Start-ups in Richmond

Written by The Steele Group Sotheby’s International Realty

The economy of the city of Richmond is mainly composed of companies in the finance, law and public sector. The city holds a number of local, federal and state government agencies. Richmond is also host to some well-known banking and legal companies. Having a nice blend of traditional occupations and more modern ones, in Richmond you will also be able to find the Great Turning Basin which is mostly used by boats.

In the month of May 2013, the Federal Reserve Bank of Richmond had made public its Annual Report covering the year 2012. The report also featured an article that depicted the economic mobility situation in Richmond. Economic mobility has declined in Richmond, this was mainly the case for people either at the top or bottom of the income ladder. A number of factors were cited as being conducive to the retention and achievement of a change in economic status. One common factor that has brought this advancement was the ability that people in Richmond have of acquiring cognitive and noncognitive skills. These skills acquisition strategies were at first targeted at children in poor families. In a positive way, educational initiatives have brought a large returns on investment to the city.

Start-ups have also sprouted in Richmond and there are even regular events mostly for IT start-ups. One such event is the 54 hour Hackathon or the Startup Weekend. Richmond has become a location where startups thrive.

The Steele Group Sotheby’s International Realty might be an option if you are seeking a Chesterfield realtor in the state of Virginia. Making the choice to relocate to Richmond might be an interesting business decision. A Virginia real estate agent would be able to provide advice on home Richmond Virginia.