highest and best non-data center industrial use for each site. Criteria such as location, power availability, network connectivity, security, environmental considerations, and cost were used to rank and evaluate each site.
Assumptions for data center development in the region included the generation of significant recurring property tax revenue, creation of high-quality jobs, minimal impact on traffic and public resources, commitment to environmental sustainability, and the potential to attract a broader high-tech ecosystem.
Following a thorough evaluation, 10 potential top-tier data center sites were identified in the Hampton Roads region. These sites include, Hampton Roads Center North Campus in Hampton, Westport Commerce Park in Suffolk, Shirley T Holland Intermodal in Windsor, Port 460 Logistics Center in Suffolk, BASF in Williamsburg, Three Oaks at Greenbrier Commerce Park in Chesapeake, Carleton Site in Newport News, Camp Parkway in Courtland, Benns Church in Smithfield, and 1425 Pitchkettle Road in Suffolk.
Hampton Roads is strategically located on the East Coast and has the potential to become a hub for data centers due to its thriving business environment, robust telecommunications infrastructure, and access to reliable power. The region's advantages, including a resilient power grid, mild climate, and high-speed fiber-optic networks, contribute to its appeal for data center development.
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This year, in partnership with KPMG, the Alliance completed a study of existing sites in the Hampton Roads region in order to determine their readiness for development. Sites were evaluated based on due diligence, ownership of the site, the presence of utilities and other necessary infrastructure, site development, and site optics.
An extensive review of 12 existing sites across the region was conducted, including a thorough desktop review and virtual site tour for each location. Upon completion of this review, six sites were identified for in-person site tours, with site locations in Chesapeake, Virginia Beach, Newport News, Suffolk, and York County. These tours were conducted in November with the goal of gathering in-market intelligence to assess the developability and compatibility of each site.
The site tours included evaluation criteria such as general site overviews, as well as utility connections, capacities, and service delivery timeframes. In addition, discussions were held with each locality regarding the site development timelines. Using this information, the final report is expected to include a comprehensive site evaluation that not only includes this information, but will also include insights related to labor availability, the overall business environment, and quality of life. The report will also provide feedback on the site that the Alliance, along with our regional partners, can use to improve site readiness across the region.
WE JOINED THE EVRIFA BECAUSE IT REPRESENTS REGIONALISM IN ACTION. IT IS AN OPPORTUNITY FOR TRANSFORMATIVE ECONOMIC GROWTH. WHEN WE JOIN FORCES, NO PROJECT IS TOO BIG FOR HAMPTON ROADS.
Mayor Rick West, City of Chesapeake
In 2022, the Hampton Roads Alliance assumed the roles of managing entity, fiscal agent, and support staff for the Eastern Virginia Regional Industrial Facility Authority (EVRIFA). Established by Virginia statute, the EVRIFA enables cooperation among localities in the same region for joint facility development and revenue sharing. Originally founded by the Cities of Hampton, Newport News, Poquoson, and Williamsburg, as well as Gloucester County, James City County, and York County, it expanded with the inclusion of the City of Chesapeake, City of Franklin, and Isle of Wight County. In 2023, the City of Virginia Beach joined the authority.
The EVRIFA's revenue-sharing mechanism allows member localities to agree on arrangements for sharing tax revenues and other income generated by authority-owned facilities. Such agreements require approval by the governing body of the respective locality for the specific site. The EVRIFA also allows member localities to individually participate in specific projects, with costs and remuneration shared only among participating localities. There are no penalties for localities choosing not to participate.
The 432-acre Kings Creek Commerce Center site in York County is the EVRIFA’s only active project at this time. The property acquisition was completed in December 2021 and was funded by leasing 250 acres for a 20-megawatt solar project. The authority secured a GO Virginia grant for site preparedness engineering work which is currently in progress. The EVRIFA's strategic initiatives provide a model for regional collaboration to achieve broader economic growth and development goals in Hampton Roads.