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The CoStar Group Inc. founder and CEO said he knows he made the right decision to move his company’s global research operations to Richmond.

One early indicator: 47 people from the corporate headquarters of the Washington, D.C.-based commercial real estate research firm applied Monday to relocate to the new offices in Richmond.

“More are asking to be transferred,” Andrew C. Florance told about 135 people in the commercial real estate industry who attended a CoStar event at The Jefferson Hotel on Tuesday afternoon.

CoStar announced Monday that it will move its global research center to the four upper floors of the nine-story WestRock Co. building in downtown Richmond.

The CoStar employees from the corporate headquarters want to move to Richmond, Florance said, because of the more favorable cost of living and quality of life. He knows the area: He grew up near Charlottesville, and his sister lives here.

The company expects to employ 730 people for the new research center, hiring more than 600 to join about 50 to 70 current CoStar employees who will relocate from Washington or other offices. CoStar hopes to hire 200 to 300 people by the end of the year.