Military
Hampton Roads is a major military center, particularly for the United States Navy, and Norfolk serves as the home for the most important of these regional installations, Naval Station Norfolk. Located on Sewell's Point Peninsula, in the northwest corner of the city, the installation is the current headquarters of the Atlantic Fleet, as well as being home port for the 2nd Fleet, which compromises approximately 62,000 active duty personnel, 75 ships, and 132 aircraft. The base also serves as the headquarters to the Allied Command Transformation (NATO) and the United States Joint Forces Command.
The region also plays an important role in defense contracting, with particular emphasis in the shipbuilding and ship repair businesses for the city of Norfolk. Major private shipyards located in Norfolk include: BAE Systems Ship Repair, Colonna's Shipyard, and NASSCO. Most contracts fulfilled by these shipyards are issued by the Navy, though some private commercial repair also takes place.
When combined with other important regional military installations such as Naval Air Station Oceana, Norfolk Naval Shipyard (in Portsmouth), Langley Air Force Base, and Naval Amphibious Base Little Creek, and along with other important defense contractors, the military serves as the region's economic backbone and cultural focal point. In fact, it is estimated that over 35% of Gross Regional Product (which includes the entire Norfolk-Newport News-Virginia Beach MSA), is attributable to defense spending, and that 75% of all regional growth since 2001 is attributable to increases in defense spending.
Read more about this topic: Economy Of Norfolk, Virginia
Famous quotes containing the word military:
“Stately as a galleon, I sail across the floor,
Doing the military two-step, as in the days of yore.”
—Joyce Grenfell (1910–1979)
““My ancestors were all famous for military genius.”
My Lady smiled graciously. “It often runs in families,” she remarked: “just as a love for pastry does.””
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)
“In early times every sort of advantage tends to become a military advantage; such is the best way, then, to keep it alive. But the Jewish advantage never did so; beginning in religion, contrary to a thousand analogies, it remained religious. For that we care for them; from that have issued endless consequences.”
—Walter Bagehot (1826–1877)