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Veterans are fourth pillar of Hampton Roads economy, economist says

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Posted at 6:05 AM, Nov 10, 2023
and last updated 2023-11-10 07:19:06-05

VIRGINIA BEACH, Va. — On a recent Friday in the Vibe District, Jeff Werby served up a fresh cup of coffee at his coffee shop, Fathom Coffee.

"Really, the coffee actually started basically as a hobby because my dad was looking for something to do," Werby said.

Werby opened the coffee shop in 2019 with his dad and another business partner. He and his dad both served in the Navy before they began brewing coffee, along with other businesses.

Werby is originally from the area and was stationed here while in the Navy. After some moves following his time in the military, he decided to make Hampton Roads his permanent home.

"At some point, I decided this is a great place to plant a flag and try and surround myself with people who believe in the area. I wanted to grow other veteran-owned businesses and help people grow and succeed and stay here," Werby told News 3.

Seven percent of businesses in the area are owned by veterans, which is almost three times the national average, according to Old Dominion University's Dragas Center for Economic Analysis and Policy.

"I don't think many people realize how important veterans are to the economy here," said Dr. Robert McNab, an economist and author of the Dragas Center's recent State of the Region report, which examined the impact of veterans on the Hampton Roads economy.

Of metropolitan areas with more than a million people, Hampton Roads has the highest concentration of veterans. Data shows there are more than 220,000 veterans in the area, making up about 16-percent of the adult population.

"Veterans add fuel to the regional economy and that's why it's a smart strategy trying to keep as many veterans here as they exit military service," said McNab.

Werby has worked to try and encourage veterans to stay here and open up businesses.

"What we're trying to do is [create] more density, more vocal veterans, who are willing to beat the drum and say, 'Hey, this is a great place to be. This is a great place to start a business," said Werby.

And on this Veterans Day weekend, he and other veterans are leaving their mark on Hampton Roads.

"It's a great place to live, great quality of life, great schools, lots of things to do," he said.