Midsized Cities
This year's top-rated midsized metropolitan area is no stranger
to our ranking--and it's no surprise why. A hotbed of high-tech
activity, the Richmond/Petersburg, Virginia, area boasts the kind
of pro-business climate that draws Fortune 500 companies and
entrepreneurial enterprises alike. Circuit City Stores, Reynolds
Metals and Eskimo Pie Corp. all have headquarters here, a
stone's throw away from our nation's capitol.
Cited in a recent national study as the second most cost-effective metropolitan area in which to do business, Richmond also affords entrepreneurs the advantage of being no more than a two-day drive from 40 percent of U.S. markets. And, as far as educational resources go, the Virginia Biotechnology Research Park complements four-year academic institutions such as the Virginia Commonwealth University and the University of Richmond.
Speaking of resources, an active Capitol Area Small Business Development Center as well as the Greater Richmond Partnership--a regional economic development organization--assists and encourages businesses to bloom in Richmond just as surely as the state's flowering dogwoods grow.
If there's a downside for the area's small businesses--many of which are concentrated in the service sector--it is that such a boom in companies and workers places greater demand on Richmond's infrastructure. The local airport, in particular, could use some upgrading. That said, however, this area's entrepreneurs are generally optimistic--and rightly so.
This article was originally published in the October 1997 print edition of Entrepreneur with the headline: 20 Best Cities For Small Business.
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