Not only do companies and organizations recognize Greater Richmond’s advantages, but the federal government does, too. The region was one of 31 communities recently designated a national Tech Hub by the U.S. Economic Development Administration. Of those 31 communities, Greater Richmond is one of just 13 that were also named Build Back Better Regional Challenge awardees and the only one for pharmaceutical manufacturing.

Tech talent in the region is strong and abundant helping Virginia to be named #1 for tech talent in 2022 and #2 in 2023 by Business Facilities Magazine. The region offers significant cost savings for both employees and employers. Thanks to an analysis by GRP’s Research team, we found the Richmond MSA offers $115,500 in annual savings compared to the U.S. average.

Manufacturing companies reap their own benefits as well. GRP recently partnered with Business Facilities on a webinar detailing how manufacturers can attain long-term success. Read about the webinar or watch it here.

Greater Richmond has been making headlines recently in addition to the tech hub designation.

• A $1 billion tech park is being planned while the GreenCity development further progresses with the acquisition of new land.
• Virginia Commonwealth University set a new record-breaking amount of sponsored research funding at $464.6 million.
• Plenty Unlimited recently went vertical at its indoor farming facility. Plenty will soon begin growing Driscoll’s strawberries at scale at the world’s largest indoor vertical farm.
• Performance Food Group recently opened its new facility and a 1,200-acre data center is being proposed.