Greater Richmond Virginia, USA

Greater Richmond
Virginia, USA
A Proven International
Business Location
Virginia was settled by the Virginia Company, a for-profit entity
established by the British government. Richmond’s future location
at the falls of the James River was noted in 1607 and the city was
founded in 1737 to serve as a central marketplace and collection
point for Virginia exports to England.
Ideally situated in the heart of the East Coast economic corridor,
the Richmond metropolitan area encompasses nearly 5,717 square
miles and has a population of nearly 1.3 million people.
Today, it is home to 10 Fortune 1000 companies. The diverse local
economy produces experienced and productive workers with the
skills required for 21st century research, production and headquarters operations. Greater Richmond offers the cultural and recreational opportunities of a large city with minimal traffic congestion
and an average 24-minute commute.
Advantages for International Businesses
There are over 150 internationally
owned firms representing 28 countries.
All business support services are available with multilingual staff capabilities,
including accounting, financial, and legal
service providers with international
experience.
A wide range of site and building options is available, including prepared sites
and buildings in more than 100 office
and industrial parks.
International business centers offer short
to mid-term leases for offices and suites
and access to a network of experienced
service providers.
The 34-acre downtown Virginia BioTechnology Research Park is home to many
international life sciences companies.
Washington, D.C., the nation’s capital
and the location of embassies, consulates,
and international organizations, is only
100 miles away.
Economy
The Richmond metro area is a magnet
for labor, drawing a workforce from
more than 40 localities statewide.
capital, Fifth District Federal Reserve
Bank and Fourth Circuit U.S. Court of
Appeals; and higher education.
Diverse industries and companies
combined with numerous educational
institutions provide an ample supply of
employees with positive work attitudes
and a range of skills and experience.
Employment by Industry, 2011
Civilian labor force: More than
670,000
Sectors of employment: Greater
Richmond’s economy is balanced and
diverse; no single industry or sector
dominates.
The diverse economy includes
10 Fortune 1000 headquarters (6 Fortune
500); bioscience, pharmaceutical, specialty chemical, electronics, food and other
21st century manufacturers; financial and
information technology services; state
May 2012, United Kingdom
n Educational & Health Services
n Professional & Business Services
n Retail Trade
n Leisure & Hospitality Services
n Public Administration
n Finance & Insurance
n Construction
n Manufacturing
n Wholesale Trade
n Transportation & Warehousing
n Personal Services
n Information
n Real Estate
n Utilities
23%
16%
11%
10%
7%
6%
6%
6%
4%
4%
4%
2%
1%
1%
Source: Virginia Employment Commission, 2011Q3
British Owned Firms
in Greater Richmond
As of April 2012, there were more than
150 internationally owned companies
with operations in the Richmond
metropolitan area. They employ nearly
14,000 workers and provide a wide
range of products and services.
There are more than 80 British companies in Virginia and 26 are located in
Greater Richmond, including:
Admiral Group PLC.
• Elephant Auto Insurance - Auto
insurance
Amber Chemical Company
• Quantum Silicones (Qsi) - Production of silicone compounds
Compass Group PLC.
• Canteen Vending Services - Food
vending services
Filtrona PLC.
• Filtrona Porous Technologies Bonded fiber products
• Payne Richmond – Easy-open packaging solutions
Group 4 Securicor
• G 4 S Youth Services - Youth custody
and treatment programs
Imperial Tobacco
• Altadis USA - Cigar, cigarettes and
tobacco products
Misys PLC.
• AllscriptsMisys Healthcare Solutions,
Inc. – Healthcare software
Molins PLC.
• Molins Richmond - Tobacco and
packaging machinery sales & services
Old Mutual PLC.
• Thompson, Siegel & Walmsley LLC. Investment services
Greater Richmond, Virginia, U.S.A. 1
Greater Richmond’s International Community
Greater Richmond’s population is becoming increasingly diverse. Each year,
hundreds of corporate transfers, international university students and faculty,
and immigrants add to the area’s ethnic
diversity. According to the 2010 U.S.
Census estimates there are more than
13,400 European born and 159,614
people of British ancestry residing in the
Richmond metro area.
