Editing Richmond, Virginia (section)

==Economy==
[[File:Tobacco Warehouse Interior, Richmond, Virginia.jpg|thumb|Richmond tobacco warehouse c. 1910s]]
Richmond's strategic location on the [[James River]] at the rocky [[Atlantic Seaboard fall line|fall line]] separating Virginia's [[Piedmont region of Virginia|Piedmont]] and [[Tidewater region]]s made it a natural development point for commerce. For centuries and three modes of transportation—boats, with the Great Turning Basin; railroad, with the world's only [[Triple Crossing|triple crossing]] of rail lines; and cars, with two intersecting major interstates—the downtown has always been a natural hub.

Law and finance have long been driving forces in the economy.<ref>{{cite web |url=http://www.whittenbrothers.net/oldest-businesses-richmond.htm |title=The Oldest Businesses in Richmond |publisher=Whitten Brothers |access-date=July 8, 2016 |archive-url=https://web.archive.org/web/20160710160930/http://www.whittenbrothers.net/oldest-businesses-richmond.htm |archive-date=July 10, 2016 |url-status=dead}}</ref> Richmond is home to the Virginia Supreme Court; one of the four courts in the United States District Court for the Eastern District of Virginia; one of the four divisions of the United States Bankruptcy Court for the Eastern District of Virginia;<ref>{{Cite news |last1=Corkery |first1=Michael |last2=Silver-Greenberg |first2=Jessica |title=Why Companies Like Toys R Us Love to Go Bust in Richmond, Va. |work=[[The New York Times]] |date=November 22, 2017 |url=https://www.nytimes.com/2017/11/14/business/economy/richmond-bankrupty-court.html |language=en-US |issn=0362-4331 |access-date=March 11, 2019 |archive-url=https://web.archive.org/web/20190218021748/https://www.nytimes.com/2017/11/14/business/economy/richmond-bankrupty-court.html |archive-date=February 18, 2019 |url-status=live}}</ref> and the [[United States Court of Appeals for the Fourth Circuit]], one of thirteen such [[United States courts of appeals|appeals courts]]. Richmond is headquarters to some large law firms: [[Hunton Andrews Kurth]], [[McGuireWoods]], and [[Williams Mullen]]. [[Troutman Sanders]], which merged with Richmond-based Mays & Valentine LLP in 2001, also has a significant presence.

The city also is home to the [[Federal Reserve Bank of Richmond]], one of twelve such [[Federal Reserve System|banks]], with many large financial and other companies having significant offices, like [[Genworth Financial]], [[Capital One]], [[Philip Morris USA]], and several banks and brokerages.

Since the 1960s, Richmond has been a prominent hub for advertising agencies and related businesses. One of the most notable Richmond-based agencies, [[The Martin Agency]], was founded in 1965 and employs 500. With local advertising agency support, [[VCU]]'s graduate advertising school (VCU Brandcenter) has consistently ranked as the best graduate advertising program in the country.<ref>[http://www.adcenter.vcu.edu/html/news/articles/adschoolreview05.pdf The Top 5]. ''[[Creativity Magazine|Creativity]]''. March 2005.  {{webarchive |url=https://web.archive.org/web/20071201040438/http://www.adcenter.vcu.edu/html/news/articles/adschoolreview05.pdf |date=December 1, 2007}}</ref>

