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December 4, 2009

Greater Washington Regional Overview Loudoun County EDC. December 4, 2009. Matt S. Erskine Executive Director. Greater Washington Region – An Overview. District of Columbia, Northern Virginia, Suburban Maryland 27 counties and jurisdictions Population = 6.2 million

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December 4, 2009

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  1. Greater WashingtonRegional OverviewLoudoun County EDC December 4, 2009 Matt S. Erskine Executive Director

  2. Loudoun County EDC - 12.4.09 Greater Washington Region – An Overview • District of Columbia, Northern Virginia, Suburban Maryland • 27 counties and jurisdictions • Population = 6.2 million • Since 2000, population has increased by 700,000

  3. Loudoun County EDC - 12.4.09 Greater Washington – Economic Strength & Stability • 4th largest economy in the U.S. • Gross Regional Product - $454 billion • Consistent GRP growth over last two decades – 3.7% CAGR • 1st nationally in net new job growth over last decade • Federal procurement of goods & services = $66.5 billion (11% annual growth rate)

  4. Loudoun County EDC - 12.4.09 Greater Washington – Economic Diversity • Professional & business services account for 23% of jobs (federal government = 11%) • 2nd largest employer of technology workers in the U.S. • Professional & business services the fastest growing segment of the region’s economy at 3.6% per year • Strong leisure & hospitality industry

  5. Loudoun County EDC - 12.4.09 Greater Washington – Highly-Educated Workforce • #1 in the US: 47% of the workforce has a Bachelor’s degree and 22% has an advanced degree • Highest concentration of knowledge workers of any major U.S. metro • Workforce is 1st in U.S. by percentage in • Business & Finance • Computer & Mathematical Science • Life, Physical, and Social Science Occupations • Legal Occupations • Home to 6 of top 8 counties in nation with highest percentage of college degrees

  6. Loudoun County EDC - 12.4.09 Greater Washington – Highly-Educated Workforce • More than 50 colleges and universities • 16 of the 100 highest-performing high schools in the U.S. in Greater Washington • Region ranked #1 in best metro-wide public school systems according to Expansion Management • 1st in U.S. in number of Gold Rated K-12 schools

  7. Loudoun County EDC - 12.4.09 Greater Washington – Workforce Diversity • Foreign-born workers account for 22% of Greater Washington’s population • 42% of foreign-born has Bachelor’s degree; 19% has graduate or professional degree • 1.51 million in Greater Washington are bilingual • More female executives per capita than any major U.S. metro • Highest labor force participate rate among women and workers over 65

  8. Loudoun County EDC - 12.4.09 Greater Washington – Workforce Diversity • Highest percentage in the U.S. of women aged 25 or older with a Bachelor’s or advanced degree (44.9 percent vs. US average of 26.7 percent). • Highest proportion of female workers in executive positions than any major metropolitan region in the U.S. • For every 100,000 female workers in Greater Washington, 1,213 are in executive or managerial positions, or 1.2 percent • 56 percent higher than the national average. • No. 1 among major metropolitan areas in median earnings for the female population over 25 years - $42,650 • 52 percent more than national median earnings for women ($28,100) • 23 percent more than median earnings for all workers nationwide (men and women) 25 years or older ($34,500). • Among women 25 or older in the Greater Washington region, 9.9 percent earn more than $100,000 annually vs. the national average of 3.2 percent.

  9. Loudoun County EDC - 12.4.09 Greater Washington – Globally Connected • More than 530 international non-stop flights leave Greater Washington each week • Service to more than 40 world cities connections region to 80% of world’s economy • 22% of world GDP is within a 2-hour flight

  10. Loudoun County EDC - 12.4.09 Greater Washington – Globally Connected • More than 900 foreign-owned firms from 48 countries (58 in Loudoun County) • Home to 180 embassies, The World Bank and International Monetary Fund • 61 language emersion schools and 91 International Baccalaureate schools • More than 18,000 international students

  11. Loudoun County EDC - 12.4.09 Greater Washington – Innovation & Entrepreneurship • Home to the most Inc. 500 fastest-growing companies in the U.S. for 13 consecutive years (48 in 2008) • Top 20 venture capital firms have $17 billion under management • Nearly $6.9 billion of venture capital invested in regional companies from 2002-2008

  12. Loudoun County EDC - 12.4.09 Greater Washington – Quality of Life • Lead the nation in Good Health Status (90.5% of residents) • 234,00 acres of parkland; 800+ miles of bikeways • 80+ theatre companies • 320,000 seats at major sports stadiums • Highest median household income in the U.S. ($85,824) – Loudoun County #1 ($111,925) • 7th in U.S. & 107th in world in cost of living

