94-01-25 New U.Va. Center for Public Service Report Gives In-Depth Economic Profile for Richmond Regional Planning District

NEW U.VA. CENTER FOR PUBLIC SERVICE REPORT
GIVES IN-DEPTH ECONOMIC PROFILE 
OF RICHMOND REGIONAL PLANNING DISTRICT

     CHARLOTTESVILLE, Va., Jan. 25 -- Employment in the Richmond area,
traditionally
strong, suffered more than the state as a whole during the recent recession. 
But employment in
the region is expected to grow at a slightly faster rate than the state for
the rest of the decade,
according to an economic profile by the University of Virginia's Center for
Public Service.
     The profile of the Richmond Regional Planning District, in the latest
edition of the
center's "Virginia's Local Economies" series of occasional economic reports
on each of the
state's 21 planning districts, shows that the capital region's 3 percent
average annual
employment growth rate from 1980 to 1991 ranked behind only Northern
Virginia, the
Fredericksburg area and the Culpeper-Warrenton area.  
     But employment growth was slowest in the city of Richmond itself,
averaging 0.6 percent
a year during the period and declining nearly 6 percent in 1991 alone,
according to U.Va.
economist John L. Knapp, director of the studies.  The three suburban
counties of Chesterfield,
Henrico and Hanover have enjoyed the highest growth rates in the region since
1980.
     The planning district includes the counties of Charles City, Goochland,
New Kent and
Powhatan, in addition to Richmond, Chesterfield, Henrico and Hanover.   The
district ranks
third in the state behind Northern Virginia and Hampton Roads in population,
employment,
personal income, and taxable sales. 
     The study cites projections from a private forecasting firm that the
planning district will
see a 1.6 percent annual employment growth rate for the rest of the decade,
slightly above the
1.5 percent rate projected for the state.
     Real per capita personal income in the region is projected to rise at an
only an 0.7
percent annual rate, compared to 1.1 percent for the state.
     The "Virginia's Local Economies" series includes updated comparative
data on all
planning districts and local government finances, as well as projections of
population,
employment, income and school enrollment, and additional information about
each locality in a
region.  The series is aimed at community planners, economic developers,
business and
government officials, educators, libraries and residents seeking local
economic information.
     Cost is $12 per report, or $200 for the set of 21 reports.  For
additional information
contact the U.Va. Center for Public Service at (804) 982-5638.
                               ###
                                                 January 24, 1994
     EDITORS, REPORTERS:  John Knapp may be reached at the above number.

[Submitted by: Karen A. Castle  (kac@uva.pcmail.virginia.edu)
               Wed, 26 Jan 94 10:14:52 EST]