Business & Financial Services
The Business and Financial Services industry is the largest industry group in the region, employing nearly 14,000 people in over 4,000 firms. The presence of an extensive fiber optics network and redundant, low cost electric power have contributed to the area’s desirability for data centers and other companies with strict technology infrastructure requirements. Central Virginia is strategically located in proximity to major financial centers, such as Washington, DC and Richmond, while being removed from the associated costs and congestion, further enhancing the desirability of the region to business & financial services firms.
The University of Virginia’s McIntire School of Commerce and Darden School of Business produce world class graduates in the fields of business, marketing, accounting, and finance. These schools supply Central Virginia with graduates armed with the most advanced business techniques, technology, and strategies. In addition to recent graduates, businesses can easily entice experienced professionals from these schools back to Central Virginia, supplementing the existing labor pool.
The Business and Financial Services sector has outpaced industry and national growth, growing by 20% over the past 5 years and projected to grow by nearly 5% over the next 5 years. By leveraging the educated labor pool, strategic location, and technology infrastructure, business and financial services firms find success and opportunities for growth in Central Virginia.
|Number of Firms||3,578|
|Number of Workers||12,155|
|Avg. Annual Growth Rate||1.2%|