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Greater Richmond is a vibrant and growing community with nearly 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 other mid-sized regions.

The region’s low cost of business includes electric rates that are 28 percent below the national average and 44 percent below the East Coast average, with unionization and unemployment insurance among the lowest in the U.S.

Workforce + Talent

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 — nearly 4 percent lower than the national average.

Greater Richmond boasts a highly educated and talented workforce with over 65 percent of working adults having some college experience.

  • Nearly 62,000 students attend post-high school classes in the region
  • 15,000 degrees conferred annually
  • 1.6 million students attend college within a 150-mile radius

Top Employers

Company Type City Employees
Virginia Commonwealth University Health System Health care Richmond City 13,500
Capital One Financial Corporation Financial services, call center Goochland 13,000
HCA Virginia Health System Health care Chesterfield 11,000
Bon Secours Richmond Health care Henrico 8,416
Virginia Commonwealth University University Richmond City 7,832
Dominion Energy Energy Richmond City 5,433
Truist Banking Richmond City 4,549
Amazon Online retail Chesterfield 4,100
Altria Group Tobacco Products and corporate HQ Richmond City 3,850
Federal Reserve Bank Richmond Reserve bank Richmond City 2,700
6%

Corporate tax rate (which hasn’t changed since 1972)

8

Fortune 500 company headquarters located in Greater Richmond

41%

of the labor force has a bachelor’s degree