Finance & Insurance
Business Thrives on Opportunity and Stability in the Home of the Extra Mile
Henrico has established itself as a hub for companies operating in the financial services and insurance sector. With low operating costs, a highly educated workforce, and a proven record of fiscal strength highlighted by a AAA bond rating from four leading agencies, Henrico provides the ideal environment for growth. Businesses benefit from unmatched support, strategic resources, and a community committed to their success.
Finance and Insurance in Henrico
At A Glance: Finance & Insurance in Henrico
#1 State
For education as ranked by CNBC in 2025
Prime Location
Home to major business travel hubs Richmond International Airport and Amtrak’s busiest station in the southeast.
Fiscally Sound
AAA Bond Rating from 4 major rating agencies
Skilled Talent
45.7% of residents over 25 hold a bachelor’s degree or higher
$1 Million
of gross receipts exempt from local Business, Professional and Occupational License tax
83¢
Per $100 assessed value Real Estate Tax rate (Not increased since 1978)
Talent Solutions
Top-Tier Talent Powering the Future of Finance and Insurance
Henrico’s highly educated workforce, supported by top-ranked schools, premier colleges, and strategic workforce partners, gives companies access to the skilled talent that drives success. Combined with the Greater Richmond region’s deep labor pool, businesses here can attract, develop, and retain professionals who deliver expertise, efficiency, and results.
Operating Costs
Keeping Corporate Costs Low
Henrico is committed to keeping business costs low and growth opportunities high. With the lowest tax burden among Virginia’s ten largest localities—anchored by an 83¢ per $100 assessed value real estate tax rate that hasn’t increased since 1978 and no local BPOL tax collected on the first $1 million of gross receipts—businesses benefit from long-term stability that allows them to invest, expand, and thrive.
Incentives and Financing
Support That Grows With You
Henrico and the Commonwealth of Virginia offer a range of incentives and financing options to help businesses grow, innovate, and thrive. From location-based incentives and tax credits to low-interest financing and performance-based grants, qualifying businesses can access valuable resources that support investment and job creation.
“Here, you have a vast talent pool of insurance and other business people. Members of our IT team have come from a wide range of other businesses in the area that are outside of the insurance industry. There are a number of good colleges and universities in Virginia – very close by – and we’ve been able to attract people right out of college … young talent who love where they work.”
Joe Kavanagh
President & CEO
For more information on this topic, contact:
Wendy Miller
Managing Director