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Business RVA Biz & Gov

Richmond Ranks Fourth Nationally in Economic Growth Potential

Business Facilities released its 2019 Metro Rankings Report and Richmond placed fourth among mid-sized cities in economic growth potential.

Virginia Beach nabbed the ninth position on the list, pointing towards more signs of growth for Virginia in the near future. In their ranking of Best Business Climates by state, the Commonwealth placed second nationally. 

High marks for our state don’t always translate into more growth in Richmond.

While, as a state, we have placed high annually, often those scores are tied to the governmental and tech sectors in Northern Virginia. This year, Richmond was able to separate itself from the business community of NOVA. The City was given high ranks in a few categories that indicate we may be in for a good few years of growth. 

Mayor Stoney’s commented on the report

“Every day, we work to make sure Richmond is not just a top-ten place to visit, but a top-ten place to live, work, and play, These high rankings underscore our commitment to achieving that goal through responsible economic growth.”

– Mayor Levar M. Stoney

Richmond Specific Results

Corporate Headquarters

We placed second in corporate leadership. This section gauges how many corporations are located in the city. With a sprawling skyline that continues to grow, and the addition of a new Amazon Headquarters in the state, we may see more corporations move in.

Richmond also ranked seventh in attracting millennials.

This bodes well for the future of the city. Many of these younger adults are coming here to start careers and families. With our bustling art scene, ample supply of breweries and rooftop bars, and the growth of our now nationally recognized music scene, we may see more people choosing to make Richmond their home.

With all indicators pointing toward continued growth and change for our city, how do you see it? Is this translating into growth for our people here in Church Hill? Let us know below.

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