by Doug Schmitt
BusinessSchools.com Staff Writer
September 27, 2006
Located in the Piedmont region of Virginia, Richmond has an expanding population that currently totals around 198,000. In its history, the city was a hub for commerce due to its location on the James River. Present-day Richmond has a much more diverse economy that thrives in areas such as advertising, business, finance, law. Recent economic developments include a series of initiatives contributing to the revival of downtown Richmond including the newly finished Greater Richmond Convention Center. Other exciting developments include the proposed Virginia Performing Arts Center and new baseball stadium for the Richmond Braves.
Employment and Internships
Principally due to low business costs and its educated workforce, Richmond ranked as the 14th best city for business and careers according to Forbes. Richmond is home to eight Fortune 500 companies in addition to an array of other large businesses. Some of the larger employers in Richmond are Dominion Resources, Circuit City, Genworth Financial, Wachovia Securities, SunTrust Banks Inc., Capital One Financial Corp., and Philip Morris USA. Students will find internship opportunities as well as employment with these and countless other Richmond area businesses.
Business-oriented jobs in Richmond should see no shortage through 2012, according to the Virginia Employment Commission.
Operations managers will experience 17.7% additional job opportunities; financial managers will see 22.5% more opportunities; and human resources managers' will experience a growth of 17.1% more job opportunities. Overall, business and occupations will see 29.1% more jobs.
Education
Similar to its employment outlook, business students in Richmond will not find themselves at a loss for educational opportunities. The University of Richmond - Robins School of Business offers undergraduate and graduate degree programs to students in a variety of specialties including Accounting, Business Administration, Human Resource Management, Management Science, and Marketing.
Another choice students have is the Virginia Commonwealth University School of Business. Students are offered undergraduate and graduate business studies in Business Management, Economics, Finance, Information Systems, International Business, Management Science, Merchandising/Retail, Real Estate, and Taxation.
Additionally, the School of Business at Virginia State University (VSU) is located 20 minutes south in Ettrick, VA. Aiming to give students a quality undergraduate education in business while placing emphasis on information technology through a variety of majors, the University exposes students to business professionals through distinct programs such as their Black Executive Exchange Program (BEEP).
Financial Aid
Business students in Richmond will find many types of financial aid to be readily available. Aid can come in the form of scholarships, grants, and loans. All of these can come from private, institutional, or government sources. Students should always complete a Free Application for Federal Student Aid (FAFSA) to determine their eligibility for these awards.
Scholarships are the most traditional option for financial aid. Many schools provide scholarships, such as the Presidential Scholarship offered at VSU. The award is available to freshmen who completed college-prep studies and had a GPA of 3.2 or above. Recipients receive around $5000 and may renew the scholarship yearly as long as they maintain a 3.0 GPA.
Additionally, private scholarships such as the Gates Millennium Scholarship (GMS) are available. Made possible through a $1 billion grant from the Bill & Melinda Gates Foundation to be administered by the United Negro College Fund (UNCF), thousands of gifted students whom are financially needy can receive an award to assist with the costs of pursuing an education.
Summary
A lively and growing city, Richmond offers students a great deal of educational opportunities as well as recreations to take advantage of. In addition, its prospering economy and numerous job opportunities make it an ideal place for students to pursue business studies.
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