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The real estate sector comprises establishments primarily engaged in managing real estate for others, selling, renting and/or buying real estate for others, and appraising real estate.
The finance and insurance sector comprises establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions. In addition, monetary authorities charged with monetary control are included in this sector.
Three principal types of activities are identified:
Supply Chain Analysis
Table 2.6, right, provides a picture about the total demand in Richmond by all Richmond residents and businesses for products made by companies in the real estate, finance, and insurance industry cluster—worth nearly $628 million in the region. In Table 2.6, we see that the companies in these sectors meet only 21% of Richmond demand for their services, while Richmond imports the other 79% of its needs for these services. This would seem to indicate potential markets for local suppliers.
Other industry sectors that could tap into the Richmond market include the following:
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