NORFOLK, Va. (WAVY) — The annual State of the Region report is shedding light on how deep the pandemic’s impact was to Hampton Roads’ economy and how those recovery efforts are working.
The report from Old Dominion University’s Dragas Center for Economic Analysis and Policy tried to answer the question, “How do we set up the region to keep growing in the future, not just next year?”
Professor of Economics Dr. Bob McNab says the first big takeaway from the report explains how one thing helped Hampton Roads economy begin to bounce back: vaccines.
“Public health and economic health are two sides of the same coin. We’ve seen this over the last two years. If infections are rising, people retract from spending,” he said.
The report also looks at other key industries in our local economy and shows some promising signs as they begin to slowly strengthen.
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