When AvePoint, Inc. was searching for a mid-sized U.S. city with a highly educated workforce, they “struck gold” in Richmond, Virginia, according to a recent Wall Street Journal front page article.
The company, which develops and sells software to help corporations manage and protect data, looked at more than 20 locations including their existing office in New Jersey as well as Philadelphia and Atlanta. But the Richmond Region’s unemployment rate below 4-percent (July 2017) and 12-percent underemployment (Q2, 2017) meant the company was able to attract highly educated, skilled employees quickly.
After establishing an office in downtown Richmond, Brian Brown, chief operating officer at AvePoint, Inc., said employees in Richmond “end up with more buying power because of the lower cost of living.”
Although AvePoint employs more than 1,400 people worldwide in 31 offices, the company’s success in the Richmond Region has prompted the company to turn its RVA location into its operational headquarters.