Category Archive: Business & Economy

Jan 06

Events for Inventors on Prototyping, DoD in VA, Naval Station Norfolk’s future, Bioelectrics in Hampton Roads

The Virginia Inventors Forum meets Wednesday, January 11, 2012, 6:00 – 9:00 p.m. at Thomas Nelson Community College – Historic Triangle Campus (4601 Opportunity Way, Williamsburg, VA – Room 222) for a program featuring Dwight Dart, Design Lab Engineer from the Department of Mechanical and Aerospace Engineering at the University of Virginia on “Prototyping…and after: the importance of building a prototype, refining the prototype, and what comes next once the prototype is built.” To register and for more information, visit VirginiaInventors.org.

CREW Hampton Roads CREW (Commercial Real Estate Women) Hampton Roads hosts a Luncheon Program on “Naval Station Norfolk: The State of the Base, Current and Future Growth and Improvement Strategy” featuring Captain Mary Jackson, Commander, Norfolk Naval Air Station, Norfolk, Virginia. Join CREW on Tuesday, January 17, 2012, at Town Center City Club (222 Central Park Avenue #230, Virginia Beach, VA) from 11:30 a.m. to 1:15 p.m. SIGN UP ONLINE at CrewHamptonRoads.org or contact Jamie Richardson at crewhr@verizon.net.

Tidewater Association of Service Contractors Tidewater Association of Service Contractors (TASC) meets on January 18, 2012, at 11:30 a.m. for a Luncheon at the Norfolk Airport Hilton (1500 North Military Highway Norfolk, Virginia) featuring Stan Scott, Executive Director of the Virginia National Defense Industrial Authority (VNDIA) which advocates for our nation’s military in Virginia. The Virginia National Defense Industrial Authority (VNDIA) was established during in 2005 by the Virginia General Assembly recognizing that “a need exists for the provision of technical assistance and coordination between the Commonwealth, its political subdivisions and the United States military…” Department of Defense (DoD) spending in the Commonwealth now exceeds $57 billion annually ($5,000 for each Virginian) and accounts for 15.6% of the Gross State Product and 18.9% of jobs in Virginia. DoD remains Virginia’s number one direct employer (187,000 jobs) and indirectly supports more than 900,000 Virginia jobs. Register at TASC-TGIC.org/events/registration.php.

Join Biotech at the Beach on Friday, January 20, 2012, from 12:30 p.m. to 2:00 pm. Luncheon topic is “Bioelectrics and its use for both medical and environmental applications” with speaker Dr. Richard Heller, Director of the Frank Reidy Research Center for Bioelectrics at Old Dominion University. Location: Virginia Beach Economic Development Authority Conference Room located in the Armada Hoffler Tower at 222 Central Park Ave, Suite 1000, Virginia Beach, VA. Center for Bioelectrics (CBE) at Old Dominion University is a multi-discipline center mainly focused on translational research. Examples of research being performed at CBE will be discussed during the presentation including wound healing, cancer therapy, cardiovascular and decontamination. As always, the luncheon is complimentary, you can register to attend here. Learn more about Biotech in Hampton Roads at Arkios.com/BiotechattheBeach.htm.

Jan 04

Financing Your Hampton Roads Business Venture-Who, What, When, Where, How

Technology Hampton Roads invites you to “Financing Your Business Venture” on  Wednesday, January 18, 2012 from 2:00 p.m. to 5:00 p.m at ECPI University, 5555 Greenwich Road, Room 360, Virginia Beach, Virginia.

This FREE event brings together fourteen financing professionals from a multitude of industries to discuss various options available to the entrepreneur to finance his or her business venture.  Done in both single speaker and panel formats, participating professionals will enlighten you about financing opportunities and will be on hand to answer questions about the numerous strategies.

Topics include:

  • Understanding Investors,
  • Valuing Owner and Investor Interests,
  • Attracting Investors and Key Team Members,
  • Negotiating the Deal, and
  • Not-So-Apparent Funding Sources.

