NORFOLK, Va. — Acting Secretary of the Navy Hung Cao will keynote a first-of-its-kind, invitation-only event in Norfolk aimed at positioning Hampton Roads for a surge in federal defense spending.
The Ironclad Maritime Summit is scheduled for Oct. 27 at the Hilton Main in downtown Norfolk. Registration opened last week for the event, which is expected to draw 350 attendees, including admirals, executives, investors and policymakers.
The Hampton Roads Alliance and the Navy League of Hampton Roads are co-hosting the summit.
Doug Smith, President and CEO of the Hampton Roads Alliance, said the event's name is intentionally broad.
"Because we want this to be something that happens year after year," Smith said.
The Alliance is tasked with growing the regional economy, much of which is tied to military defense spending. Smith said the region punches well above its weight when it comes to Department of Defense investment.
"We are the 37th largest region in the country, right, we are the 5th largest DOD spend, right, so we are really outsized when it comes to the Department of Defense buying," Smith said.
That dynamic has drawn significant attention to the Trump administration's push to increase military spending, including a $1.5 trillion proposal that came down in the spring and $76 billion in submarine spending announced last month.
The summit's website describes the moment as "an inflection point" for the region. Discussions are expected to cover the future of shipbuilding, artificial intelligence and workforce development.
Smith said the stakes are high for everyday residents.
"A question your listeners are probably asking is why is this important to me? It's about jobs. It's about creating jobs for the suppliers, again that workforce," Smith said. "Make sure as much work as is possible can stay in the region."
As an example, he referenced 51 suppliers for Newport News Shipbuilding that are based in Virginia Beach.
Newport News Shipbuilding President Kari Wilkinson is signed on as a speaker, along with several other defense executives and Shawn Avery, the head of the Hampton Roads Workforce Council.
Smith said the issues at the heart of the summit extend well beyond the region's economy.
"It's a national security issue. It is an economic issue for the region, and it is just an enormous opportunity for us," Smith said.
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