News & Events

Economic Barometer Newsletter


Summer 2007

Survey Says …
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2007 Regional Report Released to Sell-Out Crowd
The Greater Washington Initiative released the 2007 Regional Report, an annual summary of economic and demographic trends, at its Annual Meeting last month before a sell-out crowd of nearly 400 executives at the $2 billion National Harbor project, currently under development in Prince George’s County. Key takeaways from this year’s Report include:

Forecast to 2012 -- In a partnership with forecasting firm Global Insight, this year’s report includes a window on Greater Washington in 2012:

  • Gross Regional Product will reach nearly $500 billion (up from $359 billion in 2006).
  • 50% of the region’s population will be minority (up from 45%).
  • The region will add 319,000 new jobs by 2012.
  • More than 1 million households (42%) will have yearly incomes over $100,000.
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    Still #1 in Key Categories -- Among the nation’s largest metro areas, Greater Washington continues to lead in several categories, including:

  • Median Household Income ($74,600)
  • Educational Attainment: Percentage of adults with BAs (45.9%, including 44% of immigrants)
  • Gross Regional Product Per Capita ($5.9 million)
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    Nation’s Fastest Growing Companies -- For the 10th consecutive year, Greater Washington leads the nation with the most firms on the Inc. 500 list of fastest growing companies.

    Major New Developments Across the Region -- This year’s Report also spotlights key development projects totaling $15 billion -- including a major new rail line that extends the region’s popular public transit system to Washington Dulles Airport and eastern Loudoun County; a new baseball stadium in DC; and a long-awaited “Intercounty Connector” highway in suburban Maryland. These projects, detailed in the Report, promise to transform the region over the next few years. The 2007 Regional Report may be downloaded at www.greaterwashington.org; email Kathy McCorkle to request a print copy.
     
    Region is a Hot Spot for Women Execs
    Also published in the 2007 Regional Report is an analysis by the Greater Washington Initiative of U.S. Census data which shows the region has the nation’s highest concentration of women in C-level jobs, with 274 women executives for every 100,000 residents. San Francisco-San Jose is second with 246 women execs per 100,000; New York has 189, Chicago has 174, and Los Angeles has 162. These findings have prompted news stories distributed nationally by Bloomberg TV and the Associated Press.

    Greater Washington: Global Aerospace & Defense Center
    At the Paris Air Show last month, GWI released its Aerospace & Defense Industry Overview to executives and media from around the world. Featured in Aviation Week, key findings of this analysis include:

  • More than 800 companies conduct aerospace and defense work in Greater Washington, and 33 area R&D facilities conduct aerospace-related research.
  • Greater Washington has nearly 138,000 workers in aerospace-related occupations, and ranks 1st per capita among major U.S. metros.
  • The region is home to approximately 3,700 aerospace engineers, a human capital total that is second only to Los Angeles.

    • In addition, GWI hosted two business development events during the Air Show at which C-level execs from top Washington-area aerospace/defense contractors discussed best practices for transatlantic business and highlighted opportunities for procurement and partnership on both sides of the Atlantic. For details, contact International Business Development Director April DuBois.  

    Many thanks to all GWI Investors for their ongoing support of our work.
     
    Watch for the Fall issue of the Economic Barometer, which will feature highlights from the Greater Washington Green Index, a comparative analysis of environmental measures developed by GWI
    for the Greater Washington Board of Trade’s 2007 Potomac Conference.

    Greater Washington Initiative (GWI) is the regional economic development marketing organization that promotes the area encompassing the District of Columbia, Northern Virginia, and Suburban Maryland as a premier business location. GWI is an affiliate of the Greater Washington Board of Trade. For more info, visit www.greaterwashington.org.

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    Greater Washington Initiative
    (202) 857-5999