Wednesday, August 3, 2016
The city of Richmond and the Greater Richmond Partnership (GRP) are pleased to announce that ICMA-RC, one of the top financial service corporations, has chosen to expand into Richmond. The non-profit individual financial services corporation, headquartered in Washington D.C., provides retirement plans and related services to more than a million participants in the U.S. The company plans to hire roughly 100 new employees and bring more than 100 employees from their Washington, D.C., headquarters to Riverfront Plaza, in the city of Richmond’s Central Business District.
“We are so pleased to have worked closely with GRP on this great project for the city and are thrilled that ICMA-RC has chosen the city's vibrant and growing downtown as its new location,” said Mayor Jones. “They will be a valuable addition to the vibrant and growing downtown business community.”
ICMA-RC conducted an extensive search for their second location, narrowing the list of prospective cities to seven, including Dallas and Atlanta. Bob Schultze, President and CEO of ICMA-RC explains, “After reviewing the results of our extensive search, it became clear that the city of Richmond met our needs of a low cost, high quality business environment, as well as a location close enough for our home office to continue a productive work flow. The synergy between our Washington, D.C., HQ and Richmond made the most sense for our operational needs.”
Barry Matherly, President and CEO of the Greater Richmond Partnership, added, “With plans to add anywhere from 200-250 net new employees to the City of Richmond and the Commonwealth of Virginia, and make more than $10 million in capital investment, ICMA-RC’s entry to the market is another excellent return on the economic development investment of the region.”
Founded in 1972 through the assistance of a Ford Foundation grant, ICMA-RC’s mission is to help public sector employees build retirement security. Today, ICMA-RC serves more than a million participant accounts and about 9,000 plans across the country.
Posted by Office of the Press Secretary to the Mayor at 11:58 AM