News and Events

May 2006

Global Perspective: New GWI Study Details International Firms – The new International Commerce and Culture study, released by GWI in April, includes an analysis of 700 internationally owned companies in the region and a sample of 144 local firms with international operations. A directory of these companies is available for a small fee.  Download a copy of the study>> Request a hard copy of the Executive Summary>> Purchase the lists of international firms>>

Coming Soon: Release of Regional Report 2006 Scheduled June 8 – The annual Regional Report, GWI”s signature publication of economic and demographic trends, this year includes a look at major changes across the region since 1990. The Report will be released at GWI’s Annual Meeting on June 8 at the new Westin Gateway hotel in Arlington, VA. The meeting will feature a panel of CEO's discussing future business trends, moderated by WAMU host Kojo Nnamdi.  More info on Annual Meeting

Venture Capital Investment Climbing – Venture capital investments in the Greater Washington region recently increased by nearly 17 percent, from nearly $154 million in the first quarter of 2005 to an estimated $180 million in first quarter of 2006, according to the PricewaterhouseCoopers/NVCA MoneyTree Report and Thomson Financial.  A few details from the report:

Download report >>

Interactive Ink–  A Columbus, Ohio-based company, Interactive Ink, decided to expand and open an office in DC after attending a GWI educational session held at the FOSE exhibition in March. To serve a growing client list in the greater Washington metro area the interactive marketing agency will move to the city's Chinatown neighborhood this month.

City of Alexandria, VA  – The City of Alexandria is becoming one of the region’s premier restaurant destinations. Recent new restaurant openings such as 100 King, Rustico, and Indigo Landing are being met with critical success, while dozens of new concepts like Overwood, Eamonn's/A Dublin Chipper, and La Tasca are in the works. Alexandria chef Cathal Armstrong of Restaurant Eve was recently nominated by the Restaurant Association of Metropolitan Washington for Chef of the Year, as well as one of 2006’s Best New Chef’s by Food and Wine magazine. 

Anne Arundel County, MD  – Wegmans, a high-end food market, has signed a lease for its first location in Anne Arundel County. Wegmans arrival is part of the changing landscape of Western Anne Arundel County - one of the county's growth areas. This area will continue to transform over the next 10 years as a result of BRAC and the 5,241 high level jobs coming to Fort Meade. The new Wegmans will be located at Waugh Chapel Village South in Crofton, MD. The gourmet store, which will employ some 700 people, is expected to open in 2009.

Arlington, VA – On May 16 the Economic Development Commission will co-host the county's 11th Annual business awards reception, known as the "ABBIES", with the Arlington Chamber of Commerce. The event is open to the public. Register here.  Also, on May 5 the County hosted a real estate showcase bus tour, where the attendees toured the county and received the inside scoop on the latest projects in Arlington.

District of Columbia – Home furnishing retailer West Elm will locate to the historic Woodward and Lothrop (Woodies) Building, located on  G Street, NW. The West Elm store, part of the Williams-Sonoma company, will be the largest in the chain; it will also serve as the East Coast flagship store. The company benefited from the Downtown Retail Tax Increment Financing Program (TIF). The TIF program values retailers that offer distinct qualities to the downtown core. More info

Fairfax County, Virginia – The U.S. Census Bureau reported the number of African American-owned businesses operated in Fairfax County jumped 53 percent between 1997 and 2002, while the number of Hispanic-owned businesses increased 47 percent in the same timeframe. Both increases are larger than the national increases. Fairfax County is home to six of the 100 largest African American-owned companies and 11 of the 500 largest Hispanic-owned companies. More info

Frederick County, MD – Two of Frederick County's top employers recently broke ground on major projects. Wells Fargo Home Mortgage is constructing a $50 million, 310,000 square foot building. Scheduled to open in 2007, the new building will house 1,300 employees. Wells Fargo is Frederick County's third largest private employer. Meanwhile, ground was broken on a $44 million manufacturing plant and office building to house The Frederick News-Post, The Job Shop Printing and Mirame Interactive. 

Maryland Airport Authority – North American Airlines will begin weekly scheduled service from BWI Airport to West Africa. The new international air service will begin June 4 with flights to Banjul, The Gambia and continuing to Accra, Ghana.  This new international air service will foster new economic opportunities and advance the exchange of goods, services, and ideas between the State of Maryland and the countries of West Africa.  Details

Metropolitan Washington Airports Authority – In April, the Commonwealth of Virginia voted to allow the Metropolitan Washington Airports Authority  to operate the Dulles Toll Road and to complete the Dulles Corridor Metrorail project by construction of rail to Dulles Airport and beyond to Loudoun County, VA.  More info.

Montgomery County, MD – The recent opening of the Wheaton Business Innovation Center, the County's  third business incubator, is focused on fostering the growth of small and start-up businesses. The 10,000 square foot incubator features 30 offices and a conference room. Incubator tenants have access to all resources, programming and networking events provided by the County’s Incubator Program. In addition, the facility will house Montgomery County economic development staff, Small Business Development Center counselors and reps from the MD Intellectual Property Legal Resource Center. For more info and an application to the county's Business Incubator System, contact John Korpela at 240-777-2000.

Prince William County, VA – In recognition of Prince William County’s and George Mason University’s approach to university-centered economic development, CoreNet Global honored Prince William County with the coveted CoreNet Global Leadership Award for “Innovative Practices in Economic Development.” This highly competitive award recognizes organizations that have successfully implemented unique and innovative economic development strategies.  Prince William County was recognized for establishing Innovation@Prince William as a premier technology park, employment center, and university presence.