Executive Summary

Call to Action:

It took the United States and Virginia more than 70 months to recover all the jobs lost during the Great Recession. For Hampton Roads, the recovery was more tepid, taking over 100 months to recover the lost jobs. Undoubtedly, the COVID-19 economic shock has exceeded that of the Great Recession. The lackluster federal response has only deepened the economic shock. We must temper our expectations and accept that a recovery will not be quick or smooth. In all likelihood, we should not expect a full recovery until at least 2022. More critically, we must reimagine what recovery will look like in a changed world. This is a time to question assumptions and old ways of doing things.* It’s time for a bold new approach.

The leading 757 business organizations have come together as a coalition to answer this call.

 *Source: ODU State of the Region Address Opening