Strome Business Minute With Dr. Jeff Tanner

I’m Jeff Tanner, Dean of the Strome College of Business at Old Dominion University and this is a Strome Business Minute. The Strome College of Business’s Dragas Economics Center recently held its 25th Forecasting Project luncheon. Generally, the expectation for our region is good, with economic growth outpacing the nation’s for this year. Key to our expansion is federal spending, particularly on defense. Of course, Newport News Shipbuilding has carrier and submarine contracts that will support growth for a decade or longer. Overall, defense spending contributes forty percent to our economy, whether directly or indirectly. There are two ways to respond to this opportunity. The first is most likely to happen and that is to sit back and enjoy it. The second, which I prefer, is recognize that elections have consequences and take this opportunity to expand and diversify before defense budgets are cut. To learn more, visit odu.edu/business. This has been a Strome Business Minute, presented by the Strome College of