  13. Loudoun County EDC - 12.4.09 Annual Health Care Costs Per Employee Greater Washington’s Health Care Costs Remain Lower than Most Competitor Regions Greater Washington 17.5% 2005 2009(05 – 09 Growth Rate in Parentheses) Atlanta 20.6% Boston 18.3% Chicago 20.3% Dallas 21.1% Source: Hewitt Associates Los Angeles 16.7% New York City 12.5% Philadelphia 21.2% San Francisco 31.2% 2005 U.S. AVERAGE 2009 U.S. AVERAGE

  14. Greater Washington Initiative (GWI)

  15. Loudoun County EDC - 12.4.09 Greater Washington Initiative (GWI) – An Overview • GWI is the regional economic development, marketing and research organization with the mission to market the Greater Washington region as the premier global business location. • Established 15 years ago as a private-public partnership and wholly-owned subsidiary of the Greater Washington Board of Trade. • Formed on the premise that the region must be promoted as a whole in order to compete successfully for economic growth. • Led by a Board of Trustees that includes both private and public sector executives; financially supported by local public jurisdictions and private companies. • Coordinates with the Greater Washington Council of Economic Development Officials (CEDO), a collaborative group of top economic development officials from the 27 jurisdictions throughout the region.

  16. Loudoun County EDC - 12.4.09 The Importance of the Regional Approach • A regional marketing approach is vital because competitive analyses by company decision-makers begin by benchmarking regions. • Strategically marketing Greater Washington’s story means that we define the region’s brand as opposed to having it defined for us. • Now is the time for a strong, continued regional marketing effort. • A regional marketing and branding approach transforms disparate jurisdictions into a compelling regional brand identity. • We are stronger together as a region than separately when we are marketing ourselves, especially to international companies. • For the jurisdictions, the opportunity to be marketed as an integral part of a larger region should not be underestimated.

  17. Loudoun County EDC - 12.4.09 Greater Washington Initiative – How We Serve as a Resource • Only organization that markets the Greater Washington region domestically and globally as a business location • GWI leverages public-sector investment against the aggregate investments from the private-sector and the higher education sector. • One-stop centralized resource for companies interested in Greater Washington and seeking regional data • Exclusive customized research for clients and regional partners • Only organization that convenes – on a true regional basis - business executives, elected officials, higher education leaders, and economic development professionals in collaborative marketing effort for the Greater Washington region

  18. Loudoun County EDC - 12.4.09 How GWI Provides Value to Regional Partners • GWI fills the funnel with economic development opportunities for the region. • GWI provides complimentary research and data for jurisdictions. • GWI assists local jurisdictions with project specific information to assist in making the business case. • GWI convenes the regional economic development professionals quarterly to facilitate dialogue and ensure transparency and coherency in its marketing efforts.

  19. Current Asset Foundation TARGET Growth Values Loudoun County EDC - 12.4.09 GWI Gameplan - Target Industry Strategy Defining the right audience involves a careful consideration of the region’s economic opportunities. • GROWTH – Current and projected growth trends; industries must provide employment opportunities five, ten, and fifteen+ years from now. • CURRENT ASSET FOUNDATION – Industries attracted by Greater Washington’s assets, including high levels of educational attainment, federal presence, workforce diversity,significant international connections, plentiful research universities, and a strong base of professional and business services. • VALUES– Industries examined are characterized by high levels of educational attainment and annual salaries above national averages; include wide range of occupational options, providing employment opportunities for a variety of prospective employees.

  20. Loudoun County EDC - 12.4.09 GWI Gameplan - GWI Target Industry Strategy The Target Industry Analysis identified four industries for strategic focus: • Aerospace, Defense, Intelligence & Security • Biotechnology & Life Sciences • Information & Communication Technology (ICT)/Media • Energy Efficiency & Sustainability. Exciting opportunities exist not only within each target industry, but also at the crossroads of two or more industries. Emerging niche sectors include: • Health IT (ICT + Life Sciences) • Network Security (Defense + ICT) • Biometrics and Biodefense (Life Sciences + Defense).

  21. Loudoun County EDC - 12.4.09 Integrating Target Industry Strategy + Functional Focus

  22. Loudoun County EDC - 12.4.09 GWI Budget & Focus

  23. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Marketing Telling the right story, in the right way, to the right audiences • Conducting comprehensive marketing campaigns to promote Greater Washington’s competitive advantages • Providing a world-class, dynamic online presence as the central “go-to” resource on regional information for our targeted audiences • Promoting an accurate brand message for the region (instead of letting others, including the media, define our region) by placing positive media and editorial coverage of the Greater Washington region in key national and international media channels • Proactively providing information to targeted regional, national, and international audiences through advertising, B2B meetings, and industry-specific conferences and events.

