Amid ongoing global conflicts and rising local living costs, Old Dominion University’s Dragas Center for Economic Analysis and Policy will release the 2026 State of the Region Report on October 6 at Hilton Norfolk The Main. A second presentation will be held on October 9 at the Newport News Marriott at City Center.
Prepared by economists from the University’s Strome College of Business, the annual report is an essential guide for regional leaders tracking how shifting federal trade, immigration, employment and spending policies are reshaping the regional economy —and what lies ahead.
Bob McNab, Ph.D., professor and chair of the Department of Economics and director of the Dragas Center for Economic Analysis and Policy, Vinod Agarwal, Ph.D., professor and deputy director of the Center, and Barbara A. Blake, Ed.D., chief internship officer and executive director of the Monarch Internship & Co-Op Office, will unpack the region’s complex economic landscape.
In addition to kitchen table issues like rising grocery prices and affordable housing and childcare, they will explore how a strong post-pandemic recovery is now confronting challenges that could stall growth.
“While the challenges facing the residents of Hampton Roads have risen over the past year, there remains a window of opportunity for the region to leverage its strengths in national security, health sciences and services, and higher education into higher growth in the future,” Dr. McNab said.
“The ongoing changes in federal policy coupled with rising economic uncertainty highlight the need for regional action to increase the supply of housing, diversify our sources of economic growth, and address childcare, water supply and other critical needs. Our report seeks to highlight these opportunities while not diminishing the challenges before us.”
Highpoints of the report include the continued growth of the region’s economy along with increased federal defense spending, which is a boon for military-related businesses throughout Southeastern Virginia.The good news, however, is tempered by declines in federal civilian employment, the continuing impact of tariffs on trade through the Port of Virginia, and rising inflation and interest rates.
The 2026 State of the Region Report is divided into six chapters.
In Rough Seas and Quartering Winds: Can Hampton Roads Grow in Uncertain Times? the experts will recap the economic performance in 2025 and provide an
assessment of future growth. They will discuss the region’s labor market, travel and tourism and the effects of tariffs at The Port of Virginia.
“Divergent Paths? Rising Defense Spending and Headwinds for the Port and Tourism” will offer analysis on how trends and travel are affecting the economy.
“Early Childhood Care and Education in Hampton Roads” will feature a discussion of how families are coping with the cost and seeming dearth of quality care in the region.
“Arts and Culture in Hampton Roads” will feature an analysis of how professional organizations such as the Virginia Arts Festival, Virginia Opera, Virginia Symphony Orchestra, Virginia Stage Company and Chrysler Museum of Art impact the region.
“The Value of Water: The Hampton Roads Sanitation District and the Sustainable Water Initiative for Tomorrow" will discuss how collaboration changed the regional approach to wastewater management.
“Housing in Hampton Roads” will analyze both single-family and multi-family housing and actions cities can take to improve affordability.
The Dragas Center for Economic Analysis and Policy has produced the State of the Region Report since 1999. It also produces the State of the Commonwealth Report and the Economic Forecasting Project. Reports are available on the Dragas Center’s website.