News & Events

Economic Barometer Newsletter


Summer 2005

2005 Regional Report:
Washington, DC Area Has Hit a Home Run!

Along with a successful new baseball team, economic trends documented in GWI’s 2005 Regional Report confirm a multiyear period of significant economic growth for the region encompassing Washington, DC, Northern Virginia, and Suburban Maryland.

The report compares Greater Washington to the nation’s ten most-populated areas, and reaffirms the region’s economy is “out of the park” as a national leader and global economic center. Greater Washington continues to accelerate the rate at which new jobs are added - 77,100 in 2004 - and significantly outpaces all other major metro areas.

To keep you up-to-date, this year’s report summarizes new and upcoming developments across the region. Numerous large real estate projects are generating jobs, creating more residential and commercial space and spurring new development opportunities. The region is also investing billions in transportation infrastructure, including work at both Washington Dulles and BWI Airports. And you’ll find a summary of major additions to the vibrant theater and cultural scene.

The report also looks at Greater Washington’s higher education community and the partnerships developed among the area’s leading universities and businesses. Research for this feature revealed new stats: more than 50 colleges and universities in the region enroll 328,000 full-time students—nearly as many as the region’s federal workforce!

How to Get Your Copy:
The 2005 Regional Report is available online at www.greaterwashington.org.
For a printed copy, email greaterwashingtoninitiative@bot.org or call 202-857-5999.

Data in the study documents the rise in federal government spending and includes a positive industry outlook.

CNN/MONEY Survey:
Washington Area Communities Among "Best Places to Live"

In a recent survey by CNN and MONEY magazine, 19 towns in the Greater Washington area were rated as among America’s best communities. Vienna, a Northern Virginia suburb, and two Maryland suburbs, Ellicott City and Gaithersburg, rank as three of the top 20 places in the country to live.

Sixteen other Washington area towns rank among the top 10 communities in the nation in key categories:

  • Great Falls and Fairfax Station, VA; and Potomac, MD, are among the towns with the highest household incomes in the U.S. Great Falls has the highest median household income in the country: $165,592.
  • Chevy Chase, Bethesda, and Potomac, MD; and McLean, VA, rank among the top 10 towns according to educational achievement.
  • Chevy Chase tops the list with 48% of its residents holding graduate degrees.Ashburn, Leesburg, and Sterling, VA, rank among the top 10 towns in the U.S. in terms of job growth. All three towns have increased employment more than 132 percent since 1990.
  • Arlington, VA; Washington, DC; and Bethesda, Chevy Chase, Derwood, Gaithersburg, Germantown, Kensington, and Montgomery Village, MD, take nine of the top 10 rankings in school spending.

A complete list of all 100 towns is featured in the August issue of MONEY and online at www.money.com/bestplaces.

Staff Note:
Tim Priest is GWI’s Interim Managing Partner
Tim Priest, who previously served as GWI’s Vice President, Business Development, now serves as Interim Managing Partner for the organization. Former Managing Partner Thomas Morr left in June to join Select Greater Philadelphia based in Philadelphia, PA. With expertise in economic development marketing and research, Tim has been with GWI since 1998. He can be reached at timpriest@bot.org.

Enjoy the rest of your summer!

The Greater Washington Economic Barometer is a quarterly communication from GWI for business professionals on regional economic trends and news. For more information on the Economic Barometer or to be added to the distribution list, email greaterwashingtoninitiative@bot.org. To opt-out of this list, please reply to this message with UNSUBSCRIBE in the subject line. For regional statistics and news, visit our web site at www.greaterwashington.org. GWI is an affiliate of the Greater Washington Board of Trade.

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Contact GWI

Greater Washington Initiative
(202) 857-5999