Peer regions were chosen for their comparable size and composition. These same regions have been used for comparison in multiple other studies and reports.
Source: YourEconomy.org, a product of the Edward Lowe Foundation, 2016.
YourEconomy categorizes employment establishment into 4 stages with the largest being stage 5 (500+ employees).
Note: The methodology changed in 2015. (The 2016 RVA Snapshot used the previous methodology).
Why It's Important
This indicator shows how many large companies (500+ more employees) are located within the peer regions. This captures many corporate headquarters, including any Fortune 1000 or Fortune 500 companies. Regions with a large number of major companies allow access to capital and a talented labor force pool.
In the Richmond Region, the number of large companies with 500+ employees has decrease from 103 to 98 since 2015.