Register at:  http://www.TechnologyHamptonRoads.org/en/cev/702

Dec 12

Hampton Roads cities teaming up with industry leaders

THE PLAN: Officials from Chesapeake, Norfolk and Virginia Beach and executives from Amerigroup, Dollar Tree, Huntington Ingalls Industries, Norfolk Southern and Smithfield Foods have begun discussing ways the three cities could team up to reduce expenses.

THE IDEAS: While the group has not made any recommendations, officials said “everything is on the table.” Some of the services they could consider combining include 911 service and trash pickup. Cities could also merge some business operations or buy products, such as fuel, together.

Shared Services Poll
Click here to take POLL:  Should Chesapeake, Norfolk and Virginia Beach explore combining some operations and programs to cut costs?

By Josh Brown for The Virginian-Pilot, December 12, 2011

Faced with budgets strained by flagging tax revenue, cities in Hampton Roads could soon combine some government operations and programs to cut costs.

A coalition of the region’s three largest cities and five of the largest locally-based corporations have launched a pilot program to examine ways that the municipalities can share services.

Officials from Chesapeake, Norfolk and Virginia Beach already have begun meeting with executives at Amerigroup, Dollar Tree, Huntington Ingalls Industries, Norfolk Southern and Smithfield Foods.

The Hampton Roads Partnership, a regional organization of business, political and academic leaders, is spearheading the project, which runs through March. Its $150,000 cost is being split among the cities and the businesses.

“Everything is on the table,” said Dana Dickens, president and CEO of the partnership. “They’re interested in looking at anything that would generate efficiencies, whether it’s sharing a service or purchasing widgets or trucks or fuel or IT services or picking up garbage.”

Preliminary discussions about cities working together began in February, as officials searched for ways to trim tight budgets.

“Things that might have been difficult a few years ago – to think across city lines – now have become more of just a way to do business,” said Marcus Jones, Norfolk’s city manager. “Can you be more efficient with the way you deliver services? More is being asked of us to collaborate.”

Jones said Norfolk officials already had been looking at ways to Read the rest of this entry »

Dec 09

For Homegrown Jobs, Look to Innovation Ecosystems Fed by Universities and Talent

Just like any ecology, a robust innovation ecosystem depends on a complex interplay: human capital, financial capital, intellectual capital, and social capital all work together to create a sustainable environment for the economy to thrive. The investment, entrepreneurial, and nonprofit communities are all critical elements that, along with a foundation of functional government and exceptional universities, build a bridge between ideas and economic impact.

By Dr. Holly Krisztina, Vice Provost for Innovation, University of Southern California and Member of the National Advisory Council on Innovation & Entrepreneurship (NACIE) for the U.S. Economic Development Administration’s December 2011 newsletter

To create jobs, economic development efforts should refocus regionally on innovation-based economies, which have high growth potential, and focus on people rather than infrastructure. The most effective investment of these dollars is on the development of talent and the networks among innovators, investors, and entrepreneurs on the local level.

Higher education plays a vital and extensive role in driving innovation in the United States, so government should look to research universities as a foundation of these regional networks. They offer a vast research base (a total of $50 billion nationwide), the ability to teach and develop a fresh new workforce (3 million graduates each year), the ability to convene disparate expertise, and a deep commitment to the local community.

Businesses are the key piece of the system, but there are only three sources of companies: they can be transplanted, which is done at the expense of other regions and can be very costly if incentive packages are involved, or they can be nurtured from the seed stage and homegrown.  It’s our view that the latter is the best long-term strategy for sustainable regional employment and economic growth. Read the rest of this entry »

Dec 05

Hampton Roads CEOs team up with three cities to explore pilot shared services project

The chief executive officers of the region’s Fortune 500 companies and the mayors of the three largest South Hampton Roads cities are teaming up to explore how the region could benefit from potentially sharing public services. The Hampton Roads Partnership is organizing the pilot Hampton Roads Shared Services Project (SSP) with Management Partners, a Cincinnati, Ohio-based management-consulting firm that specializes in helping local government leaders.

