Skip to content | Contact the GRP: 1-800-229-6332

About Us
Printer-friendly version
Bookmark and Share

FAQs

What is the Partnership's mission?
The short answer is "jobs, investment (new tax base) and regional cooperation." The long answer is in the mission statement: "To help grow the Greater Richmond economy through the attraction of high quality jobs and new capital investment, the retention of existing businesses, and the continued improvement of the region's business climate."

When was the Greater Richmond Partnership, Inc. formed?
In July 1994.

Why was it formed?
While most local jurisdictions began setting up their own economic development offices in the 1960s and 1970s, it became obvious from questions from the business community that a regional organization was needed to market Greater Richmond as a whole. Local governments joined in forming such an organization (the Metropolitan Economic Development Council, or MEDC) about 1980, but success continued to be less than desired. So the business community joined in through the Greater Richmond Chamber of Commerce, as a 50-50 partner, forming the new Greater Richmond Partnership, Inc., which was Greater Richmond's first real experiment in public-private regional economic development cooperation.

What is the relationship between the Partnership and the Greater Richmond Chamber?
The Partnership and Chamber have a symbiotic relationship going back to 1994 when the Chamber's leadership proposed setting up a public-private regional economic development organization with the region's four local governments. The Chamber manages the Partnership's 200 private sector contributions through its 501(c) Foundation and provides quarterly checks to the Partnership. The Chamber also appoints the four private sector members that sit on the Partnership's Board.

Finally, the Partnership contracts with the Chamber for specific business services, such as: assistance with the retention of existing businesses, small business development and workforce coordination. These contracts have specific metrics tied to the Partnership's five-year goals.

How is the Partnership funded?
Half by the business community, through reinvestment campaigns conducted by the Greater Richmond Chamber and the Partnership every five years, and half by the public sector (the City of Richmond and the counties of Chesterfield, Hanover and Henrico). Each public partner pays the same amount for its Greater Richmond Partnership, Inc. services. A list of investors can be found here.

What is the board makeup?
Half of the board's eight members come from the private sector (usually top executives of major corporations that invest in the Greater Richmond Partnership, Inc.) and half from the public sector (usually top elected official from each jurisdiction). The position of chair rotates between public-sector and private-sector members of the board on an annual basis.

What is the size of the Partnership's staff?
The Partnership has ten full-time staff in the Richmond office. In addition, the Partnership has consultants in Cologne, Germany and Kent, England.

What are the Partnership’s programs?
The Partnership has four main program areas: Business Attraction and Regional Marketing, Business Retention and Expansion, Talent Development and Promotion, and New Small Business Formation and Small Business Support. Research, information and communications support these programs.

What types of businesses is the Partnership working to attract?
There are six main marketing targets: (1) advanced manufacturing, (2) food processing, (3) green, clean and energy technologies, (4) life sciences, (5) information and communication technologies and (6) creative and knowledge based services. Secondary targets are finance and insurance, logistics and supply chain, and corporate headquarters.

How many outreach marketing activities does the Partnership do annually?
On average, the Partnership undertakes 50 marketing missions, trade shows, seminars, special events, direct marketing calls and prospect follow-up visits annually worldwide.

How many active prospects does the Partnership have at any one time?
On average, active prospects number about 300 companies.

Of that prospect number, how many does the Greater Richmond Partnership generate versus referrals from the State economic development group?
The Partnership generates an average of 65% of all its prospects through trade shows, seminars, direct calls, ads and numerous targeted marketing missions.

How many prospect visits does the staff handle?
On average, one or two a week. Visits usually extend over several days. They begin with presentations in the Partnership's Briefing Center and involve coordination with city, county, and state economic development offices and many of our private sector partners. Typically, we show off sites, buildings, provide information on labor, education, and locational advantages, concluding with a presentation of the outstanding quality of life.

How does the Partnership assist businesses that are already located in the area?
Business First Greater Richmond is the Partnership’s business expansion and retention program. Professional economic development staff and trained volunteers interview business executives to assess companies’ needs. Then a network of resource partners is tapped to provide a customer-focused approach to problem solving and service delivery. The program has touched more than 1,300 local companies from September 2006 when the program began through June 2009.

How does the Partnership determine which companies to include in its “assisted company” list?  
The GRP has two tests it uses to determine if we should include the new business on our "assisted company" list:
1. Did the company credit GRP in assisting them in their site search? In their minds, did we add value?
2. Did the local government acknowledge GRP’s help in the location process?
If these two conditions are met, we include them on the GRP “assisted company list”.

Does the Partnership support workforce development in the region?
Yes. In February 2009 the Partnership launched the RichmondJobNet website, which provides a comprehensive listing of area job boards, tools and tips for job seekers, and a Career Calendar of job fairs and educational opportunities. The goal is to simplify the job search process and improve communication between area job seekers and employers with jobs to fill. The Partnership also supports an annual College-to-Career Fair and a regional Workforce Services Directory through a contract with the Greater Richmond Chamber.

Does the Partnership assist small and minority businesses?
Yes. The Partnership funds and supports small-business counseling and training sessions through a contractual arrangement with the Greater Richmond Chamber's Small Business Development Center. The Partnership also has funded a series of CDs on "How to Start a Business" in each locality.

What have been the results since the Partnership's formation?
From its founding in July 1994 through June 2009, the Partnership assisted 384 new and expanding companies that invested $6.9 billion and created more than 41,000 jobs in Greater Richmond. This new capital investment equates to a return of $164 on every $1 in the Partnership's budget. This does not take into account the associated ongoing benefits of an increased tax base, enhanced individual incomes and job opportunities, or new retail and commercial opportunities for the region's businesses.

How does the Partnership compare to other regional programs around the country?
The media, consultants, and researchers consistently recognize the Partnership as one of the leading, most successful programs in the United States. Site Selection Magazine, an economic development publication, has rated the Partnership as one of the top economic development groups in the United States six times since 1994.

Back to top