Richmond is home to the rapidly developing Virginia BioTechnology Research Park,<ref>{{cite web |url=http://www.vabiotech.com/ |title=Home • Virginia BioTechnology Research Park • The new East Coast center for biosciences |work=vabiotech.com |access-date=July 27, 2005 |archive-url=https://web.archive.org/web/20050728073213/http://www.vabiotech.com/ |archive-date=July 28, 2005 |url-status=dead}}</ref> which opened in 1995 as a biotechnology and pharmaceutical incubator. Located adjacent to the Medical College of Virginia (MCV) Campus of [[Virginia Commonwealth University]], the park has over {{cvt|575000|ft2|m2}} of research, laboratory, and office space for a diverse tenant mix of companies, research institutes, government laboratories, and non-profit organizations. The [[United Network for Organ Sharing]], which maintains the nation's [[organ transplant]] waiting list, occupies one building in the park. [[Philip Morris USA]] opened a $350 million research and development facility in the park in 2007. Once fully developed,{{clarify|date=March 2024|reason=when? Is this intended to signify a scheduled date? Or is this meant to indicate a maximum occupancy?}} park officials expect the site to employ roughly 3,000 scientists, technicians and engineers.
[[File:Falls of the James, Downtown Richmond, Virginia, 2008.JPG|thumb|The James River]]
Richmond's revitalized downtown includes the Canal Walk, a new Greater Richmond Convention Center, and expansion on both [[VCU]] campuses. A new performing arts center, [[Richmond CenterStage]],<ref>{{cite web |url=http://www.richmondcenterstage.com/ |title=Richmond Center Stage |publisher=Richmond Center Stage |access-date=November 1, 2011 |archive-url=http://webarchive.loc.gov/all/20150815064928/http%3A//www.richmondcenterstage.com/ |archive-date=August 15, 2015 |url-status=live}}</ref> opened on September 12, 2009.<ref name="centerstage">Ruggieri, Melissa. "[https://archive.today/20120829200054/http://www2.timesdispatch.com/rtd/entertainment/theatre_arts/article/W-CENT10_20090909-192201/291639/ Richmond CenterStage opens its doors Saturday]." ''[[Richmond Times-Dispatch]].'' September 9, 2009. Retrieved on January 20, 2010.</ref> The complex included a renovation of the Carpenter Center and construction of a new multipurpose hall, community playhouse, and arts education center in parts of the old Thalhimers department store.<ref>Jones, Will. "[https://archive.today/20120715111603/http://pqasb.pqarchiver.com/timesdispatch/access/1195513501.html?dids=1195513501:1195513501&FMT=ABS&FMTS=ABS:FT&type=current&date=Jan+14,+2007&author=WILL+JONES&pub=Richmond+Times+-+Dispatch&edition=&startpage=A.1&desc=At+last,+showtime's+set Showtime's set]." "[[Richmond Times-Dispatch]]". January 14, 2007. Retrieved on February 22, 2007.{{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}}</ref>

[[Microbrewery|Craft beer]], [[cider]], and [[liquor]] production is also growing in the River City, with twelve micro-breweries in the city. The oldest is Legend Brewery, founded in 1994. Two cideries, Buskey Cider and Blue Bee Cider, are located in the popular beverage neighborhood of [[Scott's Addition Historic District|Scott's Addition]],<ref>{{cite web |url=https://wtvr.com/2016/04/20/buskey-hard-cider-virginia-grown-apples-on-tap-in-scotts-addition/ |title=Buskey Hard Cider: Virginia grown apples on tap in Scott's Addition |date=April 20, 2016 |access-date=December 18, 2018 |archive-url=https://web.archive.org/web/20181219044045/https://wtvr.com/2016/04/20/buskey-hard-cider-virginia-grown-apples-on-tap-in-scotts-addition/ |archive-date=December 19, 2018 |url-status=dead}}</ref> which has nine breweries, one [[meadery]], and one distillery.<ref>{{cite web |url=https://www.scottsaddition.com/about-scotts-addition/ |title=About Scott's Addition – Richmond, Virginia's Fastest Growing Community |access-date=December 18, 2018 |archive-url=https://web.archive.org/web/20181219134228/https://www.scottsaddition.com/about-scotts-addition/ |archive-date=December 19, 2018 |url-status=dead}}</ref> Richmond's three [[Distillation|distilleries]] are Reservoir Distillery, founded in 2010; Belle Isle Craft Spirits, started in 2013; and James River Distillery, established in 2014.

Richmond is attracting film and television industry attention. Several high-profile films have been shot in the metro region, including the major 2012 motion picture ''[[Lincoln (2012 film)|Lincoln]],'' for which [[Daniel Day-Lewis]] won his third Oscar; ''[[Killing Kennedy (film)|Killing Kennedy]]'' with [[Rob Lowe]], 2013, airing on the [[National Geographic Channel]]; and ''[[Turn: Washington's Spies|Turn]]'', starring [[Jamie Bell]] and airing on [[AMC (TV channel)|AMC]]. Richmond was the main filming location for the [[PBS]] drama series ''Mercy Street'', which premiered in Winter 2016. Several organizations, including the Virginia Film Office and the Virginia Production Alliance, and events, like the Richmond International Film Festival and French Film Festival, continue to draw film and media professionals to the region.

===Corporations===
[[File:City of Richmond Business District.jpg|thumb|Six [[Fortune 500|''Fortune'' 500]] companies are headquartered in the Richmond area.]]

