Washington, DC has many faces. It is the home to the U.S. government while being remarkably international with approximately 180 resident embassies and respected global economic and policy organizations. More than 90,000 DC resident or 15 percent of the population speak more than a dozen different languages. The Greater Washington region is home to 400 international associations and 1,000 internationally owned companies. It is considered one of the most accessible and welcoming of U.S. cities, with its low-profile skyline and with a lifestyle and culture that are the envy of other world capitals.
As of 2015, the population of the District exceeds 668,000, and another half a million commuters come in daily from Maryland and Virginia, bringing its weekday population to well over a million people. The District is served by three international airports, and an expansive subway and bus system that servces the metropolitan area, and the national highway system. The District of Columbia is an ideal location to do business. It provides opportunities that no other city can offer. Here are some key facts about why you should invest in DC.
Among U.S. metropolitan areas, the Washington, DC, region has the highest percentage of college graduates, according to the U.S. Census Bureau. More than 100 academic institutions operate programs and degrees in this region. These institutions attract, educate, and help retain exceptional talent. If your business is looking for highly educated employees and leaders, this is the place for you.
Washington, DC, is a hub for thought leadership and policy makers globally. Organizations like the World Bank, the International Monetary Fund, Organization of American States, the Inter-American Development Bank, and the Carnegie Endowment for International Peace utilize Washington, DC, as a focal point for critical international conversations about the world economy, global politics, the environment ,and peace. If your business is seeking international impact, this is the place for you.
Why Washington DC?
Washington, DC, is a thriving marketplace for ideas, innovation, and invention. Fifteen of the Fortune 500 companies call this region home, and they represent a variety of industries from international hospiltality with Hilton Worldwide and Marriott to finance with Capitol One and Fannie Mae. The region is home to engineering and defense giants with General Dynamics, Lockheed Martin, and the Computer Sciences Corporation, as well as technology firms like Advisory Board and Blackboard. If your business is looking for opportunity, this is the place for you.
The Obvious Choice for International Companies
In 2014, the District had $6 billion dollars in real estate investment sales, a significant jump from $4.7 billion in 2013. And because it is a cosmopolitan city with an educated and diverse workforce, a high quality of living and business friendly government, foreign firms continue to invest and expand to Washington, DC.
FDI in the District has major impacts on the District’s job market. In 2011, around 21,500 jobs were created due to U.S.-affiliated of foreign firms. New FDI project announcements have increased from seven in 2003 to twenty-two in 2011. Since 2003 there have been 125 FDI projects announced in Washington, DC, and when completed they will represent more than $785 million in capital investments.
In 2014, fDi magazine ranked Washington, DC, third among its major American Cities of the Future 2015-16 for its human capital and lifestyle in attracting FDI to the market. It was behind Boston and San Francisco. The District ranked seventh in the magazine’s assessment of FDI-related interest in terms of connectivity. Directly investing into Washington, DC, creates the opportunity for strong firms to bring new and innovative practices to the city and region, which is ripe with federal contracting opportunities. In 2013, for example, $17.3 billion worth of contractor work was performed in Washington, DC, according to State Smart.
Here are some top initiatives to assist DC businesses and foreign investors:
- D.C. China Center: Located in Shanghai, the DC China Center is designed to assist DC businesses to access the China market. The DC China Center is Washington, DC’s first international office. For more information about the DC China Center, please visit www.dccenterchina.org
- EB-5 Program - Immigration Investor Program: The U.S. Citizenship and Immigration Services administers the EB-5 program, for more information about the EB-5 program, please visit www.uscis.gov. If you are a Regional Center and interested in investing in a DC based project, please contact Gizachew Andargeh at [email protected]
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Sector Manager for International Business