Richmond's economy is highly diversified, driven by government, finance, healthcare, law, and a thriving creative sector.
* **Major Sectors**: The city is a financial center (home to the Fifth District Federal Reserve Bank) and a legal and lobbying hub due to its status as the state capital. * **Business Districts**: Downtown Richmond serves as the primary financial and government center. Scott's Addition has rapidly transformed into a hub for startups, marketing firms, and craft breweries, while Carytown is the premier district for independent boutiques and local retail. * **Creative Industry**: The city is a recognized center for advertising and creative agencies, anchored globally by The Martin Agency. * **Shopping**: Notable retail hubs include Carytown, the open-air Stony Point Fashion Park, and nearby Short Pump Town Center in Henrico County.