Washington , DC; June 3, 2009 – The Greater Washington Initiative released the 2009 Regional Report today at its Annual Meeting in Washington, DC, which brought together leaders from business, higher-education, government, and the international community.

The Regional Report is the Greater Washington region’s signature research publication that compares the region to major metropolitan areas around the nation and world by providing current and forecasted data on the region’s economy, business landscape, and quality of life.

“The 2009 Regional Report calls attention to our region’s story because Greater Washington is the place for business,” said GWI Chairman Samuel A. Schreiber, Wachovia’s regional executive for Washington DC, Maryland, and Virginia. “Greater Washington’s economy is strong, diverse, and resilient. In fact, over the last decade, Greater Washington added 643,000 net new jobs – the most in the US by far – even topping New York, which has an economy nearly three times as large. Clearly, Greater Washington is where business thrives.”

Featuring both quantitative data and qualitative information on the Greater Washington region, the Regional Report serves as the “go to” resource for individuals and organizations looking to make informed decisions about locating to or expanding in Greater Washington.

“Greater Washington’s economy is increasingly diverse, with strength in key sectors such as aerospace and defense, information technology, biotechnology and life sciences, healthcare, hospitality, and retail services,” noted Matt S. Erskine, executive director for the Greater Washington Initiative. “The region’s structure – strong in the services and technology sectors, with the most-educated workforce in the country, and an unmatched global connectivity – represents the model for sustainable growth in large metropolitan areas.”

The report provides real company testimonials to emphasize the key messages borne out by the data and dispels the common misperception that Greater Washington is a sleepy government town, populated largely by bureaucrats. The true picture could not be more different. This year’s Regional Report clearly tells the story that Greater Washington is the world’s premier business location.

Top Takeaways from 2009 Regional Report:

Economic Strength & Stability

• Gross Regional Product = $454 billion
• Consistent, steady GRP growth over last two decades; CAGR = 3.7% (national GDP CAGR = 2.7%)
• During four previous recessions, including the current economic downturn, the Greater Washington region has outperformed the national economy during every recession.

Highly-Educated Workforce

• #1 in the US: 47% of workforce has Bachelor’s degree; 22% has advanced degree
• Home to 6 of top 8 counties in nation with highest percentage of residents with college degrees

Economic Diversity

• Professional & business services largest sector; accounts for 23% of jobs
• 2nd largest employer of technology workers in the US
• Professional & business services the fastest growing segment of the region’s economy at 3.6% per year

Workforce Diversity

• Foreign-born workers account for 22% of population
• 42% of foreign-born workers has a bachelor’s degree and 19% has an advanced degree
• More female executives per capita than any major US metropolitan region

The Power of Knowledge

• 16 of the 100 highest-performing high schools in the US located in Greater Washington
• Region ranked #1 in best metro-wide public school systems according to Expansion Management

Federal Government Foundation

• #1 in the world for government research & development spending per capita – higher than Beijing, Shanghai and Berlin
• Federal procurement of goods and services = $66.5 billion, the most in the US
• Average annual federal procurement growth rate since 1988 = 11%

Global Connectivity

• More than 530 weekly international non-stop flights from three world-class airports
• Service to more than 40 world cities connects region to 80% of world’s economy

Innovation & Entrepreneurship

• Home to the most Inc. 500 fastest-growing companies in the US — a position held for the past 12 consecutive years
• Nearly $6.9 billion of venture capital invested in regional companies from 2002–2008

Quality of Life

• Highest median household income in US ($83,200)
• Cost of living: 7th in US and 107th in world

The 2009 Regional Report is available online at www.greaterwashington.org.

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The Greater Washington Initiative (GWI) is the regional marketing and economic development 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.