FOR IMMEDIATE RELEASE
The 2012 Fiscal Year economic development activities of the Greater Richmond Partnership, Inc., (GRP) supported 101 new and expanding companies in Greater Richmond resulting in 3,061 new jobs and $418.2 million in new capital investment in the region.
The new jobs and capital investment the GRP helped bring to the region will spur additional jobs and investment. Gregory H. Wingfield, CEO and president of the GRP, explained, “Based on our economic modeling, our programs had a regional economic impact of more than $959.8 million in new sales and 5,439 new jobs.”
Wingfield added, “This has been a turnaround year for Greater Richmond’s economic development efforts. We have seen a great improvement in prospect activity as well as companies deciding Greater Richmond is the ideal location to grow their businesses.” He continued, “During the recession, business decisions were delayed. From our perspective, the turning point occurred in December 2011 with Amazon’s announcement. Since then, companies have been more decisive and have been adding capacity, new jobs and new capital investment in the region.”
Through collaborative efforts of the GRP’s partners and allies, the business attraction program successfully assisted 16 new and expanded companies, including Amazon, Sabra Dipping Co. and Primatics Financial. Collectively, these companies plan to create 1,622 jobs and invest $335.8 million in the Richmond region.
Partners and volunteers of the GRP’s business retention program, Business First Greater Richmond, interviewed 571 business leaders in the region and responded to 85 specific requests for business assistance. This year the program supported the creation of 1,251 jobs and $75.8 million in new capital investment, as well as the retention of 618 jobs.
In support of the region’s workforce, the GRP continues to leverage the website RichmondJobNet. Fiscal year end results reported 39,615 website visitors and more than 2,338 new @RichmondJobNet followers on Twitter. Several people have landed jobs because of the tools provided and Greater Richmond’s reputation as a career destination continues to grow.
The GRP helps support the Greater Richmond Small Business Development Center through its partnership with the Greater Richmond Chamber who provided counseling or training to 6,255 small business owner and aided in retaining 437 jobs.
The GRP over the past year unveiled three new marketing tools, including:
- RichmondWorldView.com – a website for international businesses showcasing Greater Richmond as a top business location for relocation and expansion.
- “Richmond: Find What You Love, Love What You Find” – a relocation package for businesses attracting potential employees to the region that includes a website (www.lovewhatyoufind.com), a brochure and business card.
- “Greater Richmond: Come and Stay”– a series of targeted videos that serve as a vital marketing tool to promote our region’s opportunities for business, and to introduce our region to potential future residents.
Since 1994, the Partnership has assisted more than 424 businesses. These firms created more than 46,525 new jobs and made $7.8 billion in capital investments in the Greater Richmond region. This is a return on investment of $161 for every dollar in funding provided by public and private partners.
The Greater Richmond Partnership was launched in 1994 as a pioneering regional public-private initiative to serve as the regional economic development group for the City of Richmond and counties of Chesterfield, Hanover and Henrico. The mission is to help grow the Greater Richmond economy through the attraction of high quality jobs and new capital investment, the retention of existing businesses, and the continued improvement of the region's business climate. For more information, please visit www.grpva.com.
Contact: Gregory H. Wingfield
Greater Richmond Partnership, Inc.
Phone: (804) 643-3227
Email: [email protected]