Doing business in the USA: Inside the beltway – supporting your start in DC
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Transcript of Doing business in the USA: Inside the beltway – supporting your start in DC
8/6/2019 Doing business in the USA: Inside the beltway – supporting your start in DC
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greater washingtonRegional Overview and
Focus on the ITC/digital Space
UK Digital Mission
Masterclass
July 11, 2011
Matt S. Erskine
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July 11, 2011
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greater washington region- an overview
› Greater Washington includes Washington,
DC, Northern Virginia, and Suburban
Maryland, encompassing twenty-six
jurisdictions and a population of 6.2
million people
› Unique metropolitan region in the US with
two states and federal district
› Three world-class airports
› The Greater Washington Initiative’s
definition of the region differs slightly from
the traditional government definition of themetropolitan statistical area (MSA),
making it more expansive and
representative of the true economic
interdependence and dynamism of the
region
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story of greater washington –now and moving forward
› Greater Washington has an unrivaled portfolio of assets that has fueledthe region’s impressive economic performance over the past two decadesand will continue to do so in the years ahead.
› Increasingly, the world is recognizing Greater Washington’s leadingposition in such areas as:
• Economic growth, stability, and resilience
• Educational attainment
• Talent attraction
• Economic and workforce diversity• Global connectivity.
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story of greater washington –now and moving forward
“The nation's capital is emergingfrom the recession better than anyother major metropolitan area inthe country.”
Forbes
“Washington, DC is increasingly
drawing in the ‘young andwealthy’.”Nielsen Claritas
“The region is chock-full of job prospects, entertainmentvenues and greatneighborhoods, and it isbooming.”Kiplinger’s
“Washington DC is the onlymetropolitan area east of theMississippi River characterized byhigh levels of growth, diversity,and educational attainment.”Brookings InstituteNo. 1 – US Metros for
Real EstateInvestment
Association of ForeignInvestors in RealEstate
No. 2 – Top Metros forQuality of Life and 10Best Places for YoungAdultsPortfolio.com
No. 2 Major Metro – Best Metros forthe Next DecadeKiplinger’s
No. 1 – Metros Where TheRecession Is EasingForbes
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economic strength and stability
› Greater Washington is firmlyestablished as the fifth-largest regional economy inthe US, with a 2009 Gross
Regional Product of $443billion.
› Greater Washington hasoutperformed virtually every
other major metropolitanarea in recent years, with anaverage annual growth rateof 5.3% since 1990.
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economic strength and stability
› Greater Washington boasts thesecond-highest gross regionalproduct per capita in the US.
› At 5.9%, Greater Washington’sunemployment rate remains farbelow that of all other majormetropolitan areas.
› Greater Washington had the
largest over-the-year percentageincrease in employment amonglarge metro regions.
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› Business and ProfessionalServices is the largest singleemployment sector,employing 22.8% of all
workers in the region.
› Education and HealthServices employment hasgrown by more than 26%since 2001 and is projected
to post significant increasesin the years ahead.
economic diversity
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economic diversity
› Since 2000, GreaterWashington’s Businessand Professional Services
sector has increased bynearly 118,000 workers.
› During this same period,no region has added even
half the number of jobsgained by GreaterWashington in this sector.
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workforce diversity
› Greater Washington isnumber one among majormetropolitan regions forfemale executives, as well asfor median earnings of the
female workforce.
› Greater Washington attractsthe world’s best minds—nearly 42% of the region’sforeign-born workforce
possesses a bachelor’sdegree or higher.
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knowledge production & attraction› Greater Washington has
the most the most highly-educated workforce of anymajor metropolitan regionin the US.
› There are more collegeeducated people inGreater Washington than
in Austin, Charlotte, San Jose, and Raleighcombined .
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knowledge production & attraction› Each year, Greater
Washington’s world-classcolleges and universitiesproduce more than 70,000
college graduates.
› Six of the country’s tenmost educated counties arelocated within Greater
Washington (including thetop five most educatedcounties in the US).
