Business and Finance jobs represent a great portion of all professions in the Greater Richmond area. Among the 51 mid-market metro areas located east of the Mississippi River, Richmond ranked 1st for its percentage of jobs in the Business and Finance category.
Perhaps even more impressive for its civilian labor pool of 680,000, Richmond ranked 6th for percentage of jobs in this sector out of the 50 largest Metropolitan Statistical Areas (MSA). In fact, these positions increased by 9 percent from 2016-2020, netting 4,300 new jobs.
As for why Greater Richmond has a vast amount of Business and Finance occupations, there are many reasons:
- A long-standing finance and insurance hub includes the corporate headquarters of Markel and Genworth as well as Capital One’s largest non-headquarters campus. It is also home to the Fifth District Federal Reserve Bank.
- The area is home to multiple divisional and Fortune 1000 headquarters, including Altria, Dominion Energy, and NewMarket.
- There are three prominent business schools in the area. This is a huge benefit for local companies that can recruit top talent and retain their new hires in the Richmond market. For additional recruitment, more than 1 million students are available within a 150 miles of Greater Richmond.
- Richmond, as the capital of Virginia, hosts many government functions which provides a large base of public sector workers.
Regardless of occupation, the ability to relocate, attract, and retain top quality professional and technical employees makes Greater Richmond a top destination for any business leader. It is no wonder Business and Finance professionals are still thriving and growing through tumultuous times.
Richmond MSA Rankings – the Percent of 2020-Q3 Jobs in the Business & Finance Sector
|1||Greater Richmond is ranked 1st among the nation’s 51 mid-market metro areas that are located east of the Mississippi River.|
|3||Greater Richmond is ranked 3rd among the nation’s 76 mid-market metro areas for the percent of its workforce in the Business & Finance sector in 2020-Q3; Richmond’s percentage was 7.0 percent.|
|6||Greater Richmond is ranked 6th among the nation’s 50 largest metro areas USA for the percent of its workforce in the Business & Finance sector in 2020-Q3; Richmond’s percentage was 7.0 percent.|
|15||Greater Richmond is ranked 15th best among 388 metro areas in the USA for the percent of its workforce in the Business & Finance sector in 2020-Q3; Richmond’s percentage was 7.0 percent.|
While Greater Richmond is known for its affordability, quality of life, accessibility and many other things, the area is developing a reputation for having a powerhouse Business and Finance sector. It has grown immensely over the past few years and will continue to flourish for years to come.