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Area Development - Site Selection, Facility Planning and Workforce Development

Richmond National Group Plans Henrico County, Virginia, Headquarters

10/26/2021
Richmond National Group, Inc., a start-up specialty property and casualty insurance holding company, will invest at least $175,000 to establish its headquarters in Henrico County, Virginia. The project is expected to create 70 new jobs over the next three years.

“We chose to start our specialty insurance company in the Richmond, Virginia area primarily due to its deep talent pool of insurance and financial services professionals and its favorable business environment,” said Richmond National Group President and CEO Joseph C. Kavanagh.

The Virginia Economic Development Partnership (VEDP) worked with the Henrico Economic Development Authority and the Greater Richmond Partnership to secure the project for Virginia. Richmond National Group’s job creation will be supported through the Virginia Jobs Investment Program. This program provides consultative services and funding that will support employee recruitment, develop training activities, and help absorb the human resource costs for new and expanding companies.

“This project is a great success story of local industry experts committed to small business success in the region and the Commonwealth who identified a need and started an innovative company to address it,” said Secretary of Commerce and Trade Brian Ball. “We are excited to partner with Richmond National Group and thank the company for its investment in the region.”

Richmond National Group, Inc. is the holding company for Richmond National Insurance Company, a specialty excess and surplus lines insurance company serving select wholesale brokers across the country.

“Greater Richmond, including Henrico County, is a top location for specialty insurance companies,” said Greater Richmond Partnership (GRP) President and CEO Jennifer Wakefield. “With more than 50,000 experienced workers in the Finance, Insurance and Real Estate sector and a nationally recognized program at Virginia Commonwealth University, it’s no wonder why companies continue to invest here. We are proud to welcome Richmond National Group to this list.”

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