Why Richmond

The Greater Richmond Partnership respects your firm’s specific needs and we’re here to help. Whether you’re a manufacturer seeking logistical access to customers, or if you’re a corporate headquarters that requires a pipeline of talent, Greater Richmond offers a myriad of cost-effective solutions.

For site location projects, GRP is the single point of contact for your process. From the very start, we can assist your real estate search throughout our region, adding value to the search at no cost to your bottom line.

Business Climate

Greater Richmond is a vibrant and growing community with over 1.3 million people, gaining 26 net new people daily. Our stable and diverse economy includes 8 Fortune 500 headquarters, ranking 2nd for the total number of firms compared to our peer cities. And since Greater Richmond’s economy isn’t dependent on one or two industries, the region hasn’t been as affected by economic disruptions compared to peer cities.

The region’s low cost of business includes commercial electric rates that are 8 percent below the national average, with unionization and unemployment insurance among the lowest in the U.S. Virginia’s long-standing and affordable corporate tax rate of 6 percent hasn’t changed since 1972.

Learn more about Greater Richmond’s business climate here.

Diverse + Inclusive

Greater Richmond encourages and welcomes business owners of all races and ethnicities. Black business ownership in Greater Richmond is 5 percent higher than the national average.

• Greater Richmond is home to a diverse population of 41 percent non-white residents, 9 percent more than the national average. The non-white population in the region has increased by 5 percent since 2010. With a majority-minority, the City of Richmond is 55 percent non-white, 13 percent above the national average.
• The City of Richmond scores a perfect 100 on the Municipal Equality Index (MEI) and provides a safe environment for all residents by maintaining inclusive municipal laws, policies and services for people identifying with the LGBTQIA+ community.
• At 27 percent, Greater Richmond companies employ 3 percent more persons with disabilities than the national average.

Learn about Greater Richmond’s diverse and inclusive community here.

Location

Our natural location allows your company to access 45 percent of the U.S. population within one-day’s drive. Greater Richmond features a world-class transportation system that incorporates four interstates, an international airport and river access to one of the nation’s most technologically advanced seaports.

Rankings

Greater Richmond has earned accolades from around the world thanks to our economic diversity, foreign investment strategy and the community’s quality of life.

While assessing your location needs, you also have peace of mind working with one of the top organizations in the nation, which is also accredited by the International Economic Development Council.

Sustainability

Greater Richmond and Virginia are committed to sustainable business practices. Led by efforts from Dominion Energy, Virginia is projected to produce 5.2GW of offshore wind, 16.1GW of onshore wind and solar energy and 6.7GW of energy storage by 2035 in accordance with the Virginia Clean Economy Act.

Talent

Greater Richmond boasts a highly educated and talented workforce, with 65 percent of working adults having some college experience. Nearly 62,000 students attend post-high school classes in the region with 15,000 degrees conferred annually.

Recruiting your desired workforce is easier here, with internationally-renowned culture and recreation. Your employees can stretch their dollar further in Greater Richmond with an affordable cost of living — over 3 percent lower than the national average.