Greater Richmond was named the third-best city for business by [[MarketWatch]] in September 2007, ranking behind Minneapolis and Denver and above Boston. The area is home to six [[Fortune 500|''Fortune'' 500]] companies: electric utility [[Dominion Energy]]; [[CarMax]]; [[Owens & Minor]]; [[Genworth Financial]]; [[MeadWestvaco]]/ [[WestRock]]; and [[Altria Group]].<ref name="Fortune500" /> Dominion Energy is the only headquartered in the city of Richmond. The others are located in neighboring [[Henrico County, Virginia|Henrico]] and [[Hanover County, Virginia|Hanover]] counties.<ref>{{cite web |url=https://www.richmond.com/business/local/richmond-area-now-home-to-fortune-companies-up-from-last/article_d027a921-761a-5245-8966-383cc6936306.html |title=Richmond area now home to 8 Fortune 500 companies, up from 6 last year |first=Anna |last=Akins |website=Richmond Times-Dispatch |date=June 7, 2016 |access-date=August 26, 2019 |archive-url=https://web.archive.org/web/20190826180527/https://www.richmond.com/business/local/richmond-area-now-home-to-fortune-companies-up-from-last/article_d027a921-761a-5245-8966-383cc6936306.html |archive-date=August 26, 2019 |url-status=live}}</ref> In February 2006, [[MeadWestvaco]] announced a 2008 move from [[Stamford, Connecticut]], to Richmond with assistance from the Greater Richmond Partnership,<ref name="ATL Business Chronicle - MWV">{{cite web |title=City's bid for corporate HQ lost in traffic |url=http://www.bizjournals.com/atlanta/stories/2007/03/19/story2.html?page=all |work=Atlanta Business Chronicle |access-date=July 16, 2013 |archive-url=https://web.archive.org/web/20140223133815/http://www.bizjournals.com/atlanta/stories/2007/03/19/story2.html?page=all |archive-date=February 23, 2014 |url-status=live}}</ref> a regional economic development organization that also helped locate [[Aditya Birla Minacs]],<ref name="Yahoo Finance - Minacs">{{cite news |title=Minacs to Hire 250+ in Richmond, VA: Invites Applications |url=https://finance.yahoo.com/news/minacs-hire-250-richmond-va-130000178.html |access-date=July 15, 2013 |newspaper=Yahoo Finance |date=March 20, 2013 |archive-url=https://web.archive.org/web/20140113172218/http://finance.yahoo.com/news/minacs-hire-250-richmond-va-130000178.html |archive-date=January 13, 2014 |url-status=live}}</ref> [[Amazon.com]],<ref name="Retailing Today - Amazon">{{cite web |title=Amazon.com to open two fulfillment centers in Va. |url=http://retailingtoday.com/article/amazoncom-open-two-fulfillment-centers-va |work=Retailing Today |access-date=July 16, 2013 |url-status=dead |archive-url=https://web.archive.org/web/20140113084903/http://retailingtoday.com/article/amazoncom-open-two-fulfillment-centers-va |archive-date=January 13, 2014}}</ref> and [[Honeywell International]]<ref name="Business Facilities - Honeywell">{{cite web |title=Honeywell Expands Advanced Fiber Production in Virginia |url=http://businessfacilities.com/honeywell-expands-advanced-fiber-production-in-virginia/ |work=Business Facilities |access-date=February 9, 2012 |archive-url=https://web.archive.org/web/20131105192328/http://businessfacilities.com/honeywell-expands-advanced-fiber-production-in-virginia/ |archive-date=November 5, 2013 |url-status=dead}}</ref> to the region. In 2008, Altria moved its corporate HQ from New York City to Henrico County. In July 2015, MeadWestvaco merged with Georgia-based Rock-Tenn Company creating [[WestRock]] Company.
[[File:Philip Morris Ads.JPG|thumb|An old advertisement for Philip Morris, now [[Altria]].]]
Other [[Fortune 500]] companies without headquarters but with a significant presence in the Richmond area include [[SunTrust Banks]] (based in [[Atlanta]]), [[Capital One]] (officially based in [[McLean, Virginia]], but founded in and with its operations center and most employees in the Richmond area), and medical and pharmaceutical giant [[McKesson Corporation]] (based in Las Colinas, Texas). [[Thermo Fisher Scientific]] came to the Richmond area in December 2021 when it acquired the contract research organization [[PPD, Inc.|PPD]]. Capital One and Philip Morris USA are two of the largest private Richmond-area employers. [[DuPont]] maintains a production facility in South Richmond known as the Spruance Plant. [[UPS Freight]], the less-than-truckload division of [[United Parcel Service]] has its corporate headquarters in Richmond.

