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Greater Richmond, Virginia Greater Richmond, Virginia “Since McKesson acquired General Medical in 1997, our Medical-Surgical business has maintained its headquar- ters in Henrico County. Over those years, McKesson has benefited from the diverse talent pool in the Greater Richmond area. This talent pool has been a strategic advantage for us. The region consistently proves to be a valuable aspect of our recruitment eforts.” Stanton McComb President, Medical-Surgical, McKesson Corporation There are more than Va. bio businesses are VCU implanted the 300 bioscience growing at nearly 60% first artificial heart firms in the state above the U.S. rate on the East Coast SECTOR HIGHLIGHTS Health Information & Management Life Sciences Innovative Care Greater Richmond has more than 17,000 Virginia Commonwealth University Richmond is home to four teaching hospi- workers employed in computer occupa- provides invaluable R&D as well as tals with a broad range of nationally ranked tions and is recognized as a top location for opportunities for early stage and established specialty areas including cancer treatment, IT workers. Regional technology strengths companies at the Virginia BioTechnology Re- neurosurgery, rehabilitation, and kidney include bioinformatics, health benefts man- search Park. Richmond is home to a burgeon- disorders. A combination of top-quality care agement systems, electronic health records, ing medical device community and estab- and cutting-edge treatments makes Richmond medication management, patient monitoring lished frms like Pfzer and Fareva as well as a preferred health care destination. software and medical equipment supply chain the suppliers who support the sector. solutions. KEY COMPANIES Below is a representative list of health and life science-related businesses that operate in the Greater Richmond region: Bon Secours Health System Hospital system Clinical Research Partners Clinical trials Fareva Pharmaceutical manufacturing HCA Virginia Health System Hospital system Kaléo Specialty pharmaceuticals/medical devices McKesson Medical-Surgical, Inc. Medical and surgical supplies Owens and Minor Inc. Medical and surgical supplies Pfizer Pharmaceutical R&D center PPD Development CRO discovery, R&D Phase I & IV development True Health Diagnostics Clinical testing laboratory VCU Health System Teaching hospital Va. Division of Consolidated Laboratory Services Analytical testing services to the Commonwealth of Virginia Wako Chemicals USA Specialty chemicals & diagnostic reagents manufacturing, R&D VIRGINIA COMMONWEALTH UNIVERSITY n A “Top 100” life sciences research center. n More than $270 million in sponsored research in 2015 and designated as a research university with high research activity by the Carnegie Foundation. n Medical College of Virginia - The largest teaching hospital on the East Coast and one of the largest in the nation. n A Level I trauma center and one of only two NCI-designated cancer centers in Virginia. n da Vinci Center for Innovation - A collaboration of the Schools of the Arts, Business and Engineering, offers a collegiate model that advances interdisciplinary innovation and technology-based entrepreneurship. n School of Engineering - Offers undergraduate and graduate degrees in biomedical, chemical and life science, electrical and computer, mechanical, and nuclear engineering More than 4,000 life science students and in computer science. graduate each year. VIRGINIA BIOTECHNOLOGY RESEARCH PARK & OTHER KEY ASSETS n The 34-acre site is located in down- town Richmond adjacent to the VCU In 1962, MCV Hospitals opened the Medical Center. first Clinical Transplant Center which n Home to more than 60 life science remains the longest standing unit companies, research institutes, and state of its kind in the U.S. and federal laboratories, employing over 2,400 scientists, engineers and research- ers. n Consists of nine buildings, totaling over 1.3 million square feet of research and offce space and growing. Two satellite biotech parks are scheduled for surrounding counties. Every organ donation and transplant n Tenants include Altria Center for in the U.S. comes through downtown Research & Technology, United Network Richmond through the vast computer for Organ Sharing (UNOS), True Health system at the United Network for Diagnostics, Virginia Department of Organ Sharing (UNOS) headquarters. Forensic Science, Virginia Division for Consolidated Laboratory Services. n Houses an incubator facility, the Virginia Biotechnology Center, which has supported more than 70 bioscience companies in opening, including three publicly traded graduates. n Virginia Biotechnology Association, Bon Secours Virginia Health System the statewide non-proft trade associa- was one of twenty five companies in tion, is headquartered at the Park. the nation to be named Best Company for Multicultural Women by Working Mother. INDUSTRY INCENTIVES Below is a sampling of available incentives relevant to the health and life science industry. Contact the Greater Richmond Partnership, Inc. for further information about additional incentive opportunities. Commonwealth Research Provides grants to technology firms, loans to construct wet-labs and support for and Commercialization Fund the Virginia Small Business Innovation Research (SBIR) Match Program. Known as the “Angel Investor Tax Credit” for individuals or corporations making Bioscience Investment Tax Credit investments in businesses in technology fields. Seed-Stage Equity Investment: Center “Gap” Fund that makes seed-stage equity investments in for Innovative Technology “Gap” Fund Virginia-based technology and life science firms. Virginia Life Science Investments LLC Assists Israeli life science companies with preparing U.S. market entry. CIT creates new technology companies through capital formation, Center for Innovative Technology market development and revenue generation services. Research and Development Expenses Tax Credit Provides a tax credit for qualifying research and development expenses. Assists and encourages companies to invest and to provide new Virginia Economic Development Incentive Grant employment opportunities. Discretionary performance incentives designed for Virginia manufacturers or Virginia Investment Partnership Grant Fund research and development services supporting manufacturing. WHY GREATER RICHMOND FOR YOUR BUSINESS? Richmond is the capital of Virginia, the center of commerce, government and academic endeavors: n Home to 8 Fortune 500 headquarters n Population of nearly 1.3 million Boston n 6% corporate income tax rates hasn’t changed since 1972 n Located at the mid-point of the East Coast, less than 100 miles from Washington, D.C., with more than 50 percent of the nation’s consumers within a 750-mile radius n Excellent transportation network with rail, air, and port service n Nearly 30 colleges and universities with almost 80,000 Richmond students and more than 15,000 degrees conferred annually n Virginia is a right-to-work state with moderate wages, low levels of unionization, and Unemployment and Workers’ Com- pensation costs among the lowest in the U.S. Top 10 Best Top 10 Best States for Mid-Sized Big City Miami Business American Cities Job Markets - Forbes, of the Future - ZipRecruiter, 2015 - fDi Magazine, 2015 2015 BUSINESS CLUSTERS This Health & Life Sciences cluster brochure is part of a library of information. Other cluster and specialty brochures include: Professional Supply Chain Advanced Corporate & Creative Management Manufacturing Headquarters Services Finance & Food & Health & Life Data Centers Insurance Beverage Sciences 901 East Byrd Street | Suite 801 | Richmond, VA 23219 USA | 804 643 3227 | grpva.com The Greater Richmond Partnership, Inc., is the regional economic development group representing the City of Richmond and the Counties of Chesterfield, Hanover and Henrico. We ofer site location assistance and other services to domestic and foreign companies planning new or expanded facilities. 9/16.
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