CORPORATE OFFICE LOCATION SEARCHES AND THE CASE FOR HAMPTON ROADS: A SITE SELECTION CONSULTANT’S PERSPECTIVE* Hampton Roads, Virginia — A Logistics Center of Excellence
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Hampton Roads, Virginia, with a population exceeding 1.7 million, is the largest metro between Washington, DC and Charlotte, NC. Connecting the Atlantic Ocean with the Chesapeake Bay and James River, this waterborne region comprises 17 localities. The Hampton Roads Alliance represents 11 of these including the cities of Virginia Beach, Norfolk, Newport News, Chesapeake, Poquoson, Suffolk, Franklin, Hampton and Williamsburg and the counties of Southampton, James City, York and Isle of Wight. Hampton Roads boasts a vibrant, diversified economy in the office sector, including financial services, headquarters, and other corporate functions.
HAMPTON ROADS, VIRGINIA
Several well-regarded colleges and universities, including William & Mary, Old Dominion and two historically black colleges and universities, attract a diverse student body and faculty, both nationally and internationally as well as being important players in innovation across a spectrum of leading technologies. These institutions, along with local community colleges, provide an excellent source of talent within Hampton Roads. Generating more local job opportunities for graduates is an important economic development priority. Hampton Roads’ proximity to the nation’s capital plus easy access to the Northeast corridor and Mid-Atlantic regions are geographic assets. These, in combination with a deep logistics and distribution industry talent pool, a robust maritime and inland transportation infrastructure, business and living costs far lower than the Washington to New York City corridor, and welcoming state and local governments add up to an impressive value play for companies to establish or expand logistics competencies.
Hampton Roads has one of the most robust ecosystems for logistics / supply chain activities in the U.S., with an impressive core competency in maritime transportation. The competitively priced talent pipeline is far from saturated, which allows ample room for companies to establish new logistics centers of excellence. * In April 2020, the site selection firm of Wadley Donovan Gutshaw Consulting (WDGC) began a 6-month study assessing the locational resources of Hampton Roads for corporate office entities that could capitalize on the region’s talent pool and other assets. Logistics Center of Excellence was one of the sectors identified as a good fit for Hampton Roads. WDGC was selected to perform this study because they have been advising corporations on business location strategy for four decades and have performed numerous site selection assignments involving corporate offices.