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Greater Richmond Partnership completes best year in last 20 years
September 13, 2022
RICHMOND, Va. (Sept. 13, 2022) – The Greater Richmond Partnership (“GRP”), the lead regional economic development organization serving the City of Richmond and counties of Chesterfield, Hanover and Henrico in Virginia, announces it has finished its best year in the organization’s last two decades.
This last fiscal year ending June 30, GRP assisted 13 projects that created 4,894 new jobs, earned $1.62 billion in capital investment and impacted 4.45 million square feet of real estate. GRP helped locate two megaprojects and several additional major projects, including:
- The LEGO Group announced a $1 billion, 1.7 million square foot carbon neutral manufacturing facility in Chesterfield, creating 1,761 jobs.
- CoStar will build a $460 million, 750,000 square foot corporate campus in the City of Richmond, adding 2,000 jobs.
- In Hanover, Walgreens announced a $34 million, 66,000 square foot distribution facility, creating 249 jobs.
- EAB announced a $6 million, 70,000 square foot office space in Henrico, adding 206 jobs.
When companies invest in Greater Richmond, it sparks an economic ripple effect that continues long after projects are announced. GRP’s 13 assisted projects will create more than 9,650 direct, indirect and induced jobs, more than $539 million in direct, indirect and induced wages and an overall $1.02 billion in wealth creation. This wealth creation will aid in ensuring economic stability, anchoring jobs locally and more.
These projects and more caused Site Selection magazine to name GRP among the top 20 economic development organizations in the country and led the organization to surpass its five-year goals. GRP’s five-year successes include 63 assisted projects that projected to create more than 9,000 jobs, $2.64 billion in capital investment and 10.7 million square feet of real estate impacted. The economic impact, or ripple effect, of these 63 projects will create an overall $3.88 billion in wealth creation.
“This past year, we increased the perception among corporate decisionmakers, strengthened regional collaboration and forged new partnerships with additional private sector investors,” said Greater Richmond Partnership President + CEO Jennifer Wakefield. “Thanks to these efforts and others, we’ve had a tremendous year and look forward to continuing our success into years ahead.”
The Greater Richmond Partnership accomplished record-breaking goals thanks to support from its four local partners in the City of Richmond and counties of Chesterfield, Hanover and Henrico as well as 100+ private sector investors.
To learn more about GRP’s achievements, read the 2021-2022 Annual Report.
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About the GRP
The Greater Richmond Partnership, Inc. (GRP) is the lead regional economic development organization for the City of Richmond and counties of Chesterfield, Hanover and Henrico in Virginia. GRP attracts new companies to the region by providing in-depth market data, marketing the region globally and generating quality economic opportunities. For more information, visit www.grpva.com.
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