Richmond County, Virginia

• Income gap: Households earn meaningfully less than the national median, which directly affects retail demand, housing absorption, and tax base.
• Talent gap: Bachelor's-or-higher attainment trails the national average by 18.8 pts, relevant for advanced-services attraction strategy.
• Aging population: Median age of 44 is materially above the U.S. norm; succession planning and senior-services demand are real factors.

• Largest sector: Retail Trade employs 262 workers (25.9% of tracked sectors), at an average wage of $26,173.
• Economic scale: Regional GDP of $396M (2024).
• Wage stratification: Construction averages $89,302 while Accommodation and Food Services averages $20,241, a 4.4x spread in the same local economy, with implications for workforce development and talent strategy.

• Top specialization: Wood Product Manufacturing concentrates at 14.16x the national norm, top-decile concentration, the kind of signature sector that defines a region's economic identity to site selectors.
• Cluster depth: 5 sub-sectors register LQ ≥ 1.5, suggesting an interconnected industrial base rather than reliance on a single employer or sector.

• In line with national: Home value to income ratio of 3.5x sits near the ~4.1x national average; affordability is neither a clear advantage nor a recruitment friction.
• High home ownership: 74.7% owner-occupied; rental supply may be tight for incoming workers.
• Elevated vacancy: 20% vacancy rate. In resort, rural, and seasonal markets much of this is recreational/seasonal (second homes), not available supply; confirm the vacancy-by-reason split before treating it as a redevelopment opportunity.
• Affordable rent tiers: 4 of 5 HUD Fair Market Rent bedroom tiers sit below the 30%-of-median-income affordability threshold (~$1,658/mo).

• Succession risk is real: 22.1% of working-age residents are 55-64. Plan for retirements over the next decade and pair attraction strategy with talent retention.
• Low participation: 46.9% labor force participation suggests untapped capacity; workforce development programs may unlock supply.
• Talent pipeline: 6 regional institutions feed the workforce; the top three combined produce 45,868 annual credentials.

Richmond County shows strong potential for wood product manufacturing attraction, with a 14.16x concentration and 109 jobs in this sub-sector. It ranks in the top decile nationally. Near-term succession risk is elevated, with 22.1% of the working-age population within 10 years of retirement age.

The interconnected base across wood product manufacturing, heavy and civil engineering construction, and merchant wholesalers, nondurable goods creates supply-chain attraction leverage rather than single-employer risk, a structural advantage for industrial recruitment.