Greater Richmond, Virginia

“As far as the (Genworth) opera-tions in Richmond, I would say that I am very impressed by the people here. I think they are very smart and talented and experienced and they work extremely hard.”

Thomas J. McInerney,

CEO of Genworth

Financial, Inc.

At 6%, Virginia has one of the lowest corporate income tax rates in the U.S.

Home to the Virginia Bankers Association since 1893

A Top 15 city for an accounting career by NASBA, Sept. 2015

A regional hub for banking, Richmond is home to many of the nation’s most significant banks. Wells Fargo, Bank of America, SunTrust, BB&T and Capital One maintain a strong workforce in Richmond, employing over 20,000 combined. Companies like BB&T Capital Markets, Scott and Stringfellow and Davenport & Co. provide brokerage and invest-ment services to a diverse and emergent client base.

Genworth Financial, Markel Corporation, Anthem Blue Cross and Blue Shield and Allianz Global Assistance headline an incredibly deep pool of successful domestic and international insurance companies in the region. From more conventional to specialized insurance companies, the Greater Richmond region offers a wide range of insurance exper-tise and talent to meet the needs of prospective employers.

KEY COMPANIES

Below is a representative list of finance and insurance-related businesses that operate in the Greater Richmond region:

FIFTH DISTRICT FEDERAL RESERVE BANK

The Fifth District of the Federal Reserve Bank has been located in Richmond since the inception of the Federal Reserve in 1914. Just a stone’s throw from the James River, the current building was con-structed in 1975. The Richmond location employs more than 1,800 people and provides financial services to Virginia, Maryland, the Caro-linas, Washington, D.C. and parts of West Virginia. These financial services include the formulation of national monetary policy, regional data analysis and aggregation, and the supervision and regulation of financial institutions headquartered within the region.

Finance Insurance

SECTOR HIGHLIGHTS

Did you know that 49 percent of the Federal Reserve’s total floor area is located underground?

Allianz Global Assistance USA Travel insurance and assistance

Anthem Blue Cross and Blue Shield Health insurance

Bank of America Banking

BB&T Banking and brokerage

BB&T Scott and Stringfellow Brokerage and investment banking

Capital One Financial Corp. Credit cards and banking

Davenport & Company Investment services

Elephant Auto Insurance Direct-to consumer automobile insurance

Ernst and Young, LLC Accounting and financial consulting firm

First Tennessee Bank Banking

Genworth Financial Long term care insurance, life insurance and retirement solutions

Markel Corporation Insurance products and programs

Rutherfoord, a Marsh and McLennan Agency Commercial insurance brokerage

SunTrust Banking

Union First Market Bank Banking

Wells Fargo Banking

INDUSTRY INCENTIVES

Below is a sampling of available incentives relevant to the finance and insurance industry. Contact the Greater Richmond Partnership, Inc. for further information about additional incentive opportunities.

GROWING BUSINESSES

n Elephant Auto Insurance, a wholly owned subsidiary of the United Kingdom’s Admiral Group plc, has been thriving in Henrico County since 2009. The company recently relocated its headquarters to a facility large enough to house up to 600 employees, and has imme-diate plans to add at least 1,170 additional employees to its current staff. Elephant has earned numer-ous awards for their outstand-ing work environment, including being recognized as one of the top companies for attracting, retaining, and developing young professionals in the Richmond Region at the 2014 Impact Awards.

n Allianz Global Assistance USA is the world’s leading assis-tance company. Based in Germany, it provides travel insurance and personal services to clients across the globe. Employing nearly 700 Richmond-area residents, Allianz Global Assistance has experienced exponential growth since it moved its U.S. headquarters to Greater Richmond in 2009. Allianz Global Assistance now serves approxi-mately 250 million beneficiaries, including 13 million in the U.S.

On average, 34 hours per year are spent in traffic in the Richmond

Region compared to 82 hours in the District of Columbia, 74 hours in New

York City, 52 hours in Atlanta and even 43 hours in Charlotte.

Specialty insurance products thrive in the region. For instance, Markel now offers insurance for bicyclists,

with products covering physical damage, theft, liability and even

roadside assistance.

Capital One, the region’s largest employer, boasts the sixth-largest

deposit portfolio in the United States. With 11,262 employed in the region,

the Richmond area is home to Capital One’s largest corporate campuses.

Enterprise Zone Program The program assists business development and expansion in specially targeted, eco-nomically distressed areas.

Commonwealth’s Development Opportunity Fund

Designed as a “deal closing” fund to be employed at the Governor’s discretion when necessary to secure a company location or expansion in Virginia.

Major Business Facility Job Tax Credit Qualified companies locating or expanding in Virginia receive a $1,000 corporate income tax credit for each new full-time job created over a threshold number of jobs.

Virginia Economic Development Incentive Grant

Assists and encourages companies to invest and to provide new employment op-portunities by locating significant headquarters, administrative, research and develop-ment and/or similar service and basic sector operations in Virginia.

Virginia Jobs Investment Program Supports the creation of new jobs and investment and helps businesses train new and existing workers.

Workforce Services Program Provides customized recruiting and training services to companies creating new jobs.

Kevin Chidwick, CEO of Elephant Auto Insurance & CFO of Admiral Insurance

11/16

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 offer site location assistance and other services to domestic and foreign companies planning new or expanded facilities.

Miami

Boston

Richmond

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 headquartersn Population of nearly 1.3 millionn Diverse local economyn 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 radiusn Excellent transportation network with rail, air, and port servicen Nearly 30 colleges and universities with almost 80,000 students and more than 15,000 degrees conferred annuallyn Virginia is a right-to-work state with moderate wages, low levels of unionization, and Unemployment and Workers’ Compensation costs among the lowest in the U.S.

Top 10 Best States for Business

- Forbes, 2015

Top 10 Mid-Sized American Cities

of the Future- fDi Magazine,

2015

Best Big City

Job Markets- ZipRecruiter,

2015

This Finance & Insurance cluster brochure is part of a library of information. Other cluster and specialty brochures include:

BUSINESS CLUSTERS

Supply Chain Management

Health & Life Sciences

Corporate Headquarters

Data Centers

Advanced Manufacturing

Finance & Insurance

Professional & Creative Services

Food & Beverage