International social and sports clubs have
been organized by the local international
community and include:
•
•
•
•
•
•
•
Central Virginia Soccer Association
International Club
Saint Andrews Society of Richmond
Scottish Society of Richmond
Sports Center of Richmond
(SCOR)
English-Speaking Union
Central Virginia British Car Club
The International Baccalaureate
Program (for both middle and high
school) is available in all four Greater
Richmond localities (Richmond, Chesterfield, Hanover and Henrico). In addi-
tion, all four public school systems offer
foreign languages, including German,
Spanish, French and Latin.
Living in Richmond
Orthodox, Jewish, Islam, Hindu, and
Buddhist.
Housing choices in award winning
neighborhoods range from downtown
apartments in renovated warehouses to
golf course and waterfront communities
to farms.
Special weekend and evening schools
offering classes in language and culture
have been created by the local Indian,
German, Chinese, Jewish, Japanese, and
Korean communities.
Greater Richmond boasts a vibrant arts
and cultural community with offerings
varying from contemporary performances to classical opera, from historic sites to
amusement parks.
Sporting activities include soccer, American football, baseball, basketball, and
NASCAR racing. There are 28 public
golf courses and over 100 parks.
Cost of Doing Business
Building costs are 15 percent below the
national average.
Six percent corporate income tax rate
has not changed since 1972.
Tax rate on manufacturer’s inventory is
zero percent.
Virginia is a Right-to-Work state.
Greater Richmond and the state of
Virginia have low levels of unionization
and union election activity.
Unemployment Compensation and
Workers’ Compensation costs are
among the lowest in the nation.
The cost of living in Greater Richmond is equal to the U.S. national
average and significantly lower than in
larger metro areas such as New York
and Los Angeles.
2 Greater Richmond, Virginia, U.S.A.
Nearly every religious denomination
and tradition is represented, including
Protestant, Catholic, Greek and Eastern
Accolades
Virginia is ranked the Top State to
Make a Living in the U.S., by
MoneyRates.com, March 2012.
Virginia ranked as the No. 2 best
state for business in 2011 by
Forbes.com.Virginia took first place
for four years in a row, from 2006 to
2009, and ranked 2nd in 2010.
Annual international festivals include
Meadow Highland Games & Celtic Festival, Asian Festival,Virginia Asian Chamber Gala, Chinese New Year, French
Film Festival, Oktoberfest, Italian Street
Festival, Lebanese Food Festival, Jamaican
Independence Day, and Cinco de Mayo.
Business and Cultural
Organizations
Greater Richmond’s various business
and cultural organizations offer networking opportunities for new international companies.
The following organizations are examples of the many active groups in
our area:
Greater Richmond is rated:
•
Third Best Large City in the Country
for Job Creation, according to Gallup,
March 29, 2012.
Greater Richmond Chamber of
Commerce
•
Virginia International Business
Council
•
World Affairs Council of Greater
Richmond
One of the top Best Cities for Business among 102 metro areas, rated by
the Wall Street Journal’s MarketWatch.
com, Dec. 13, 2011.
Ranked one of the 20 Happiest Cities
for Young Professionals in America by
Forbes.com, Sept. 8, 2011.
Higher Education
Nearly 30 universities, colleges and adult career schools provide endless learning opportunities.
Well established schools and innovative programs ensure a steady supply of highly educated and skilled employees.
• Richmond schools offer a full range of
associate, undergraduate, and graduate
degree programs, including engineering,
medicine, computer science, business and
law.
• Virginia Commonwealth University’s (VCU) state-of-the-art facilities and innovative programs include product design
and development, nanomanufacturing,
medical research, advertising and the arts.
• University of Richmond (UR), the
area’s largest private university, is ranked as
one of the best liberal arts universities in
the nation by U.S. News & World Report.
• Workforce development courses and
services are offered through the Community College Workforce Alliance.
Practical Facts
• Additionally, the College of William
and Mary, the second oldest institution
of higher education in the United States,
and the University of St. Andrews, the
oldest university in Scotland, offer an
undergraduate joint-degree program.