Other companies based in Richmond include engineering specialists [[CTI Consultants]]; chemical company [[NewMarket Corporation|NewMarket]]; [[Brink's]], the security and armored car company; [[Estes Express Lines]], a freight carrier; [[Universal Corporation]], a tobacco merchant; [[Cavalier Telephone and TV|Cavalier Telephone]], now Windstream, a telephone, internet, and digital television provider formed in Richmond in 1998; [[Cherry Bekaert & Holland]], a top 30 accounting firm serving the [[Southeastern United States|Southeast]]; the law firm of [[McGuireWoods]]; [[Elephant Insurance]], an insurance company subsidiary of [[Admiral Group]]; and [[Media General]], a company specializing in broadcast media.

===Poverty===
As of 2016, 24.8% of Richmond residents live below the [[federal poverty line]], the second-highest among the 30 largest cities and counties in Virginia.<ref>Sarah Kleiner, [http://www.richmond.com/news/virginia/richmond-s-poverty-rate-is-second-highest-in-virginia/article_379d6968-ea24-5239-8f7b-5d4cc3e66394.html Richmond's poverty rate is second-highest in Virginia] {{Webarchive |url=https://web.archive.org/web/20170701030252/http://www.richmond.com/news/virginia/richmond-s-poverty-rate-is-second-highest-in-virginia/article_379d6968-ea24-5239-8f7b-5d4cc3e66394.html |date=July 1, 2017 }}, ''Richmond Times-Dispatch'' (September 15, 2016).</ref> An [[Annie E. Casey Foundation]] report issued in 2016 also determined that Richmond had a [[child poverty]] rate of 39%, more than double Virginia's overall rate.<ref>Sarah Kleiner & Katie Demeria, [http://www.richmond.com/news/virginia/richmond-s-percent-child-poverty-rate-is-more-than-twice/article_81ddabbe-f84d-5ef0-aa35-d7a2aed3a19d.html Richmond's 39 percent child poverty rate is more than twice that of all Virginia, according to study] {{Webarchive |url=https://web.archive.org/web/20180802121829/https://www.richmond.com/news/virginia/richmond-s-percent-child-poverty-rate-is-more-than-twice/article_81ddabbe-f84d-5ef0-aa35-d7a2aed3a19d.html |date=August 2, 2018 }}, ''Richmond Times-Dispatch'' (June 20, 2016).</ref> As of 2016, Richmond had the second-highest rate of [[eviction]] filings and judgments of any American city with a population of 100,000 or more (in states where complete data was available).<ref>Emily Badger & Quoctrung Bui, [https://www.nytimes.com/interactive/2018/04/07/upshot/millions-of-eviction-records-a-sweeping-new-look-at-housing-in-america.html In 83 Million Eviction Records, a Sweeping and Intimate New Look at Housing in America] {{Webarchive |url=https://web.archive.org/web/20180407154305/https://www.nytimes.com/interactive/2018/04/07/upshot/millions-of-eviction-records-a-sweeping-new-look-at-housing-in-america.html |date=April 7, 2018 }}, ''New York Times'' (April 7, 2018).</ref> Some Richmond neighborhoods, such as the [[Creighton Court]] public-housing complex, have high concentrations of poverty.<ref>Tina Grieg, [https://www.washingtonpost.com/news/storyline/wp/2014/10/31/trying-to-make-it-in-a-neighborhood-with-a-70-percent-poverty-rate/ Trying to make it in a neighborhood with a 70 percent poverty rate] {{Webarchive |url=https://web.archive.org/web/20180408010226/https://www.washingtonpost.com/news/storyline/wp/2014/10/31/trying-to-make-it-in-a-neighborhood-with-a-70-percent-poverty-rate/ |date=April 8, 2018 }}, ''Washington Post'' (October 31, 2014).</ref><ref>Mark Robinson, [http://richmondmagazine.com/news/features/creighton-court/ To Live and Die in Creighton Court] {{Webarchive |url=https://web.archive.org/web/20180408141340/http://richmondmagazine.com/news/features/creighton-court/ |date=April 8, 2018 }}, ''Richmond Mag'' (July 28, 2016).</ref>