Richmond Economic Development Strategy Update

The City of Richmond is set to update its Economic Development Strategy, aiming to attract and retain businesses while fostering a thriving, diversified economic and employment base. The proposed approach involves engaging the business community and broader stakeholders to develop a new vision and key goals.

• The city adopted its first Economic Development Strategy in 2002, implementing actions such as business retention and expansion, economic indicators, and the Economic Advisory Committee.
• In 2014, the city endorsed the Resilient Economy Strategy, focusing on light industrial capacity, sustainable growth, and economic diversification.
• The new Economic Development Strategy will be developed through research, analysis, business/public engagement, and the creation of guiding principles.
• The draft strategy will be presented to the City Council for endorsement.

• Proactive stakeholder and civic engagement
• Strategic and sustainable community growth
• Leadership in environmental sustainability
• Vibrant, resilient and active communities