Richmond boasts a rich business history
Richmond, the capital of Virginia, has been recognized as
a prime location for business for nearly 400 years since the
first English explorers planted their stake on the banks of
the James River, flowing through what is now downtown. Strategically
centered on the I-95 biotechnology corridor that stretches
from North Carolina’s Research Triangle Park through
Northern Virginia and Washington, D.C., and north to Boston,
Richmond offers the entrepreneur:
Richmond’s downtown skyline, from the James River.
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Economic diversity: Richmond’s diverse economy
includes Fortune 500 headquarters; pharmaceutical, chemical,
biotech, semiconductor and other 21st century industries;
the state capital; financial and information technology services,
and higher education. The chemical/pharmaceutical industry
is the largest manufacturing sector in the greater Richmond
area, with approximately 9,400 employees. And Richmond is
home to the only U.S. production facility for Germany’s
Infineon Technologies AG, the world’s sixth-largest
semiconductor company.
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Among “America’s 50 Most Wired Cities”
(Yahoo/Internet Life, April 2001)
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The best mid-size city in the United States for small
business (Entrepreneur and Dun & Bradstreet, 1997)
Convenient transportation: Interstates I-64, I-95,
I-85 and I-295 converge in the metro area, making U.S. markets
from Boston to Miami and Atlanta to Chicago easily accessible.
Richmond International Airport (RIC), one of the most-modern and
well-equipped airports in the eastern United States, is located
just seven miles southeast of Richmond. Nearly 2.7 million
passengers and more than 140 million pounds of cargo are handled
at RIC each year. RIC is served by six passenger airlines
and has one of the fastest-growing air cargo facilities in
the nation, with more than one million square feet of cargo
apron.
A downtown renaissance: Richmond has exploded into
the 21st century with $2 billion in new investments downtown,
including a redeveloped riverfront and construction of the
largest convention center between Charlotte, N.C. and Washington,
D.C. Virginia Commonwealth University is driving much of the
makeover of downtown Richmond. Other plans are underway, including
a $100 million Virginia Performing Arts Center that will transform
another part of downtown with new and renovated theaters and
other arts facilities.
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A five-star community for business quality of life (Expansion
Management’s Quality of Life Quotient, May 2002)
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2001 Award for Excellence in Technology Transfer (in
the Life Sciences) to the Virginia BioTechnology Research
Park (Association of University Research Parks)
University access: The Richmond area is home to seven
colleges and universities, including Virginia Commonwealth
University, a top-ranked research institution and a founding
partner of the Virginia BioTechnology Research Park. The proximity
of the VCU Medical Center to the BioTech Park encourages collaboration
among university researchers and industry.
Culture and recreation: Richmond, with a population
of about 1 million, offers the cultural and recreational amenities
of a larger city. The city has its own professional symphony,
ballet and opera, and it is the home of the five-diamond Jefferson
Hotel, a national historic landmark.
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The Virginia Museum of Fine Arts has one of the largest
collections of Fabergé eggs.
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The Maggie L. Walker Historic site was home for 30 years
to the first African-American woman to charter a bank
in the United States.
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Patrick Henry made his famous “Give me liberty,
or give me death” speech at Richmond’s St.
John’s Church.
Quality of life: The area’s excellent quality
of life makes it easy to relocate, attract and retain top
quality professional and technical employees. The James River,
roaring through downtown, is the only major urban whitewater
in the world, giving downtown workers a view of bald eagles
and blue herons soaring outside their office tower windows.
The city’s favorable traffic conditions limit the average
commute time to 24 minutes; traffic delays are minimal, even
at rush hour. Richmonders are fortunate to have access to
world-class health care, with more than 2,000 physicians in
the greater Richmond area and 18 hospitals, including the
world-renowned VCU Medical Center with its Level 1 Trauma
Center and centers of excellence in cancer and organ transplantation.
Residents enjoy Richmond’s four distinct seasons and
a fair weather climate with no extremes.
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Fifth of America’s top 20 places to live and work
(Employment Review, June 2002)
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Second-best city for singles (America Online, February
2002)
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One of the 10 most-underrated towns in America (Utne
Reader, Jan. 2, 2001)
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