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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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 July 11, 2011

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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 July 11, 2011

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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 July 11, 2011

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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 July 11, 2011

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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 July 11, 2011

› 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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 July 11, 2011

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