2019-2020 ANNUAL REPORT

Photo by Create Dog Media “Cartograf’s main facilities are located in Aguascalientes, Mexico, and as a result of constant organic growth and a substantial market share increase, the company is proud to announce its first overseas expansion, consisting of a new manufacturing facility located in the Meadowville Technology Park in Chesterfield, Va.” — Juan Jose Páramo Riestra President, Cartograf

Photo courtesy Chesterfield Economic Development

2 3 LETTER TO INVESTORS

To say that we are in the midst of uncertain times on their searches. GRP continued to market the is an understatement. However, Greater Richmond Just like many inspirational region and reach out to new prospects and as time is strong, resilient and well positioned for success went on, more and more companies resumed their despite the unknowns of what lies ahead. local companies that pivoted searches again. The latest research, as of the end Over the last year, the leadership team at the during COVID, so did the of June, revealed while many projects were put on Greater Richmond Partnership reached out to our hold in the spring, the majority of have now resumed. public-sector partners, private-sector investors and Greater Richmond Partnership But we are no longer living in the same world as when allies to discuss how they envision the organization the calendar year began. Economic development moving forward. In addition, a deep-dive analysis was has never been more competitive nor more critical. partners to bring additional direct air service to the conducted of what site location consultants think GRP is doing more to stay top-of-mind with decision region. GRP has worked to address each of these key about this region. These opinions tap into invaluable makers and has refined its approach and shifted insight that steer roughly half of all economic areas over the last year and will continue to do so. resources to be more digital than before. And the development projects. The first half of Fiscal Year 2020 saw tremendous team will continue to enhance its efforts with your This primary research revealed that our region has success with the team meeting or exceeding GRP’s help and input. the key pillars for future success. However, it also goals for jobs and investment that were set for the While other communities slowly recover, GRP’s nimble identified areas in which we can improve – by more entire year. And then COVID-19 hit. As our local actions and strategic planning will help propel the proactively working to bring visibility to our region economic development partners worked around the Richmond Region to the top of the site selection lists. and its many assets, addressing perceptions of clock to assist local businesses, companies that were And like yourself, I’m looking forward to participating available commercial real estate, and working with seeking a new-to-market location abruptly hit pause in its success.

The Honorable Leslie Haley Chair, Greater Richmond Partnership + Chair, Chesterfield Board of Supervisors

VISION MISSION STATEMENT To aggressively generate economic opportunities To globally market the as a From left, Chris Lloyd of McGuireWoods Consulting, Leonard Sledge of the City of Richmond Dept. of Economic & Community Development, that create quality jobs for all the citizens of the preferred business location, generate domestic and Garrett Hart of Chesterfield Economic Development, Lara Fritts of GRP, Leslie Haley of the Chesterfield Board of Supervisors, Anthony region and increase the tax base for needed international prospects, and support the localities’ Romanello of Henrico Economic Development Authority, and Linwood Thomas of Hanover Economic Development. community services. business retention efforts. 4 5 “This site (in Hanover) has the right combination of everything we were looking for in terms of proximity to our stores and workforce ... this facility will allow us to deliver products to our southern-most stores with increased speed and freshness and will help support our growth well into the future.” — Colleen Wegman Chief Executive Officer, Wegmans

Photo courtesy Wegmans Food Markets

6 7 RESULTS SUCCESS STORIES

When a company announces a relocation or India-based Future Foundation, an advanced expansion, GRP requests a Written Impact Narrative manufacturing software company, opened a sales (WIN) statement to verify the value provided during the and service center in Henrico County that will service project management. The following nine companies the U.S., Canada and South American markets. are considered WINs for the region: GlaxoSmithKline, a leading global healthcare Alchemco, a Henrico County-based manufacturer of company, will invest $16.7 million to expand its $ products used to clean, repair, protect, and waterproof existing consumer research and development center concrete and masonry structures, acquired Tech- in the City of Richmond. The expansion will add 304mCapital Investment New 1,798 Jobs (as stated by company) Square 1.8m Footage Impacted Crete LLC. The move will create up to 20 local jobs. approximately 183 new jobs and will serve as one of Amazon established a new specialty fulfilment and three consumer healthcare labs in the world for GSK. last-mile delivery center in the City of Richmond. The -based SimpliSafe, a leading producer of project will add 150 new jobs to Amazon’s existing self-installed home security systems, will invest $5.5 LEAD SOURCE workforce of more than 10,000 full-time employees million to establish a customer support operation in n PROSPECT ORIGIN 47% GRP Direct across the Commonwealth. Henrico County, creating 572 new jobs. n 44% Domestic n 53% Third Party/other n sources (state, local, BRANOpac, a German manufacturing company, Grocery retailer Wegmans Food Markets, which has 56% International Newly-identified111 Prospect27 visits expanded its operation to Henrico County with a stores throughout the Northeast and mid-Atlantic, will brokers, partners) to the region prospects + leads sales and competence resource center. The company invest $175 million to establish a full-service, regional plans to grow by 5 employees in 2020 and invest up distribution operation in Hanover County. The new Company WINS Industry Cluster Company Description Direct Jobs Locality Capital Investment to $500,000. 700-employee campus will allow the company to Alchemco Advanced Manufacturing Chemical concrete cleaning materials 20 Henrico County $5,000,000 Ireland-based CameraMatics, a technology firm expand its distribution network on the East Coast Amazon Supply Chain Online retailer 150 City of Richmond $10,000,000 that produces equipment for fleet tracking and data and accommodate its growing retail footprint. BRANOpac GmbH Advanced Manufacturing Food baking and separation paper maker 5 Henrico County $500,000 gathering, plans to hire up to 100 employees with $25 In addition to the above announcements, GRP staff CameraMatics Information Technology Trucking monitor systems 100 City of Richmond $25,000,000 million of capital investment over the next 5 years in assisted nine more companies that made an impact Cartograf Advanced Manufacturing Corrugated packaging production 63 Chesterfield County $65,300,000 the City of Richmond. in the region. These companies included housing development, retail and other projects where GRP Future Foundation Information Technology Quality control instrumentation 5 Henrico County $500,000 Cartograf, a provider of packaging solutions for over provided modest value. These nine projects are not GlaxoSmithKline BioScience Pharmaceutical manufacturing 183 City of Richmond $16,730,000 40 industrial sectors worldwide, will invest $65.3 counted in GRP goals or economic impact numbers SimpliSafe Information Technology Home security monitoring 572 Henrico County $5,500,000 million to establish its first U.S. folding and micro- corrugated package printing facility in Chesterfield within this report. Wegmans Food Markets Supply Chain/Corp. Services Retail grocery 700 Hanover County $175,000,000 County. The project will create 63 new jobs. Note: Jobs listed are as disclosed by the company.

