DATE: Sunday, September 7, 1997             TAG: 9709050784

SECTION: BUSINESS                PAGE: D1   EDITION: FINAL 
TYPE: HAMPTON ROADS ALMANAC 1997

LENGTH: 39 lines

HAMPTON ROADS ALMANAC 1997

THE NUMBERS THAT DEFINE OUR ECONOMY AND WHAT THEY MEAN

Almanac 1997 is like one of those colorful patterns that you're supposed to stare at until a picture emerges. Study the facts and figures long enough and a picture emerges of Hampton Roads.

What does the picture look like? Here are a few previews:

Ours is increasingly becoming a service economy, but there's surprising strength and diversity in manufacturing. Companies such as Canon Virginia, Ford Motor Co. and Stihl all report employment gains since the last business almanac in 1994. Gateway 2000, which hadn't yet arrived in 1994, now employs 1,000 people.

The economic development picture is impressive. Take a look at the two-page map on Pages D6 and D7 and you'll see the companies that have moved to Hampton Roads or expanded since 1994.

Tourism supports a huge segment of our economy. In 1995 - the most recent figures available - visitors spent $1.89 billion and kept nearly 34,000 of us employed. (The next time a tourist cuts you off on the interstate, just smile and wave.)

Is the picture all rosy? Of course not. Military employment has taken a big hit, and wages continue to lag compared to most major areas of the state. The shipyards sound glum. The biggest percentage job gains are forecast in one of the lowest paying sectors: retail.

You're in the picture, too. Where you work. Where (and how much) you shop. Which TV station you watch and radio station you listen to. Where you bank and where you can invest.

Almanac 1997 is all about us - where we've been and where we're going. Be sure to let us know your comments. MEMO: BUSINESS ALMANAC ILLUSTRATION: Color photos

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