In FY 2023, Richmond continued capturing the attention of onlookers worldwide with its dynamic local economy, vibrant commercial districts, large-scale development projects, and job and population growth.

The City and its partners claimed nine Excellence in Economic Development Awards from the International Economic Development Council (IEDC), illustrating our dedication to impactful economic development work. Richmond’s labor force reached historic highs, strengthened by our robust talent pipeline. The life sciences sector continues to expand, highlighting our commitment to innovation. Record-breaking announced capital investment, driven by transformational redevelopment projects, strengthens our foundation for a prosperous future.

We also launched the new Richmond Real brand for the City’s external Economic Development efforts, with the tagline: “Real Talent. Real Growth. Real Success.” We’ve carried this theme throughout the report to highlight how our collective efforts and strategic initiatives bolster Richmond’s trajectory for success.