Congratulations to Markel Corporation! The Henrico-based company with insurance, reinsurance and investment operations around the world made the Fortune 500 list for the first time this year, entering at 476 after falling just shy of the list last year. The company, which employs 10,600 and charted $5.37 billion in 2015 revenue, is headquartered on Highwoods Parkway in the Innsbrook Corporate Center.
Mike Heaton, president of Markel Ventures, a wholly owned subsidiary of Markel Corporation, talked with us recently and said, “Markel Ventures, along with the rest of Markel, is proud to call Henrico County home. Access to a talented workforce drawn by good jobs, a reasonable cost of living and a high quality of life has helped accelerate our growth.” (Learn more about Markel.)
Overall, the Richmond area claimed eight Fortune 500 spots this year. Of those, three spots were taken by Henrico-based companies: Altria Group, Genworth Financial and Markel Corp. Markel made the Fortune 500 list this year after missing it by just four spots in 2015. Altria moved up the list by 20 spots, from 169 to 149, and Genworth fell two spots, to 306. A total of eight Fortune 500 companies hail from the Richmond metropolitan area, with list newcomer Performance Food Group (based in Goochland), WestRock, Dominion Resources, CarMax and Owens & Minor rounding out the list.
Fortune 500 companies represent two-thirds of the U.S. GDP – with $12 trillion in revenues, $840 billion in profits and $17 trillion in market value – and employ 27.9 million people worldwide. Together, the RVA Fortune 500 companies generated over $96 billion in revenues and collectively employ almost 110,000 people.
Henrico County: Come for Success
A wide variety of businesses, large and small, choose to locate their headquarters in Henrico – from healthcare and financial services to manufacturing and technology. What’s the attraction? It’s a smart move – and a safe bet.
From our low tax rates to our AAA bond rating, Henrico County’s exceptional financial status offers stability and reassurance now and for the future. As one of the best-run localities in the nation, Henrico is a great place to do business. It’s a place to come for success – and stay for life. Learn more here.