Aside from providing jobs and tax revenue, the following five companies make community involvement — including employee investment and volunteering — a major priority. Here is a snapshot of the Richmond area's top five Fortune 500 companies.
ALTRIA GROUP INC. (No. 159)
CEO: Martin J. Barrington
It's hard to believe that it's been a decade since Altria, the parent company of cigarette maker Philip Morris USA, relocated its corporate headquarters to Richmond from New York City. Altria provides jobs to nearly 4,000 local residents. It posted revenue of $24.6 billion in 2012, up 3.4 percent year over year, fueled largely by surging consumer demand for "smokeable" products. Since its corporate relocation, the company has invested more than $1.1 billion in a variety of nonprofits and civic groups. Aside from the corporate donations, committees steered by Altria employees awarded nearly $2.4 million to dozens of nonprofits in central Virginia. "It's all part of our strategy to make sure the counties where our employees work and play are improved by our corporate presence," says Altria spokesman Jeff Caldwell.
DOMINION Resources (No. 210)
CEO: Thomas Farrell III
Dominion Resources Inc., the parent of electricity company Dominion Virginia Power, is a mainstay of the Richmond-area economy. It is also one of the state's largest corporate taxpayers, with 9,200 employees and an annual payroll topping $1 billion. More specifically, Dominion employs more than 4,200 people in greater Richmond. Dominion Foundation, the company's philanthropic arm, annually awards more than $20 million to environmental causes and education, and to help meet basic human need and contribute to community vitality. Included among its projects in Richmond are Project Plant It, an environmental education program, and Dominion EnergyShare, which provides fuel assistance for people in need. In addition, its community sponsorship includes Dominion Riverrock, the Dominion Christmas Parade and the GardenFest of Lights at Lewis Ginter Botanical Garden. In recent years, Dominion has donated to renovation projects that include the restoration of Altria Theater (nee Landmark Theater) and the relocation of the Black History Museum.
CARMAX INC. (No. 259)
CEO: Thomas Folliard
In the years since its formal launch in 1993, CarMax Inc. has grown from a Circuit City Stores Inc. spinoff to the largest used-car retailer on the planet. Its total sales for fiscal year 2012 topped $10 billion, and the company has been recognized by Forbes magazine for nine consecutive years as one of the 100 best companies to work for in the United States. In 2003, CarMax created a foundation to manage charitable contributions and service projects. Since then, the foundation has granted more than $18 million to U.S. nonprofits through various programs, including the Volunteer Team-Builder Program, Matching Gifts Program and several grant programs. CarMax employees lead the Foundation programming through their recommendations, volunteerism and personal contributions. "Our people make it a success. We tie our giving priorities to their passions and interests," says Lynn Mussatt, president of CarMax Foundation and vice president of business operations and customer service. In 2013, the foundation awarded more than $510,000 in grants to Richmond-area charities.
GENWORTH FINANCIAL INC. (No. 271)
CEO: Thomas J. McInerney
Genworth has a long and noteworthy history in the Richmond area. It wrote its first policies in 1871, the year it started in business as The Life Insurance Company of Virginia. The company was acquired by GE Capital in 1995 and later spun off into Genworth Financial Services, which went public in 2004.
Genworth posted $10 billion in revenue in 2012 on net income of $323 million. Its 1,250 Richmond-area employees volunteered more than 4,000 hours to various community-enrichment programs, including more than 800 hours to the FeedMore initiative of the Central Virginia Food Bank. The Genworth Foundation provided $3.3 million to programs that promote education and ensure vulnerable residents have access to food and shelter.
"We believe in the power of partnership, and in Richmond we have worked collaboratively to promote a diverse, inclusive and economically vibrant region for all our citizens," says Leon Roday, Genworth's senior vice president and general counsel.
OWENS AND MINOR INC. (No. 297)
Chairman and CEO: Craig R. Smith
Launched in the 1880s as a drug wholesaler, Mechanicsville-based Owens & Minor provides distribution and logistics services to the U.S. health care industry and the pharmaceutical, life-science and medical-device industries in Europe. The company employs more than 6,500 people globally, including 600 in greater Richmond. Among its 4,000-plus U.S. customers are hospitals, group-purchasing organizations, healthcare networks, the federal government and other suppliers. In Europe, Owens & Minor supports more than 600 customers, including manufacturers of medical devices and pharmaceuticals. All told, Owens & Minor distributes the products of more than 1,200 suppliers. Owens & Minor posted $8.9 billion in revenue on net income of $109 million in 2012. Locally, the company's community involvement includes support for a variety of charities that focus on health and well-being, including Special Olympics Virginia and the FeedMore initiative.
