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Richmond MSA leads nation in warehouse jobs growth
February 2, 2024
Greater Richmond is a national leader in warehouse employment growth according to research firm Oxford Economics. Since the second quarter of 2022, the Richmond MSA had the biggest gain in warehouse hiring nationwide. Based on an analysis of federal research data, Richmond had the most significant gains of all job markets at 7.3 percent, beating Los Angeles, Calif., at 6.9 percent and Sacramento, Calif., at 4.2 percent.Â
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Of the 50 largest markets with expanding warehousing jobs, only 14 reported an increase in their rates of warehouse-related hiring between the second quarter of 2022 and the third quarter of 2023. Despite a decrease in consumer demand across the United States, Richmond has maintained steady and impressive growth.
Warehouse ActivityÂ
Greater Richmond has seen plenty of new and expanding warehouse activity across the region including:
- A. Duie Pyle in the City of Richmond,
- Amazon’s robotic facility in Henrico County,
- The LEGO Group in Chesterfield County, and
- SanMar Corporation in Hanover County.Â
Since 2019, there have been 18 new and expanding projects, generating 4,101 new jobs and substantial capital investments totaling $1.21 billion. This translates to an impressive $294,075 capital investment per new job created, reflecting the significance of investments made within the region’s warehouse sector. Additionally, these projects have contributed 8.5 million sq.ft. of new and expanded warehouse space.
Strategic Location Â
Greater Richmond’s successful warehousing industry is driven by a combination of factors including e-commerce, consistent consumer demand and the region’s strategic mid-Atlantic location along the East Coast. Greater Richmond provides access to 45 percent of the U.S. population within a day’s delivery drive. Plus, the region’s proximity to The Port of Virginia, the East Coast’s third largest port, and the Richmond Marine Terminal further enhances the region’s logistics appeal. Greater Richmond is a prime location for businesses seeking efficient transportation networks, contributing significantly to its exceptional warehouse employment growth.Â
Learn more about Greater Richmond’s strategic location and infrastructure here.
- Topics:
- Supply Chain
