News and Events

February 2004

In This Issue:
Latest News from the Greater Washington Initiative	Regional Business Update		Economic Development News  from Across the Region
GWI in the News		Upcoming Business Events

2003 Promotional Campaign Takes Greater Washington Message to Wide Audience. Last year, thanks to the generous Investor support, GWI promoted the region’s assets through print, radio and television advertising valued at more than $1 million. The 2003 campaign included advertising on: Comcast MarketLink, Discovery Communications, US Airways Radio, The Washington Post, The Washington Times and Metropolitan Washington Airports Authority’s TV screens at Reagan and Dulles airports. For a complete list of GWI Investors, click here.

Region Gains Nearly 35,000 Jobs in 2003; Other Major Metro Areas Encounter Job Loss. According to GWI analysis of federal data, Greater Washington gained an estimated 34,700 new jobs in 2003. This significant rise in employment represents a three-fold increase over 2002 and ranks the region first in job growth among the nation’s large metro areas. Other major cities, including New York, Chicago and Houston, all experienced job loss last year. GWI’s analysis is based on preliminary figures from the U.S. Bureau of Labor Statistics; final figures will be included in GWI’s Regional Report 2004, to be released in late May. More info

Summit Showcases Homeland Security Business Opportunities and GWI Directory. The Greater Washington Initiative will participate again this year in Equity International’s 2004 Homeland and Global Security Summit, scheduled March 31-April 1at the Washington Convention Center. The conference provides the latest info on homeland security funding, technology needs, defense programs and emergency management. During the event, GWI will release its updated Network Security Directory, a valuable tool for firms and government officials to identify potential partners or suppliers among network security companies in the region.  Register
 

Washington, DC Nabs Top Spot for Foreign Real Estate Investment Dollars. In a survey of its members released this month, the Association of Foreign Investors in Real Estate (AFIRE) ranks Washington, DC as the world’s top city for foreign investors. Investors believe the U.S. is the most secure country for real estate investment, and the most sought-after assets are retail properties. DC ranked number one for the second consecutive year.  Read More

Forecast Predicts Healthy Real Estate Market for Metro Area. Overall, the Washington area's real estate market is expected to remain strong in 2004, according to Grubb & Ellis’ 2004 Real Estate Forecast. The forecast notes that defense contracting is one of Northern Virginia’s leading market drivers; effective rates will hold steady for Suburban Maryland; and continued job growth will keep the retail and multi-housing markets strong in DC. Read Study
 

Anne Arundel County, MD: Sidus Group, LLC, which provides web hosting solutions, has expanded AlwaysOnline.net, its data center operations in the county. AlwaysOnline.net is now signing up clients for a sophisticated commercial data center, to open next in March at the Chesapeake Innovation Center (CIC). The CIC is the nation’s first high-tech business incubator focused on the homeland security sector. www.aaedc.org

Arlington County, VA: Arlington topped local and national real estate markets, according to a presentation given at Arlington Economic Development's “Colloquium on the Arlington Economy.” The annual program, held Feb. 20, presented data and analysis of 2003, and outlined future development projects for the county. To view the presentation, visit www.arlingtonvirginiausa.com.

City of Alexandria, VA: The Alexandria Economic Development Partnership, a co-sponsor of the Alexandria Technology Achievement Award, announced this year’s award finalists: Defense Group, Inc., Redmon Group, Inc., and The Templar Corporation. Watch for the announcement of the competition’s winner during Alexandria Technology Achievement Week, March 15-19. www.alexecon.org

District of Columbia: Donatelli & Klein will redevelop land near the Georgia Ave. - Petworth Metro Station. The firm plans to build 148 condominiums above 17,000 square feet of first-floor retail space.  The land, located at Georgia and New Hampshire Avenues, NW, will also include a coffee-house and possibly a restaurant. The development of the site is part of the city’s larger Georgia Avenue Revitalization Initiative.  Georgia Avenue Revitalization

Fairfax County, VA: A British biotechnology company that makes products to monitor the human immune system won the U.K.-to-U.S. side of the Touchdown transatlantic business plan competition and will take office space in the Fairfax County BioAccelerator. At the same time, a Fairfax County-based information security infrastructure services firm won the U.S.-to-U.K. side of the competition and will take space in an incubator near London. The Fairfax County Economic Development Authority and UK Trade & Investment organized the competition. www.fceda.org

Howard County, MD: BB&T and The Columbia Bank have collectively set aside $30 million in reduced-interest loans in support of Howard County’s Route 1 Revitalization Initiative.  This commitment more than doubles the pool of funds committed for the revitalization of the corridor, bringing the total to $55 million.  Citizens National Bank and M&T Bank continue to be involved. To date, 11 projects have been funded, totaling $15 million.  The projects include new construction, site improvements, land assembly and expansion to existing businesses.  Nicole Robinson

St. Mary’s County, MD: Pre-construction leasing has begun for a new 60,000 square foot office building in St. Mary's County near the Patuxent River Naval Complex. Each of the building's four levels will contain 15,000 s.f. and the developer will design the interior buildout per tenants' specs. For more information, call Karen Everett, Manager, Business Development at 301-475-4200, x1407.
 

Improved economy seen in better business prospecting
Maryland Daily Record, Jan. 29, 2004

GWI Survey Says Area Business Execs Bullish on 2004
HireStrategy.com, Feb. 5, 2004
 

Upcoming Business Events

Listed below are links to learn more about a variety of upcoming professional programs:

March 2-5 - SATELLITE 2004
Washington Convention Center

April 21-22 - U.S. Information Communication Technology 2004 Mission
Ontario, Canada

April 26-29 - CardTech/SecurTech Conference and Exhibition
Washington Convention Center

May 11-13 - Technet International 2004
Washington Convention Center