THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Friday, November 18, 1994 TAG: 9411180441
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: BY LON WAGNER, STAFF WRITER
LENGTH: Short : 38 lines
The cost of living in Hampton Roads is only slightly above the national average, and area economic developers say that should help them in recruiting industries.
Thirteen of 16 urban areas had ratings above the national average on a cost-of-living index, according to a study prepared by the American Chamber of Commerce Researchers Association. The index uses 100 as the national average and measures the cost of 59 items in the grocery, housing, utilities, transportation and health categories.
Hampton Roads' rating on the cost-of-living index was 102.4.
Ann J. Baldwin, director of research for Forward Hampton Roads, said that despite scoring above the national average, the region remains on a level playing field with its economic-development competitors.
``With the cost of living in Hampton Roads close to the U.S. average and below the major Northern and West Coast communities, Hampton Roads remains attractive to industry,'' Baldwin said.
Hampton Roads' housing (93.7), health (99.0) and grocery (99.7) costs fell below the national average. But its costs for utilities (125.6) and transportation (113.8) apparently pulled its cumulative ranking above the norm.
Among other cities in the Southeast, Richmond (103.3) ranked slightly higher than Hampton Roads, but the index found it less expensive to live in Charlotte (100.5), Raleigh (99.1) and Jacksonville (95.8).
On the national level, the index found the most expensive cities to live in were Boston (135.5), Philadelphia (129.1), San Diego (127.2) and Los Angeles (123.8). by CNB