Urban One, a leading urban media company and the largest distributor of urban media content in the country is asking the city to develop a world-class uniquely-Richmond entertainment, dining, and gaming destination.
About Urban One
The Premiere Urban Media Company In The Nation
Urban One, Inc. is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. Urban One owns TV One, LLC serving more than 50M households; owns CLEO TV serving more than 35M households; owns and/or operates more than 60 broadcast stations branded under the tradename “Radio One”; has a controlling interest in Reach Media, Inc. operating syndicated programming including the Rickey Smiley Morning Show, the Russ Parr Morning Show and the DL Hughley Show; and owns iOne Digital, a wholly-owned digital platform serving the Black community through social content, news, information, and entertainment websites.
In the gaming space, Urban One has invested in a minority ownership interest in MGM National Harbor, a gaming resort located in Prince George’s County, Maryland.
With strong roots in Richmond as owners and operators of KISS-FM, ESPN Richmond, Praise Richmond and iPower, Urban One will bring together local businesses and restaurants to feature uniquely Richmond experiences throughout the ONE complex.
As a majority Black-owned business, ONE will produce tiers of investment opportunities with a focus on the creation of generational wealth building for minority communities. The project has a 50% workforce diversity goal for construction, a 50% workforce diversity goal for property operations, a 40% Minority Business Enterprise (MBE) supplier diversity goal for construction, and a 40% MBE supplier diversity goal for property operations.
The project is estimated to generate more than $400 million in tax revenue for the City over 10 years, which is critically important for Richmond’s teachers, schools, roads, parks, first responders and community programs. No tax dollars will be used to develop this project. Once operational, ONE will create 1,750 direct jobs with an average annual income of $55,000 including tip income. A premier entertainment destination, ONE is anticipated to attract more than 3.6 million annual casino visitors with an estimated 68 percent coming from outside the region.