8 9 “SimpliSafe has been expanding rapidly, and we are excited to partner with the talented, diverse workforce in the Richmond Region to continue keeping more and more Americans safe ... Once personalized, we’ll have a brand new, state-of-the-art contact center to provide world-class customer care. We have a lot of hiring to do and are excited to get started.” — Christian Cerda Chief Executive Officer, SimpliSafe

Photo courtesy SimpliSafe

10 11 MARKETING + MEDIA REGIONAL COOPERATION

Economic development is a team sport. As such, the Greater Richmond Partnership works hand-in- hand with each of the local economic development offices in the City of Richmond and the counties of Chesterfield, Hanover and Henrico, the Economic Development Partnership (VEDP), local businesses and allies to accomplish our mission of attracting businesses to the area. The success of the Greater Richmond Partnership is attributed to our public and private sector partners as well as our allies throughout the region. Throughout Social25% Media Interactions Email 29% Newsletter Sign-ups Google Paid 81% Search Ad efficiency CoStar flight the year, allies including those professionals in shows increased engagements shows increased interest in content drove more website visits corporate real estate, insurance, education and workforce as well as lawyers and bankers provide leads to GRP that result in projects, jobs and capital SELECTED MEDIA MENTIONS investment for the region. GRACRE Market Review GRP works hand-in-hand with a variety of economic development allies for lead generation, especially “HQ: Two letters “10 Cities “Greater site location consultants (also called site selectors) and commercial real estate brokers. that Economic to Watch Richmond: Site location consultants are involved in roughly half of all economic development projects. Each year, GRP partners with the Greater Richmond Association Annual Meeting + Investors Reception Developers covet” in 2020” Fintech Hotspot” for Commercial Real Estate (GRACRE) to recruit — Area Development, Q1 2020 — Worth magazine, Oct. 2019 — Area Development, Q3 2019 consultants to visit the region on familiarization tours Real Estate Roundtable that highlight the region’s locational advantages, “How Richmond “Home Base “Area economic talent pipeline and workforce programs. logistics firms for Corporate developers up are pivoting Headquarters” their courtship — Business Facilities, Sept. 2019 during COVID-19” with site selectors” Joint holiday party with Richmond Region Tourism VCU Real Estate — Business Facilities, April 2020 — Richmond BizSense, July 2019

12 13 “The Richmond office will act as an integral part of the CameraMatics USA expansion – and Virginia will be the home of our North American headquarters where we will build out our team of key executives to deliver our vision for driver safety in the USA. The support and assistance from the Greater Richmond Partnership has been crucial to our decision.” — Simon Murray, Co-founder, CameraMatics

14 15 ECONOMIC IMPACT REGIONAL SNAPSHOT

When the Greater Richmond Partnership assists a When a company decides to locate a new or will also continue to purchase its raw materials, 674,492 680,490 682,218 company in opening a new facility in the Richmond expanded operation in a region, they typically commit its goods and services from local businesses and 660,302 667,489 Region, we see an economic ripple effect throughout to creating the jobs over a three year time period. the local businesses where the company and its 640,248 our community: the company purchases or leases real Therefore, the impact of the jobs, capital investment employees spend their money will continue to pay estate; the company hires employees or vendors to and payroll is spread evenly over a three year time- their employees and restock their shelves. So the 41,970 perform services that they choose not to do on their frame. benefits of a new or expanded company in the net new jobs in the Richmond MSA own (such as maintenance or security); the company However, the wages paid to its employees continue Richmond Region continue, year-after-year, long after 2015 2016 2017 2018 2019 2020 between 2015-2020 purchases local goods and utilities; the employees year-after-year, as long as the company keeps the publicized announcement. spend their wages on housing, transportation, its Richmond area operation open. The company groceries, etc. $ $