This joint public-private venture combines the business expertise of the top executives from Amerigroup, Dollar Tree, Huntington-Ingalls, Norfolk Southern Corporation, and Smithfield Foods with the municipal government acumen of the leaders of Chesapeake, Norfolk and Virginia Beach to analyze those services that offer the greatest opportunity for successful integration to reduce service delivery costs while providing the best service quality.

“With multiple adjacent cities in the Hampton Roads area, there are opportunities for cities to share services and avoid the costs of providing those services separately,” said Wick Moorman, CEO of Norfolk Southern and chair of the SSP. “The ability of business leaders in the region to work successfully with government leaders offers a particular opportunity to take advantage of shared services and reduce the cost of local government.”

Management Partners recommended the Hampton Roads Partnership take the lead role in organizing shared services projects as part of a coordinated regional initiative. The first pilot project includes the cities of Chesapeake, Norfolk and Virginia Beach. Results will determine potential future projects.

The steering committee guiding the project held its first meeting Nov. 30. The steering committee includes Read the rest of this entry »

Nov 29

Sen. Mark Warner, Technology Hampton Roads and Hampton University: Show Me the Money

On Monday, December 12, Technology Hampton Roads, alongside the National Institute of Aerospace and Stinger Ghaffarian Technologies, will host a luncheon with the Honorable Senator Mark R. Warner.

Senator Warner will speak about the current state of the economy and how technology must play a significant role in turning the tide. SEATING IS LIMITED, so register as soon as possible.

What:  The Honorable Senator Mark R. Warner Luncheon
When:  Monday, December 12, 2011, 11:30 a.m. – 1:30 p.m.
Where:  Holiday Inn Norfolk Airport, 1570 North Military Highway, Norfolk, VA 23502

Registration required.

For questions or assistance, contact Tim Early at TEarly@HRTC.org or (757) 450-5540.


The Hampton University Business Incubator, Virginia Department of Business Assistance and U.S. Small Business Administration (SBA) present “SHOW ME THE MONEY” – a Small Business Lunch N Learn Workshop.

When:  Thursday December 8, 2011, 12:00 noon – 2:00 p.m.
Where:  6 W County Street, Hampton, VA 23663

This workshop will focus on helping entrepreneurs and small business owners discover what financial resources are available and how to successfully access capital resources to enhance their business success. Ms. Mary Jo Sisson-Vaughan Project Finance Manager with the Virginia Department of Business Assistance Virginia Small Business Financing Authority is the workshop presenter. This workshop is FREE and open to the Public, however advance registration is required. RSVP’s will be accepted on a first come first serve basis due to limited space availability. Bring plenty of Business Cards.

Registration required.

For questions or assistance, contact J.R. Locke at JAMESR.LOCKE@HAMPTONU.EDU or (757) 722-9283.

Nov 29

Daily Press Editorial: Economic diversity needed

NORFOLK (July 7, 2011) The guided-missile destroyer USS Ross (DDG 71) pulls into Naval Station Norfolk, the largest navy base in the world. (U.S. Navy photo by Mass Communication Specialist 1st Class Christopher B. Stoltz/Released)

Posted by the Daily Press on November 19, 2011

In face of military cutbacks, Hampton Roads must replace lost dollars.

It’s almost impossible to overestimate the military’s important place in our region.

Naval Station Norfolk is the largest naval base in the world. Naval Air Station Oceana, a master jet base, is home to the Navy’s East Coast fighter jet fleet. Langley Air Force Base is the headquarters for Air Combat Command, which oversees national air combat power. Fort Eustis is the Army’s hub for transportation logistics.

There are lots of other military facilities, employing hordes of military and civilian workers.