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knowledge production & attraction› Greater Washington ranks
first in the proportion of itsworkforce in today’s most
promising occupations:• Business & Financial
• Computer andMathematical Science
• Life, Physical, & Social
Science
• Legal Occupations.
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innovation & entrepreneurship› Greater Washington has
led the country in thenumber of Inc. 500 companies for the past 13
consecutive years.
› In 2010, GreaterWashington featured 58Inc. 500 companies—more
than anywhere else in theUS.
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innovation & entrepreneurship› Research and development
activity continues to supportinnovation in the region’s keyindustries.
› In 2008, regional universities andcolleges received $3.6 billion infederal research and developmentexpenditures—dwarfing the levelof investment of every otherregion in the country.
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information & communication technology
› Greater Washington’sInformation andCommunication Technology
workforce is second only toNew York, with more than200,000 workers.
› Greater Washington’s topten university computer
science programs produced20,600 graduates in 2009—a158% increase since 2005.
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information & communication technology
› In 2009, venture capitalfirms invested nearly $200million in regional firms
representing such sectorsas software andtelecommunications.
› Of the 48 Inc. 500 fastestgrowing companies in theUS that are headquarteredin Greater Washington, tenof them are in IT services,software, andtelecommunications.
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international business› Greater Washington is
home to almost 1,000foreign-owned firms
representing more than50 countries throughoutthe world.
› More than 1.2 million
people in GreaterWashington speak atleast one other languagein addition to English.
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Boston
Chicago
Seattle
Houston
Los Angeles
Dallas
Philadelphia
New York
San Francisco /San Jose
Atlanta
Miami
GreaterWashington
greater washington ranks 5th in the US for the
number of foreign-owned firms
0
500
1,000
1,500
2,000
2,500
NYC SF/SJ LA CHI GW ATL HOU BOS
DAL MIA PHILLY SEA18
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0
50
100
150
200
Top 5 Industries
ICT MANUFACTURING PROFESSIONAL SERVICES A / D / S +I ENGINEERING
Top 5 Countries of Origin
ENGLAND FRANCE CANADA JAPAN
GERMANY
0
50
100
150
200
250
0
50
100
150
200
greater washington foreign-owned firmsanalysis: industry and country of originbreakdown
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global connectivity› With combined domestic and international service tomore than 40 global cities, Greater Washington isconnected to 80 percent of the world’s economy.
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north america market
access
› Sixty percent of the US and Canadian economies– nearly 20 percent of the world’s gross domesticproduct – is within a two-hour flight from Greater
Washington
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federal government foundation› In 2009, federal procurement in
Greater Washington totaledapproximately $75 billion.
› Greater Washington continues tooutperform every state in the USin federal procurement.
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quality of place & culture
› Higher incomes and lower cost of living equals a powerful andattractive combination - GreaterWashington’s cost of living rankswell below other US cities such as
New York, Los Angeles, SanFrancisco, and Chicago.
› Health care costs in GreaterWashington are among the lowestof any major metropolitan region
in the US.
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› While regions throughout theworld are quick to proclaimtheir commitment to EnergyEfficiency and Sustainability,
few areas compare to GreaterWashington.
› Greater Washington’sleadership and comprehensiveintegration across a portfolio of
assets — human capital,research and development,thought leadership, privateenterprise, green expenditures,and a culture of sustainability— will drive business success in
this industry unlike anywhereelse.
energy efficiency &
sustainability
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Annual Health Care Costs Per Employee
$0 $2,000 $4,000 $6,000 $8,000 $10,000
2005 2009 (05 – 09 Growth Rate in White)
Greater Washington 17.5%
Atlanta 20.6%
Boston
18.3%Chicago 20.3%
Dallas21.1%Los Angeles 16.7%
New York City 12.5%
Philadelphia21.2%
San Francisco 31.2%
2005 U.S. AVERAGE 2009 U.S. AVERAGE
greater washington’s health care costs are lower than mostcompetitor regions
Source:Hew
ittAssociates
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Thank you.Visit
www.greaterwashington.org
to learn more