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News | 3 min read

Greater Richmond reaches 100 percent jobs recovery since COVID-19 pandemic

November 28, 2022

CoStar employees

RICHMOND, Va. (Nov. 28, 2022) – The Greater Richmond Partnership (“GRP”), the lead regional economic development organization serving the City of Richmond and counties of Chesterfield, Hanover and Henrico, announces jobs recovery in the Richmond MSA has reached 100 percent for the first time since the start of the pandemic.

Jennifer Wakefield, President + CEO of the Greater Richmond Partnership

The Greater Richmond Partnership is working to assist in job creation. According to GRP President + CEO Jennifer Wakefield, “Together with our local and state partners, the region has assisted 18 companies with new or expanding projects in 2022. Overall, the Richmond MSA has gained nearly 4,300 jobs – and 90 percent of that job creation happened in the Greater Richmond Partnership’s four localities.”

Certain key industries in the region have rebounded faster than others. For example, Greater Richmond’s manufacturing, business services, hospitality and supply chain industries have all reached at least 100 percent for jobs recovered.

Click here to view the Greater Richmond Jobs Recovery Report PDF.

While the Richmond Region has fully recovered overall jobs lost since Feb. 2020, the region still lags two percent behind the national average. Data compiled by Greater Richmond Partnership shows the region still has work to do to reach the recovery rates of the region’s aspirational competitors like Atlanta, Ga.

“Greater Richmond lags just behind the U.S. average for jobs recovery, but progress is still happening,” says GRP President + CEO Jennifer Wakefield. “Companies like the LEGO Group, CoStar, EAB and Walgreens are choosing to invest in the region, boosting our manufacturing, business services and supply chain industries. They are choosing Greater Richmond for the region’s workforce, ESG efforts and quality of life.”

While good for the region, Greater Richmond’s low unemployment rate of 3.4 percent can be a challenge for employers looking to hire new talent. Existing companies seeking to expand operations should consider removing barriers to employment, such as:

  • Connecting with local child and family care providers to ensure employees have needed support,
  • Considering alternate work schedules that allow for remote or hybrid work and,
  • Collaborating with the region’s workforce development partners to bridge skills gaps.

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About GRP
The Greater Richmond Partnership, Inc. (GRP) is the lead regional economic development organization for the City of Richmond and counties of Chesterfield, Hanover and Henrico in Virginia. GRP attracts new companies to the region by providing in-depth market data, marketing the region globally and generating quality economic opportunities. For more information, visit www.grpva.com.