Washington, D.C.
Washington, D.C. is the home of the U.S. government, and the region has therefore some distinct advantages.
Local companies have gained from increases in government spending, particularly on homeland security and defense. And with the government’s long-term trend toward even more private-sector contracting, the business of government in the Greater Washington area just keeps getting bigger.
The region is now home to the third-largest bioscience cluster in the world. There’s a unique combination of dynamic companies, government agencies, academic institutions and professional associations, all based in and around Washington, D.C.
Thanks in part to the presence of the World Bank, International Monetary Fund and about 700 internationally-owned companies, Washington, D.C. and the surrounding areas has become a centre of international commerce.
And in the middle of all this is Innovation Norway, situated at the
Royal Norwegian Embassy ready to help your company.
Here are some more facts about the possibilities in the area in and around Washington, D.C.: The metropolitan area is a total of 6,000 square miles (15,500 kilometres) encompassing the District of Columbia, Northern Virginia and Suburban Maryland.
With a regional population of 6 million, it's the 4th largest U.S. metropolitan region after New York, Los Angeles, and Chicago.
Greater Washington is the only large metro in the U.S. with positive job growth – with nearly 72,000 new jobs in 2005. Since 2000 the metropolitan area has added more than 270 000 new jobs, outpacing Miami, the nearest competitor, by 62 000 jobs.
A Vibrant Economic Centre
• Gross regional product of nearly $342 billion in 2005, a 4,5 % increase over 2004 and a 28,5 % increase since 2000. This makes the GRP of the Washington metropolitan region the 4th largest in the nation
• For nine consecutive years, Greater Washington has led the nation with the most firms (including 50 in 2005) on the Inc. 500 list of fastest growing companies.
• Median household income of $72,799 – Greater Washington is the wealthiest among the nation’s large metros.
Home of the U.S Government
• Federal government is the largest single technology consumer in the world.
• Purchases by the U.S. government in Greater Washington increased 19 % in 2004 to reach a record $52,6 billion.
• Federal employment is only 10,6% of total regional employment.
Spending on Security
• The FY 2007 budget for the U.S. Department of Homeland Security is expected to reach 4,4 billion, an increase of more than 20 % over FY 2006.
Innovative and Diverse
• Greater Washington’s Hispanic and African American communities are starting new companies 3 times faster than the national average.
• Companies owned by Greater Washington’s women and minorities are recognized nationally with:
- 25 companies on 2005 Hispanic Business 500
- 13 companies on Black Enterprise Top 100 Industrial/Service List
- 25 companies on DiversityBusiness.com’s Top 500 Women-owned-Businesses.
A strong Biotech Centre
• Home to the third-largest bioscience cluster in the world
• Greater Washington has the more than 32 000 life and physical employees, significantly more than any other metropolitan area in the U.S.
• Third-largest number of bioscience companies in the world and a leader in human genome research
• Home of the National Institutes of Health, U.S. Food and Drugs Administration, and National Institute of Standards and Technology
International
• About 700 internationally owned companies, up 9% since 2000.
• The AFIRE Foreign Investment Survey ranked Washington D.C. first nationally and second globally (after London) as the best city for commercial real estate investment in 2005.
An Educational Leader
• More than 50 colleges and universities are based in the region – with more than 328 000 full-time students. Of these students, 23% are pursuing advanced degrees.
• Area colleges and universities hosted about 19 000 international students in 2005.
Highly Educated Residents
• Greater Washington has more than one million residents with a bachelor’s degree and a half-million residents with a graduate degree.
• The region has a higher percentage of PhDs (2,5%) than all major metro areas in the U.S.
• More than 325,000 scientists, engineers and computer professionals
