Henrico EDA establishes Global Business Gateway initiative to attract international firms

Henrico Economic Development Authority officials Tuesday formally announced a new initiative designed to help attract more international businesses to the county by making it easier for them to establish operations in Henrico quickly.

Through the Henrico Global Business Gateway program and a partnership with Highwoods Properties and Gather, the EDA will lease eight to 10 office spaces of varying sizes in the new Gather West End coworking space at 4101 Cox Road in Innsbrook, then rent those spaces on a short-term basis and at a discount to international companies that want to locate in Henrico.

The leases could last as long as 18 months, Henrico EDA Executive Director Anthony Romanello told the Henrico Board of Supervisors during a retreat Sept. 4, and EDA officials will work to assist the businesses as they seek permanent space in Innsbrook or elsewhere after that.

Business that don’t have established operations in the US “can come in, lease space from us at a discounted rate . . . we’ll assist them with all kinds of wraparound services for their employees, for their families. . . anything having to do with opening a business here in the United States,” Romanello told the board.

Seventy-five international companies currently have a presence in Henrico, he said.

“We think this is a real opportunity to grow [that number].”

The program’s intent is to assist businesses that want to locate a small number of employees in the county initially as they seek to expand elsewhere in Henrico, officials said. Each company could locate as many as three employees in the temporary space.

The offices the EDA will rent at Gather West End will be located behind a set of locked and branded doors, according to EDA officials, and are expected to be available beginning in January.

“The launch of the Henrico Global Business Gateway underscores our community’s commitment to inclusivity,” said Three Chopt Magisterial District Supervisor Misty Whitehead. “We welcome companies from every corner of the globe to experience the way we do business; we want them to know Henrico is the place where they can flourish.”

The program already has lined up its first participant: Africa-based fintech firm Rego, Incorporated.

“We are profoundly humbled to be the pioneering participant of the Henrico Global Business Gateway,” said Yogo Dubois, founder and CEO of Rego, Inc.. “Henrico’s strategic location, conducive business environment, proactive governance, and extensive support from the Henrico Economic Development Authority have been instrumental in the process of our establishment in the beautiful county of Henrico. We selected Henrico as it cultivates the ideal ecosystem for fostering innovation and success.”