december 4, 2009 greater washington regional overview loudoun county edc matt s. erskine executive...

December 4, 2009

Greater WashingtonRegional Overview

Loudoun County EDC

Matt S. ErskineExecutive Director

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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

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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)

Greater Washington – Economic Strength & Stability

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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

Greater Washington – Economic Diversity

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#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

Greater Washington – Highly-Educated Workforce

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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

Greater Washington – Highly-Educated Workforce

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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

Greater Washington – Workforce Diversity

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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.

Greater Washington – Workforce Diversity

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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

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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

Greater Washington – Globally Connected

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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

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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

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Annual Health Care Costs Per Employee

$0 $2,000 $4,000 $6,000 $8,000 $10,000

2005 2009 (05 – 09 Growth Rate in Parentheses)

Greater Washington 17.5%

Atlanta 20.6%

Boston 18.3%

Chicago 20.3%

Dallas 21.1%

Los Angeles 16.7%

New York City 12.5%

Philadelphia 21.2%

San Francisco 31.2%

2005 U.S. AVERAGE 2009 U.S. AVERAGE

Greater Washington’s Health Care Costs Remain Lower than Most Competitor Regions

Source: Hew

itt Associates

Greater Washington Initiative (GWI)

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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.

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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.

The Importance of the Regional Approach

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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

Greater Washington Initiative – How We Serve as a Resource

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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.

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GWI Gameplan - Target Industry Strategy

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.

Defining the right audience involves a careful consideration of the region’s economic opportunities.

Current Asset Foundation

Growth Values

TARGET

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GWI Gameplan - GWI Target Industry StrategyThe Target Industry Analysis identified four industries for strategic focus: Aerospace, Defense, Intelligence & Security Biotechnology & Life Sciences Information & Communication Technology

(ICT)/Media Energy Efficiency & Sustainability.

Health IT (ICT + Life Sciences) Network Security (Defense + ICT) Biometrics and Biodefense (Life

Sciences + Defense).

Exciting opportunities exist not only within each target industry, but also at the crossroads of two or more industries. Emerging niche sectors include:

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Integrating Target Industry Strategy + Functional Focus

Target Industries

Aerospace, Defense, & Homeland

Security

Energy Efficiency & Sustainability

Biotechnology & Life Sciences

Information & Communication

Technology / Media3

Strategic Marketing

Strategic Business DevelopmentFu

ncti

onal

Foc

usSTRATEGIC CONVERSATION

STRATEGIC RESEARCH

Building collaborative relationships and engaging in the conversations regarding the marketing and competitive

positioning of the region.

Providing the best regional research resources for our target audiences and regional partners.

Help attract specific targeted projects and serve as a collaborative partner

Comprehensive, coordinated, integrated, and targeted marketing

Target Industries

Aerospace, Defense, & Homeland

Security

Energy Efficiency & Sustainability

Biotechnology & Life Sciences

Information & Communication

Technology / Media3

Strategic Marketing

Strategic Business DevelopmentFu

ncti

onal

Foc

usSTRATEGIC CONVERSATION

STRATEGIC RESEARCH

Building collaborative relationships and engaging in the conversations regarding the marketing and competitive

positioning of the region.

Providing the best regional research resources for our target audiences and regional partners.

Help attract specific targeted projects and serve as a collaborative partner

Comprehensive, coordinated, integrated, and targeted marketing

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GWI Budget & Focus

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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.

GWI Gameplan – Strategic Marketing

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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

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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”

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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

GWI Gameplan – Strategic Research

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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

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GWI Gameplan – Strategic Research

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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

GWI Gameplan – Strategic Business Development

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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

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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.

GWI Gameplan – Strategic Conversation

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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

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YTD 2009 RESULTS1.1.09 – 11.15.09

GWI Metrics

1.1 million*

16

18

48

5

28

33,260

21,329

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In development

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greaterwashington.org1725 I Street NW, Suite 200

Washington, DC 20006Tel: 202-857-5999

Thank You.

http://www.greaterwashington.org/

december 4, 2009 greater washington regional overview loudoun county edc matt s. erskine executive...

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