Higher Education
Enrollment, Fall 2011
Four-Year Institutions
45,104
Va. Commonwealth University
31,898
Va. State University
5,890
University of Richmond
4,349
Virginia Union University
1,710
Randolph-Macon College
1,257
Two-Year Institutions
25,788
J. Sargeant Reynolds
Community College
13,367
John Tyler Community College
10,797
Richard Bland College
TOTAL
1,624
70,892
Transportation Systems
Population
Richmond MSA
1,258,251
Virginia8,001,024
Median Household Income (2010)
Richmond MSA
$55,325
U.S. average
$50,046
Educational Attainment
High school graduates
Some college
College graduates
86%
21%
32%
Climate
Richmond’s climate is classified as
modified continental and there are four
distinct seasons. Summers are warm
and winters are generally mild.
Normal Daily
Max. Temp. (July)
Min. Temp. (Jan.)
• UR has international partnerships
with several British universities, including Queen Mary-University of London,
University of Bath, and University of
Warwick.VCU holds international agreements with the University of the West
of England and University of Oxford’s
Harris Manchester College, while
Randolph-Macon College partners with
the Lancaster University and the Royal
Holloway (University of London).
30.8°C (87.5°F)
-2.4°C (27.6°F)
Standard time
East Coast (Richmond, Washington,
New York) GMT minus 5 hours
Richmond is strategically situated at
the crossroad of major interstates and
rail lines. More than 55 percent of the
nation’s consumers and manufacturing
establishments are within 750 miles of
Richmond.
Highways: Interstates include west and
eastbound 64, north and southbound
95 and 85, and the 295 bypass.
Rail Service: Two of the nation’s largest operators, CSX and Norfolk Southern, provide rail freight service and AMTRAK provides passenger rail service.
Air Service: Richmond International
Airport (RIC) is a 10-minute drive from
downtown. Foreign Trade Zone #207 at
RIC allows companies to defer paying
customs duties on goods until they leave
the zone for domestic consumption.
Washington Dulles International Airport
(IAD), one of the nation’s largest international airports, is only 120 miles from
Richmond.
Ports: The Port of Richmond Terminal
(PORT) is a domestic and international
multi-modal freight and distribution
center on the James River, serving
waterborne, rail, and truck shippers
throughout the Mid-Atlantic states. The
Richmond region’s shippers also are
within 100 miles of the Port of Virginia
at Hampton Roads, with global service
to more than 200 countries and 3,000
sailings annually.
Public Transit: Greater Richmond
Transit Company (GRTC) provides bus
transportation on ex­press and regular
routes.
Testimonial
“Why Richmond? It was a process given that the parent company didn’t know exactly where to locate in
the United States when it came over. We executed a full search from coast to coast – L.A., Dallas, Atlanta,
Charlotte, Richmond, Pittsburgh, Chicago, Washington, D.C., etc. looking for the right combination
of attributes. Low-cost. Good business environment. Good talent base – both white collar and blue collar.
And all of those things combined well for Richmond and ultimately it was the right place for us to locate.”
Andrew Rose, CEO Elephant Insurance, a subsidiary of Admiral Group PLC
Greater Richmond, Virginia, U.S.A. 3
Toronto, ON
Boston
Greater Richmond
Partnership
New York
Philadelphia
Washington, D.C.
81
66
495
95
64
Greater Richmond
81
77
85 95
The Greater Richmond Partnership,
Inc. provides business location assistance
to domestic and foreign companies
planning new or expanded facilities.
The Partnership represents Chesterfield,
Hanover, and Henrico counties and the
City of Richmond. It is organized as a
public-private, not-for-profit corporation. Services are provided at no cost
to the company and with complete confidentiality.
Free services provided by the Partnership include building and site selection
assistance, scheduled visits tailored to
customer’s needs, market and business
research, public relations services, relocation services for company employees,
personnel recruitment and ongoing support for located companies.
Atlanta
Additional information for international
companies is included in the U.S. StartUp Model for International Firms and the
Directory of Internationally Owned Firms.
901 East Byrd Street, Suite 801 | Richmond, VA 23219-4070
804-643-3227 Tel. | 800-229-6332 Toll-Free | 804-343-7167 Fax
http://www.grpva.com
Orlando
Miami
4 Greater Richmond, Virginia, U.S.A.
U.S. Contact:
United Kingdom office:
Mr. Barry I. Matherly
Senior Vice President
[email protected]
Andrew Harfoot
Springboard Marketing Limited
1 Tonbridge Chambers, Pembury Road,
Tonbridge, Kent TN9 2HZ
United Kingdom
Phone 44-1732-363399
Fax 44-1732-352304
E-mail:
[email protected]