  24. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Marketing in 2009 • GWI Website – brand new and completely reengineered Website to more effectively support marketing, business development, and research efforts • Washington Flyer - print and video CEO testimonials; reaches readership of 600,000; video testimonials run every hour on CNN Gate monitors at National and Dulles airports and reaches 4 million/month • Business Media Outreach — reached major business markets in the US, Europe and Asia; picked-up by Yahoo, CNBC, MSN, and int’l online news outlets; messaging viewed 6,400 times, including in French, German, Italian, Dutch, Spanish, and Chinese • Site Selection and Expansion Solutions — exposure to more than 66,000 senior level corporate real estate executives and site selection consultants; additional distribution at six national & international economic development conferences/events • Inc. Magazine - GWI partnered with Inc. to create a special regional section in the Inc. 500 issue, the largest-selling issue - reaches 1.4 million readers • Inauguration Marketing — with worldwide attention on Greater Washington, GWI’s strategic marketing targeted business audiences and reached millions

  25. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Marketing “Greater Washington Dominates Inc. 500 List of Fastest-Growing Companies – 13th year in a row at #1” “Greater Washington Counties Recognized for IT…Loudoun County” “Greater Washington Ranks #1 in Median Household Income…Loudoun County”

  26. Loudoun County EDC - 12.4.09

  27. Loudoun County EDC - 12.4.09

  28. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Research Providing the best regional research resources for target audiences and regional partners • Publishing annual Regional Report to document economic and business trends • Producing industry-specific analyses and research reports to highlight business assets and clusters • Conducting special research projects and responding to specific research inquiries from companies, site location consultants, investors, and economic development partners • Providing current and relevant data for new website

  29. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Research in 2009 • 2009 Greater Washington Regional Report – Flagship research publication for the region, released on June 3, 2009 at GWI’s Annual Meeting (downloaded more than 8,000 times over last two years) • Updated and redesigned Aerospace and Defense Industry Overview • Target industry and market analysis completed • International Firms Directory completed • New industry report on alternative/clean energy underway; inventory of Greater Washington’s assets; markets the region as an epicenter for alternative/clean energy/clean tech businesses

  30. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Research

  31. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Business Development Providing complimentary and customized services to help companies make informed decisions • Hosting company delegations and site tours • Organizing business development missions and attending business development conferences • Working hand-in-hand with local economic development professionals to attract specific targeted projects • GWI’s services help companies: • UNDERSTAND – demographic, economic, and industry data and trends about the Greater Washington region • COMPARE – regional data to other major U.S. metros • LOCATE – the right sight within the region that fits a company’s needs • CONNECT – with people and resources needed to succeed

  32. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Business Development in 2009 • Outreach to top 300 national site selection consultants • Consistent and continuous response to consultants and company decision-makers and requests for information about Greater Washington • Opened eleven new project files in 2009 • Presentations to business delegations from China, France, India, Germany, Wales, Australia, Belgium, Italy, Canada, Japan, Finland, Sweden, UK, and Greece. • French and German delegations coordinated with Loudoun County DED representatives and elected officials • Provided assistance on new non-stop air service to Geneva; working with MWAA, WATF and local partners on service to Tel Aviv. • Participated in Paris Air Show; targeting international companies in aerospace & defense industry

  33. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Conversation Focus on the “big picture” and long-term strategies and issues • Increase the quality and effectiveness of the dialogue between regional partners and the private, public, and higher education communities to result in better ideas, strategies and solutions for the promotion and marketing of the Greater Washington region as the premier location for business.. • GWI will convene regional business leaders, economic development professionals, colleges and universities, and other community leaders to build collaborative relationships and engage in the conversations regarding the marketing and competitive positioning of the region as the premier location for business.

  34. Loudoun County EDC - 12.4.09 GWI Gameplan – Strategic Conversation in 2009 • Brought together for the first time the chief economic officials from Virginia, Maryland, the District of Columbia; robust discussion on regional collaboration • Hosted U.S. Senator Mark Warner, Canadian Ambassador, Senior Ministers from China and India, Greater Washington business leaders, and senior representatives from 12 countries at GWI Annual Meeting • Quarterly meetings with senior regional business executives, elected officials, higher education leaders, and economic development professionals; exclusive presentations from McKinsey & Co., Site Selection, and IHS Global Insight

  35. GWI Metrics Loudoun County EDC - 12.4.09 YTD 2009 RESULTS 1.1.09 – 11.15.09 1.1 million* 16 18 48 5 28 33,260 21,329 11 In development

  36. Loudoun County EDC - 12.4.09 Thank You. greaterwashington.org 1725 I Street NW, Suite 200 Washington, DC 20006 Tel: 202-857-5999

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