By Bill Cresenzo for Inside Business, posted January 6, 2012

2012 – 2011 redux? As Hampton Roads begins another year, Inside Business asked the region’s business, government, civic, educational and community leaders to give readers an idea of what they would like to see happen in the year ahead and what they expect to see.

Leaders such as Greg Grootendorst, the chief economist with the Hampton Roads Planning District Commission, who said, “The economic outlook for the coming year is likely to be one characterized by very modest growth.

“Hampton Roads remains entrenched in the process of recovering from the great recession,” he said. “The region has lost in excess of 50,000 jobs since payroll employment peaked in July of 2007; regional employment is now at the same level as it was in 2001.”

Vinod B. Agarwal, an economics professor at Old Dominion University, concurs with Grootendorst. The author of an annual regional economic forecast, Agarwal will present his findings at 10:30 a.m. Jan. 25 at the Norfolk Waterside Marriott at the annual economic forecast event. To register, call (757) 683-5138.

Agarwal said he expects the economy to pick up slightly in 2012, but it will continue to be a “jobless recovery.” While the economy might grow some, unemployment rates will remain steady or rise.

But there are other, exciting things on the business horizon. From Hampton Mayor Molly Ward to Jerry Bridges, the executive director of the Virginia Port Authority, to Dana Dickens, president of the Hampton Roads Partnership, inside this issue you’ll find what the region’s leaders believe 2012 will bring, as well as what they hope it will bring.

Recently seen on the Twitterverse:  What’s your wish for Hampton roads in 2012? See what Dana Dickens and other local leaders think. http://insidebiz.com/news/inside-business-story-257

The Year Ahead: E. Dana Dickens III President and CEO, Hampton Roads Partnership

My one wish for 2012 is that the many years of work in regional cooperation and collaboration by the Hampton Roads Partnership translate into true regional consensus, with significant results in growth and in greater diversification of the economy of Hampton Roads.

We can accomplish this if:

• Entrepreneurs have better access to capital, supported via a multimillion dollar fund organized by investors to promote “grow your own” economic development in the region.
• Taxpayers enjoy enhanced government services and lower taxes, supported via implementation of shared public services identified during the pilot program launched in 2011 with Virginia Beach, Norfolk and Chesapeake.
• Local government implements improved efficiencies and savings, supported via more Hampton Roads cities – and counties – joining in shared services projects across the region.
• Startup businesses achieve explosive growth thanks to mentors, supported via coaching provided by the region’s proven business leaders, both retired and active.
• Growth-oriented companies realize their entrepreneurial goals, supported via a cultural shift enabled by Innovate!HamptonRoads and its “Economic Gardening Network,” a suite of high-end, high-speed business growth resources.
• Serious networking and marketing happens for entrepreneurs, supported via successful events like Start Norfolk, active local entrepreneurs, metropolitan-focused academic institutions and the groups championing the region’s technology clusters of aerospace, bioscience, coastal energy, modeling and simulation, robotics and unmanned systems and sensors.
• Education in STEM/STEAM moves forward rapidly, supported via the various regional efforts such as a full-time boarding school, a governor’s school and curricular/extracurricular activities for public schools tied to Virginia’s standards of learning. [STEM stands for science, technology, engineering and math. STEAM stands for science, technology, engineering and applied math.]