Greater Richmond is a magnet for labor, drawing workers from more than 40 localities statewide. Its diverse economy includes pharmaceutical, chemical, biotech, semiconductor, and other 21st century manufacturers as well as financial and information technology services. Varied industries combined with numerous educational institutions provide an ample supply of employees with a range of skills and experience for new and expanding companies. 

To compete in a 21st century economy, Richmond is embracing new technologies. The city created a comprehensive "Region Ready" business climate tailored to the needs of semiconductor and related microelectronic manufacturing. Over 70 local semiconductor suppliers and vendors are in place in the region to support the industry. In addition, the area is home to the Virginia BioTechnology Research Park which houses Virginia's first technology incubator. The center, whose 34-acre downtown campus, houses laboratory, office, meeting, and support space, which has helped over 50 new technology companies open in Greater Richmond.

Philip Morris USA has also joined the BioTech Park community building a brand new Research & Technology Center that will bring the Park to two-thirds of its development capacity. The BioTech Park will have more than 1.2 million square feet of space and will employ more than 2,000 scientists, researchers, engineers and technicians. Fields housed in the BioTech Park include drug development, medical diagnostics, biomedical engineering, forensics and environmental analysis.

In addition to a strong economy and a constantly expanding business community, Greater Richmond offers companies a number of additional perks ranging from infrastructure improvement incentives to road access, enterprise zones to relocation services.