Greater Richmond

Advantages for Life Sciences

The Greater Richmond Region

Ideally situated in the heart of the East Coast economic corridor, the Historic Richmond Region includes Virginia’s capital city, Richmond, and the vibrant counties of Chesterfield, Hanover, and Henrico. Successful companies have found the area to be extraordinarily business-friendly for nearly 400 years. The region is home to 9 Fortune 1000 headquarters as well as the state capital, the 5th district Federal Reserve Bank, and the US Federal 4th District Circuit Court of Appeals.

The Richmond metropolitan area’s population exceeds one million and employment totals more than 560,000. The diverse local economy produces experienced and productive workers with the skills required for 21st century research, production, and headquarters operations.  Ten colleges and universities offer degree programs in all fields, plus continuing education classes and custom programs tailored to specific company and industry needs.  A magnet for labor, the metro area attracts workers from 40 localities statewide.

A wealth of cultural and artistic amenities gives the area a cosmopolitan flair, yet the region is remarkably accessible, with minimal traffic congestion and an average commute of just 24 minutes.  Reasonable living costs and a wide array of affordable housing contribute to the Region’s easy lifestyle.

A long-term commitment by pro-business state and local governments has kept tax rates stable and among the lowest in the country.  Economic development offices are available to assist new and expanding companies with ready-to-go sites and fast track permitting.  The Richmond Region provides a right-to-work environment with a history of good labor-management relations.