Hampton Roads leads the nation in the percentage of veteran-owned businesses

September 18, 2023September 18, 2023 HRM Staff data analysis, Hampton Roads, Hampton Roads leads the nation in the percentage of veteran-owned businesses, Hampton Roads Planning district Commision, hampton virginia, nationwide, small owned business, U.S. Census Bureau, veteran owned businesses

By: City of Hampton

Hampton Roads has the largest concentration of veteran-owned businesses among large metro areas in the nation, according to a data analysis by the Hampton Roads Planning District Commission.

It’s not entirely a surprise. Among metro areas with more than a million people, Hampton Roads also has the highest percentage of veteran residents, representing more than one in seven adults in the region. Overall, the area is home to the 12th largest veteran population in the nation.

Still, the percentage of veteran-owned businesses is markedly higher than the second-ranked area, Jacksonville, Fla., also a military-rich area. Just over 13% of Hampton Roads businesses are veteran-owned, compared to 9.4% in Jacksonville.

To compile the data, the commission used demographic characteristics of business owners from the U.S. Census Bureau. They used the most recent numbers, released in May 2019, and looked at metro areas with at least 1 million population.