Richmond Economic & Community Development February 2011 E-News

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February 2011 E-Newsletter

Volume 1, Issue 2

February 28, 2011

Mayor Jones Gives State of the City Address

Focus on Economic & Community Development Achievements

StateofCitySpeech

2011 State of the City Address

On Thursday, February 3, 2011, Mayor Jones delivered his second State of the City Address to a full house at the newly renovated historic Hippodrome Theater in Jackson Ward. Address highlights included the improvement of the city's aging infrastructure, the groundbreaking of new LEED-certified schools, economic and community development revitalization efforts and a new emphasis on cultural tourism. Click here to view the transcript of the Mayor's speech. Click here to watch the video of the State of the City Address.

Richmond Ranked 7th Best City for Business

Wall Street Journal's Marketwatch 2011 Report

Dominion Resources HQ in downtown Richmond, ranked 153 in the Fortune 500.

Richmond ranked seventh in this year's review of best cities for business by the Wall Street Journal's Marketwatch. Marketwatch cited Richmond's strategic location an hour and a half to metro Washington, D.C. by car as well as its lower-cost business environment.

Richmond was also noted for its high concentration of S&P 500 companies and low unemployment rate. To read the full article, please click here.

More Companies Choose City of Richmond

Swedish Match, Tumblr, Hunt Investments LLC & Armada Hoffler Invest in Richmond

700 Centre Tower

Swedish Match North America,
a tobacco product and light manufacturer/developer signed a three-year lease to rent 17,054 square feet in the James Center office park.

Tumblr, a New York City-based social media service has chosen Richmond's Manchester district as the location of its second office. David Karp, founder of Tumblr, said he chose Richmond based on the area's large user base and local talent. For more info, click here.

The local development firm, Hunt Investments LLC, and Virginia Beach-based Armada Hoffler recently purchased 700 Centre Tower in downtown Richmond. The developers plan on converting the 12-story building, originally built in 1912, into 115 units of studios, one- and two-bedroom apartments. For more info, click here.

2010 Census: City Population Increasing

First time in 40 years City of Richmond population has increased

TobaccoRow

Richmond's Tobacco Row.

Early results from the 2010 Census for the Richmond region were released, indicating that the city of Richmond population has increased for the first time in 40 years, from 197,790 residents in 2000 to 204,214 in 2010.

In a Richmond Times -Dispatch article, Michael Condon, 29, one of the residents who is part of Richmond's growth and the influx of creative, young professionals into the Manchester area states, "All the suburban stuff is too cookie-cutter for my taste." He said Manchester's gritty, urban landscape suits his lifestyle.

Mayor Jones stated, "We are excited about the new census count that shows the city of Richmond crossing the 200,000 population mark. Our new population count allows our city to acces a greater share of federal funding for transportation and economic development opportunities."

To read the full Richmond Times-Dispatch article, please click here.

Federal EDA Approves City's Comprehensive Economic Development Strategy (CEDS)

Creates Opportunity to Access Federal Funds

In December 2010, Richmond City Council approved the City Administration's process for completing the Comprehensive Economic Development Strategy (CEDS). The document was approved by the Economic Development Administration (EDA) of the U.S. Chamber of Commerce in January 2011.

CEDS is an analytical document which considers important economic development assets and opportunties, such as infrastructure, workforce development and target industries. While the CEDS is an important tool to help the City achieve its economic development goals, it is also a prerequisite for access to funding opportunities through the EDA. To read the CEDS, please click here.

Why Richmond? An Interview with Alex Nyerges, Director of the Virginia Museum of Fine Arts

VMFA Hosts Exclusive East Coast Picasso Exhibit: February 19 - May 15, 2011

Alex Nyerges, Director of the VMFA

The Virginia Museum of Fine Arts will host a landmark exhibition in honor of its 75th anniversary,

Picasso: Masterpieces from the Musee National Picasso in Paris. The VMFA is the only East Coast venue in the seven-city international tour.

The Musee National Picasso in Paris represents works produced during every major artistic period during Pablo Picasso's career, including 176 works from his personal collection. It is the most significant and largest repository of the artist's work in the world.

The exhibition will be on display from February 19 - May 15. For additional information, please click here.

Click here to view the in-depth interview with Alex Nyerges, Director of the Virginia Museum of Fine Arts, who highlights the new exhibit as well as explains why he is "more in love with Richmond than ever before."

Peter H. Chapman city logo

Deputy Chief Administrative Officer

& Acting Director of Economic & Community Development

Jane C. Ferrara, CCIM

Deputy Director & Chief Operating Officer

Economic & Community Development

Mayor Dwight C. Jones

Click here to view the Mayor's Monthly E-Newsletter

Recent Accolades:

Richmond a Top Ten City for Filmakers by MovieMaker Magazine

Richmond Receives Award for Environmental Pioneering Work

Richmond CenterStage Receives Reconstruction Award from Building Design and Construction Magazine

New GRTC HQ Awarded Industrial Project of the Year

Tax Delinquent Property Auction: March 1, 2011

The City of Richmond is holding an auction of tax delinquent property on Tuesday, March 1st through Motley's Auction Group. To learn more, click here.