Outreach and Assistance Program Reports Positive News on Job Growth and New Investment for the Region

( Richmond , Virginia ) June 11, 2008… Based on 282 face-to-face interviews with area business leaders – the Richmond regional economy continues to grow. That's according the first half of 2008 results of an ongoing business retention and expansion program, Business First Greater Richmond.

The 282 firms consulted represent a broad cross section of companies of various sizes and industries. Thirty-seven percent of all firms responding indicated that they plan to add additional jobs over the coming 12 month period. Fifty-nine percent report plans to hold employment at current levels and only 4% of the firms anticipate reducing their staffing levels. These results are a stark contrast to a recent Manpower survey.

“A s you drill down deeper into a broader cross section of the Richmond area business community, the discussions that we have been having with leadership is very different from the recent Manpower survey. There is more optimism in the marketplace, as reflected by a much higher percentage of companies planning to add staff than what was noted by Manpower ”, states Greg Wingfield, President and CEO of the Greater Richmond Partnership, Inc. Additionally, 30% of interviewed firms are planning physical expansions in the coming year with estimated investment of more than $39 million in new facilities and equipment.