Greater Richmond is a vibrant and growing community with nearly 1.3 million people, gaining 26 net new people daily. Our stable and diverse economy includes 8 Fortune 500 headquarters, ranking 2nd for the total number of firms compared to other mid-sized regions.
The region’s low cost of business includes commercial electric rates that are 30 percent below the national average, with unionization and unemployment insurance among the lowest in the U.S.
Workforce + Talent
Recruiting your desired workforce is easier here, with internationally-renowned culture and recreation. Your employees can stretch their dollar further in Greater Richmond with an affordable cost of living — over 4 percent lower than the national average.
Greater Richmond boasts a highly educated and talented workforce with over 65 percent of working adults having some college experience.
- Nearly 62,000 students attend post-high school classes in the region
- 15,000 degrees conferred annually
- 1.7 million students attend college within a 150-mile radius
Top Employers
| Company | Type | City | Employees |
|---|---|---|---|
| Virginia Commonwealth University Health System | Health care | Richmond City | 13,500 |
| Capital One Financial Corporation | Financial services, call center | Goochland | 13,000 |
| HCA Virginia Health System | Health care | Chesterfield | 11,000 |
| Bon Secours Richmond | Health care | Henrico | 8,416 |
| Virginia Commonwealth University | University | Richmond City | 7,832 |
| Dominion Energy | Energy | Richmond City | 5,433 |
| Truist | Banking | Richmond City | 4,549 |
| Amazon | Online retail | Chesterfield | 4,100 |
| Altria Group | Tobacco Products and corporate HQ | Richmond City | 3,850 |
| Federal Reserve Bank Richmond | Reserve bank | Richmond City | 2,700 |
6%
Corporate tax rate (which hasn’t changed since 1972)
8
Fortune 500 company headquarters located in Greater Richmond
41%
of the labor force has a bachelor’s degree