Economy
The applicable Metropolitan Statistical Area for the Richmond-Petersburg region is the Richmond, VA MSA, which as of 2006 is identical to the region defined in this article. The Richmond MSA provides employment for a total of approximately 472,000 workers. In order of the number of workers, the major employment categories of the region are services; retail trade; manufacturing; state government; finance, insurance and real estate; local government; construction; wholesale trade; transportation and public utilities and federal government. Within the manufacturing category of some 63,700 employees, the largest category of workers is in the tobacco industry. Other important manufacturing categories are chemicals, printing and publishing, paper, and wood manufactures.
This economic diversity, which is typical of the entire Richmond-Petersburg region, helps to insulate it from hardship due to economic fluctuation in particular sectors of the economy. The region's central location also allows it to benefit from growth in other regions of Virginia and the state as a whole.
Read more about this topic: Greater Richmond Region
Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)