And let’s not forget the private firms catering to the military. Chief among them is Newport News Shipbuilding, the nation’s only manufacturer of nuclear aircraft carriers and one of two nuclear submarine builders — and the region’s largest private employer, with more than 20,000 workers.

Hampton Roads military connection has been a blessing, helping us to weather the recent economic storms better than most.

A steady stream of military pay checks flows from Washington, D.C., directly or indirectly into the pockets of local residents, to be spent on everything from cars, homes and clothing to gas, restaurants and movies.

According to Old Dominion University, the Pentagon spends more than Read the rest of this entry »

Nov 19

Inc. 500 in Hampton Roads

Inc. Magazine, written for those who start and grow private companies, named two Hampton Roads businesses in their list of 500 fasting growing companies in the country. (The other was Cetan Corp.)

Insignia Technology Services, highlighted in the Inc. 500 list, has also been named one of Washington Technology Magazine’s “Fast 50,” and was featured in an article in Inside Business.

The company recently competed for and secured a multimillion dollar contract with the U.S. Department of Veterans Affairs, as well as a 480 million dollar contract to be executed over the next five years.

Insignia began as an educational technology company, which led to creating content such as animated avatars for language training within specific dialects. Now they provide information technology across many arenas of public sector clients.

It’s not hard to see that Insignia Technology Services are just the kind of innovative, successful company that spur innovation and improve the cities and regions in which they operate. Fred O’Brien, CEO of the company, says they are happy to stay in the Hampton Roads region of Virginia, one of the top 10 job-creating states in the U.S.

“Hampton Roads is a great location to grow a workforce and raise a family,” O’Brien added, noting that the “passion, heart and experience” of those experts formerly based at U.S. Joint Forces Command (JFCOM) is exactly what his company is looking for when recruiting. O’Brien mentioned that there’s a great opportunity to do a lot of work out of Hampton Roads, but that there is always the need for political and private influence when attracting the types of contracts that create new jobs for local companies and spur decreased unemployment in the region.

 

Megan C. O’Reilly is the manager of government relations with the Hampton Roads Partnership and has an M.A. in Global Communications from The American University of Paris and a B.A. in Public Relations from Belmont University, Nashville, Tennessee.

Nov 14

Investing in the Face of Uncertainty

The Hampton Roads Association for Commercial Real Estate hosts a Luncheon Program on “Investing in the Face of Uncertainty: Implications for Commercial Real Estate Professionals” featuring Dr. Michael J. Seiler, Professor and Robert M. Stanton Chair of Real Estate and Economic Development at ODU.

Dr. Seiler, nationally recognized for his use of technology in real estate research, will conduct a live experiment examining real estate investment behavior involving our lunch attendees as participants. Results of the study will be instantly available and will provide insight into how to make the best decisions in an uncertain marketplace.  As a reward for participating, Dr. Seiler will be giving away a total of $900 to individuals within our group based on how well they perform during his demonstration.

Join HRACRE on Thursday, December 8, 2011 at Hilton Norfolk Airport (1500 N. Military Highway) from 11:30 a.m. to 1:15 p.m. SIGN UP ONLINE at www.hracre.org or contact info@hracre.org, (757) 481-2494.

Nov 12

Hampton Roads Chamber Highlights

On October 27, nearly 100 people filled the Town Center City Club in Virginia Beach during the Chamber’s 8th Annual Legislative Reception.  Chamber members met and dialogued with 29 of the region’s legislators and elected officials.  This evening reception is one of the single largest gatherings of local, state and federal legislators in Hampton Roads.  More…

The Hampton Roads Chamber hosted its annual CEO Welcome Breakfast in Virginia Beach on November 8 at The Founders Inn to welcome and recognize individuals who have moved into leadership positions in the past year.  The breakfast also gives the local business community and elected leaders the opportunity to show their support for these individuals. More… 

Read more with the Hampton Roads Chamber’s eConnect, a monthly electronic newsletter:  November 2011

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