The capital city of the Commonwealth of Virginia in the United States, Richmond has long been a commercial hub. Thanks to its strategic location, boat pathway in the Great Turning Basin, its triple crossing rail lines (the world's only) and two major interstates, Richmond has a thriving economy that continues to attract droves of new residents every year.
Businesspeople relocating to the city will be delighted to know that it is one of the most business-friendly in the US. It boasts low to zero corporate and manufacturer inventory taxes, while the government offers credits and abatements for job creation in impoverished areas.
Job market in Richmond
Primarily driven by finance, law, advertising and government, Richmond's economy is stable and employs an enormous workforce across a range of sectors.
The city is home to two US Courts of Appeals for the Fourth Circuit, and the Federal Reserve Bank of Richmond (one of 12 in the country). Four of the biggest law firms in the US also have bases in Richmond, including Hunton & Williams, McGuireWoods, Williams Mullen and LeClairRyan. Its Fortune 500 companies include Dominion Resources, CarMax, Owens & Minor, Genworth Financial, MeadWestvaco/WestRock and Altria Group.
The city is also an advertising mecca and is home to numerous major advertising and communications agencies (including The Martin Agency). New arrivals with qualifications in the pharmaceutical or biotechnology industries will be delighted to know there are plenty of opportunities in this field as well, with many companies based in the Virginia BioTechnology Research Park.
The city's tourism sector is also growing steadily. Richmond's food scene is considered one of the most underrated in the country, not to mention its multitude of acclaimed craft breweries and distilleries. Even the film and television industry is on the up and employing many residents, with numerous high-profile films shot in the city over the last few years.
Finding a job in Richmond
It's always better, when relocating, to secure employment before the move. Many professionals move to Richmond as part of an intra-company transfer, but those without a job offer will do well to scour online job portals, social networking sites such as LinkedIn and individual company websites in their fields.
Recruitment agents are also a good option. These professionals will have unique insights into the jobseeker's specific industry and can link qualified candidates with employers.
Networking is another viable avenue to make business connections and get insider tips on the local industries and job market.
Work culture in Richmond
Richmond's economy is a hive of activity, with a well-educated workforce employed across various industries. That said, the city's 'rat race' isn't nearly as frantic or cut-throat as that of major US cities. While people in Richmond are career-driven and well paid, the city's work-life balance is healthier and its pace is far more relaxed.
Like many other prominent US commercial hubs, Richmond thrives because of a willingness to accept new ideas and nurture budding entrepreneurs. The business culture is individualistic, and the workplace rewards 'go-getters' while those who lack independence and initiative lag. Status and age are mainly obsolete and, instead, merit, good ideas and hard work are the vehicles for advancement.