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rusthebuss

Virginia Beach Business

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and you're forever hatin' on dee guvinuh. Good news for Va Beach!!

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and you're forever hatin' on dee guvinuh. Good news for Va Beach!!

I am cause this is going to bring more low paying jobs. Just like the new call center in Chesapeake. I'll stop hating when I see him bring some nice paying jobs to this region. Haven't seen it yet so I'm not holding my breath.

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This is excellent economic news and we should all be happy about this. I will be honest though in that I agree with u on one part Rus. When this news was hinted too some weeks ago on this site I had in mind the type of corporate expansion, ala Trader, that we have come to covet so much. It is still good news however and manufacturing jobs are not necessarily low paying. I need to get around to making a Virginia Beach Business thread though so I can move economic news in there.

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This is excellent economic news and we should all be happy about this. I will be honest though in that I agree with u on one part Rus. When this news was hinted too some weeks ago on this site I had in mind the type of corporate expansion, ala Trader, that we have come to covet so much. It is still good news however and manufacturing jobs are not necessarily low paying. I need to get around to making a Virginia Beach Business thread though so I can move economic news in there.

I know a few people there at Stihl and they said they are dead end jobs. Pay is very low and benefits aren't that great. I really wish we could see more high paying jobs pushed here by the state. I fear we will not see that from the state but local officials are going to have to push for this without the state. I agree that we do need more jobs but they need to be balanced with higher paying jobs too!

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The tail end of that article... I think an interesting notion was brought up: China.

China is easily arguably the fastest-growing economy in the world, and for at least the remainder of this decade will continue to be the most-populated nation on the planet. I think that as our port opens up to the Far East, and Chinese and Taiwanese and Japanese shipping shifts away from the West Coast to our coast (coupled with the series of new terminals we have slated to be completed by the 2030s) we are poised to see explosive growth in our port and perhaps in our regional business. I think people tend to underestimate the impact of the immense growth in Chinese trade since the capitalist movement started up in their country... and people underestimate how much of that "new money" could make its way to Virginia and the Hampton Roads region.

I don't think it's a far-fetched idea to say that, perhaps some day, by the middle of this century, we could see our banks filled to the brim with foreign investments, we could see our port with far greater activity than Charleston and New York combined, and we could see an increased international presence of affluent businessmen and women in Norfolk, Virginia Beach, etc. I had to give my quasi-off-topic rant (sorry vdogg! haha) because God only knows when I can get this piece of crap computer to work properly again (hence my on-and-off absence the past week or so). <_<

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Hampton Roads has been on that fast pace to becoming the east coast's largest shipping region. What is going on in China could be what seals this deal.

Which would be just as great for Hampton Roads as it has been for Seattle.

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Chinese trade throught our port has increased due to logjams at the westcoast ports like Long Beach, etc. After they tried the east coast's ports they figured that it was quicker shipping to take the longer journey around the horn than it was to sit in a rail yard for weeks waiting to get to market. Chinese GDP is growing at around 9% per year, compared to US GDP which is around 3.5% I think. There are many other emerging economies in Asia like India which is rapidly increasing industrial capacity. This all goes to say that our ports will be humming along for many years to come because that is where all of our products will be coming from. As for virginia business, it will help the port and transportation related industry, but it is up to our leaders to make it beneficial for foreign investors to put their money and operations here and not elsewhere. Look to NOVA, they have the worst traffic in the region and high costs but companies want to be there because of the business climate and govt proximity is condusive for their operations. OK I'll stop my lecture. In recap: Increased port activities will help, but we must create an environment which attracts that $ and business.

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A healthy tech industry presence will help with that. I heard from my Bio teacher (a Bio major with economics minor, mind you lol) that ~40% of jobs emerging in East Asia are tech or biomedical jobs, often in research, so maybe if we continued major expansions in that department we could draw a few of the brightest minds of Asia along with their goods and international trade. :) I really would love to see Hampton Roads boost its image as an international community and continue to diversify and elevate its standing, globally, and I can already see the beginnings of that happening.

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Visitor spending at Beach up nearly 5%

VIRGINIA BEACH

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Visitor spending at Beach up nearly 5%

.

story

That's approaching a billion dollars! :shok:

Good to hear guests are coming here more often now besdies during peak summer months. The Town Center and other urban developments coming online soon will also attract guests as well as the locals.

That's great. The beach is really starting to come into its own in a lot of areas. I like how the said how many jobs were generated as well, it gives us a good tool to use when comparing the base to the tourism industry.

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I also think the Beach's approach to draw more affluent visitors to the area is paying off and again the urban amenities we have and are building will only continue to draw them.

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As beach tourism increases, city profits decrease :huh:

While Virginia Beach visitor spending has been on a steady climb for the past six years, the city has profited less and less from local tourism investment since 2002. Economic and tourism officials say several large, multi-million dollar municipal projects are behind the profit shrink.

According to the study, Virginia Beach

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I was wondering what direction Sun Capital would go. Luckily, they went in the direction that's best for VB. 40-50 jobs with payroll of $4-5 million. That's an average of $100,000. Great news.

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That's a pretty sizable hire. I suppose they will all fit into their new hq behind CBN.

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That's a pretty sizable hire. I suppose they will all fit into their new hq behind CBN.

They just built a second building that looks like they could hold that many people.

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The tail end of that article... I think an interesting notion was brought up: China.

China is easily arguably the fastest-growing economy in the world, and for at least the remainder of this decade will continue to be the most-populated nation on the planet. I think that as our port opens up to the Far East, and Chinese and Taiwanese and Japanese shipping shifts away from the West Coast to our coast (coupled with the series of new terminals we have slated to be completed by the 2030s) we are poised to see explosive growth in our port and perhaps in our regional business. I think people tend to underestimate the impact of the immense growth in Chinese trade since the capitalist movement started up in their country... and people underestimate how much of that "new money" could make its way to Virginia and the Hampton Roads region.

I don't think it's a far-fetched idea to say that, perhaps some day, by the middle of this century, we could see our banks filled to the brim with foreign investments, we could see our port with far greater activity than Charleston and New York combined, and we could see an increased international presence of affluent businessmen and women in Norfolk, Virginia Beach, etc. I had to give my quasi-off-topic rant (sorry vdogg! haha) because God only knows when I can get this piece of crap computer to work properly again (hence my on-and-off absence the past week or so). <_<

The port traffic would be big, but I'm not sure this will really bring high paying jobs to the region? There was some most excellent threads about this on the old talknet forums that used to exist on Pilotonline. A huge downside to this whole port ordeal is the citizens are left to fund the road expansions to aid the port. Tremendous amounts of traffic. Someone (Reid Greenmun(sp) I believe) suggested using rail lines from the port out to rural Virginia, where i95 is. Move the cargo by rail lines out to the major interstate. Seems logical.

Also, foreign people already own lots of our debt. We buy Chinese goods, China gets the money. US Gov't won't allow China to buy oil companies, so China buys our debt instead.

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I think that anything that elevates the international profile of Hampton Roads would tend to bring foreign investment, whether it be tourist dollars from East Asia (visiting the birthplace of America in the Historic Triangle or the largest resort beach in the world, eh?), or other business opportunities in our region, and keep in mind that most of the advanced technology is developed in Asia; with our booming incubators that could quickly become a draw as well. At least I hope it does...

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