$ 36.4bTotal wages paid in the Increase3.6b in total wages paid in the $ Richmond MSA in 2019 Richmond MSA between 2014-2019 capital304m investment 295min wealth creation Net new people Residents relocate locate in the to the Richmond MSA Richmond MSA from Washington, D.C. 9 16k annually 1 of 5 and New York projects 3,311 ~ direct, indirect Alchemco + induced jobs Amazon The building of local wealth creation BRANOpac GmbH improves the ability of the CameraMatics Richmond Region to: Increase in barge volume at n Cartograf Ensure local economic stability the Richmond Marine Terminal n Future Foundation Increase asset ownership $ n Anchor jobs locally 22.5% GlaxoSmithKline n SimpliSafe 213m Help achieve key environmental goals n Wegmans Food direct, indirect Expand the provision of public services + induced wages Sources: Chmura Economics and Analytics, JobsEQ, Sept. 2020; U.S. Census Bureau Community Survey; Port of Virginia Annual Report; U.S. Bureau of Economic Analysis

16 17 “The Commonwealth of Virginia and the City of Richmond provide an environment for GSK Consumer Healthcare to build leading R&D capabilities, including access to world-class talent and universities, while also offering an attractive cost of living and favorable business operating costs.” — Dr. Peter John Ramsey, PhD, Vice President and Head, GSK Consumer Healthcare R&D, The Americas

Photo courtesy GlaxoSmithKline Consumer Healthcare

18 19 BOARD OF DIRECTORS INVESTORS

PUBLIC SECTOR PREMIUM INVESTORS Chair Vice Chair Angela Kelly-Wiecek Dr. Cynthia I. Newbille Anthem Blue Cross & Blue Shield Richmond Association Leslie Haley Salvatore Mancuso Member, President, Barton Malow of REALTORS Chair, Chesterfield County Executive Vice President Hanover County City of Richmond GRACRE Universal Corporation Gumenick Properties WildFire Board of Supervisors & Chief Financial Officer Board of Supervisors City Council Williams Mullen Altria Group, Inc. Patricia S. O’Bannon Bobby Ukrop Buck Stinson Charlene Whitfield STANDARD INVESTORS Member, President & CEO Senior Vice President, Vice President - REGIONAL LEADERSHIP CIRCLE Accenture Kinsale Capital Group, Inc. Henrico County Ukrop’s Homestyle Foods U.S. Card Partnerships Distribution Operations, Anton Paar KPMG Board of Supervisors Capital One Power Delivery Group Baskervill KVCF Solutions Dominion Energy C&F Bank Lansing Building Products ChamberRVA Lingerfelt Commonwealth Partners Cherry Bekaert Long & Foster ALTERNATES Chmura Economics & Analytics Luck Stone Corporation City Central Marsh & McLennan Agency Lenora Reid Dr. Joseph P. Casey Rhu Harris John Vithoulkas Collegiate School The Monument Companies Chief Administrative County Administrator, Administrator, County Manager, ColonialWebb Patient First Columbia Gas of Virginia Porter Realty Co. Officer, Chesterfield County Hanover County Henrico County Creative PwC City of Richmond Cushman & Wakefield | Thalhimer Reynolds Development Dewberry The Richmond Group USA Dixon Hughes Goodman S.W. Funk Industrial Contractors Ernst & Young Shamin Hotels EX-OFFICIO Executive Leadership Forum Sheetz Fulton Bank South State Bank Phillip Avant General Counsel GrayCo Southeast Industrial Equipment Central Va. Market John D. O’Neill Jr. Harris Williams & Co. Sports Backers President, Commercial Partner, Have Site Will Travel St. Christopher’s School HHHunt Swedish Match Banking Team Leader Hunton Andrews Kurth Hirschler ThompsonMcMullan SunTrust Bank The Hodges Partnership Timmons Hourigan TowneBank Richmond Transportation Virginia Air Distributors Jewett Automation Virginia Credit Union Jewett Machine Manufacturing Virginia Economic Development John Tyler Community College Partnership STAFF JPMorgan Chase Virginia Maritime Association Lara L. Fritts, President & CEO Michael C. Ivey, VP of Marketing & Communications Kaufman & Canoles Whiteford Taylor Preston Jennifer Wakefield, Chief Operating Officer Marissa Parker, Manager of Research KBS Whiting-Turner Contracting Eric K. Miller, SVP of Business Development Chuck Peterson, VP of Research Keiter Whitlock Kings Dominion The Wilton Companies Wendy Fountain, Administrative Coordinator Audrey Polk, VP of Business Development Kassidy Hadley, Manager of Business Development Anita Saunders, Manager of Operations & Corporate Secretary

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The Greater Richmond Partnership is a 501(c)(3) nonprofit organization. A financial statement is available upon written request from the Office of Charitable and Regulatory Programs.