Sunday, July 14, 2013

Can Henrico Hitch Its Economic Wagon to Washington?

Speaking of economic development (see previous post), give Henrico County credit for thinking differently.

The Henrico County Economic Development Authority is marketing the county as an alternative, low-cost location for companies in the Washington region. I’m not sure the EDA has formulated a winning sales pitch yet, but as long as it keeps tinkering with the message, it might have a winner.

The county has started contacting people at about 500 companies in the Washington region. “We’re thinking they may be considering moving either all or part of their business to a less costly environment,” Gary McLaren, executive director of the EDA, told the Times-Dispatch. Companies relocating from the Washington area can save 20% to 40% on labor, office leases, utilities and taxes, according to a Henrico EDA brochure quoted by the newspaper. More here.

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