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Business Facilities’ Annual Rankings recognize Greater Richmond for science and tech
July 18, 2025
The Greater Richmond region continues to make its mark as a hub for innovation, earning national recognition in Business Facilities magazine’s 21st Annual Rankings for its growing life sciences sector and robust pipeline of tech talent.
The region ranks #4 in Emerging Life Sciences Markets and #14 in Tech Talent Leaders in Business Facilities’ 2025 Annual Rankings Report, which categorizes the top-ranked cities and metro regions for corporate relocation and expansion investment decisions.
The Emerging Life Sciences ranking is based on the number of researchers and employment, graduates from well-known universities and the National Institute of Health (NIH) funding. The Tech Talent Leaders ranking is based on the concentration of technology professionals with the total workforce from 2018 to 2023, including the talent increase rate.
These rankings come as no surprise for Greater Richmond. After all, the region continues to uphold a strong track record in innovation within science and technology. This momentum reflects the region’s broader transformation, as it gains ground in both pharmaceutical research and the technology sector.
Fueling the future of BioPharma innovation
Since the COVID-19 pandemic, state and federal governments also have increased investments in the biotech industry to address medication and drug supply chain shortages.
In part of strengthening U.S. medicine supply and promoting inclusive economic growth, the Alliance for Building Better Medicine, which combines public and private sector partners in the Richmond-Petersburg region, received a $1 million grant last year, as well as the NSF Regional Innovation Engines Development Award. Over the past four years, this strategic alliance has helped position Greater Richmond as a hub for advanced pharmaceutical manufacturing.
In addition to the growing pharmaceutical corporations, neighboring colleges such as Virginia Commonwealth University offer a vigorous pharmaceutical program through the School of Pharmacy. The VCU School of Engineering also offers the first PhD pharma engineering program in the U.S.
Downtown Richmond is also home to VA Bio+Tech Park, a 34‑acre life sciences and emerging technology campus with 70 companies, research institutes and state and federal laboratories.
Tech trailblazers of Greater Richmond
Richmond is continuously rising in several tech industries such as data analytics, informational technology (IT) services and artificial intelligence (AI). This is the fifth consecutive year that the region has been placed in the top 10 ranking of Business Facilities’ Tech Talent Leaders.
Greater Richmond’s reputation as an IT hub is growing in AI, with companies adding 279 more jobs for the first quarter of 2024. In addition to a diverse job market, companies such as CapTech Consulting, Capital One and PwC all utilize AI, which emphasizes the region’s adaptability as a top tech hub.
