India 2016

Hello India.

WASHINGTON

IS BLOOMING

EVERY spring, hundreds of thousands of visitors flock

large cities dropped 3% during that time, values in

to America’s capital to take in the gorgeous vistas

Washington rose 3.6%.

of cherry-blossom time. Above the bloom-laden trees, this year’s tourists glimpsed a rare sight: cranes

To many Americans, the capital’s boom mainly

towering over downtown Washington and the nearby

reflects the relentless growth of the bureaucratic

suburbs. Across the metropolitan area, ambitious

state. Washington’s economy is supported by federal

building projects are moving forward. Bold developers

government employment, which is virtually recession-

are once more confident that demand will materialise.

proof. The federal government accounts for 2.2% of

While most of America frets over a jobless recovery,

all jobs nationally, but for nearly 13% of those in the

the Washington economy is booming.

Washington area. And the capital’s primary business did not

On nearly every measure, the capital is exceptional.

And yet it would be wrong to attribute Washington’s

At 5.9%, Washington’s unemployment rate is easily

success in creating jobs entirely to the public sector.

the lowest among America’s large metropolitan areas.

Although federal spending rose, the recession forced

That is down from a recession high of just 7%, well

state governments in Virginia, Maryland and the

below the national peak of 10.1%. Employment in the

District of Columbia to cut back. And rising federal-

metro area has risen by about 84,000 over the past

government employment during the downturn

year—roughly 6% of America’s job growth, in a region

was partly driven by efforts to save flailing private

with just 2% of its population. Incomes are high and

industry. The government added workers to oversee

rising, and the combination of job and income growth

intervention in the financial-services and car industries,

has buoyed a property market that was battered by

and financial-regulatory agencies have continued

the housing bust. House values in most cities fell in

to add staff since. Washington has frequently grown

the year to January, according to the S&P/Case-Shiller

stronger in the wake of economic calamity, often

index of prices. But whereas an index of prices in 20

because of public demand for more market oversight.

Well away from federal government, Washington

the Washington area ought to be about 7%—well

also has other advantages. Its suburbs support a

below the national average, and not far off its

rich array of high-tech and bioscience enterprises,

actual figure.

many of which held up well during the downturn.

The city’s labour pool tends to be highly-skilled, and the impact of the recession was mostly felt by the lower-skilled. Based solely on the education levels of its adult population, the unemployment rate for

Source: The Economist

Economic Strength & Stability Greater Washington has successfully surpassed challenging economic conditions and emerged as one of the country’s best performing economies . Since 2006, the regional economy has grown by nearly 7.5 percent on an inflation-adjusted basis. No other major metropolitan area in the United States has achieved a greater level of economic growth during this period. In fact, Greater Washington’s economy outperformed most other major metropolitan regions by more than two percentage points.

A decade of consistent, solid growth has made Greater Washington one of the country’s most important economic powerhouses. According to recently-released data from the Bureau of Labro Statistics, DC’s job market will grow at the fastest rate of any metro area in the country over the next ten years. Most metro areas’ economies are skewed towards some industries and away from others. The metro areas that should grow fastest will then be those where fast-growing industries are concentrated. Thanks to its large share of professional services, the DC metropolitan area wins among the 100 largest metro areas.

Job Growth, 2001-2011 (in thousands of jobs) Houston, TX

303.5

Greater Washington Dallas, TX

148.9

Seattle, WA -1.0 -3.0 -91.6 -256.1 -325.1 -354.0

Atlanta, GA

New York, NY

Boston, MA Chicago, IL Los Angeles, CA

San Francisco/San Jose, CA SOURCE: Bureau of Labor Statistics

37.2

276.3

Successful Business Environment Greater Washington provides global companies with a tremendously supportive operating environment.

The region is home to twenty Fortune 500 company headquarters. In 2011, these companies had combined revenues of nearly a half-trillion dollars.

In recent years, Greater Washington has established itself as an epicenter for multinational corporate headquarters. During the past decade, no other metropolitan area in the country has been as successful in recruiting corporate headquarters relocations. Since 2008, five new corporate headquarters have moved here, more than anywhere else in the country.

Greater Washington has more Inc. 500 fastest-growing private businesses than any other region in the country—a title the region has held for the past fifteen consecutive years. In 2011, 56 Greater Washington firms were recognized on the Inc. 500 list—more than 10 percent of the nation’s total.

Number of INC. 500 Companies Headquartered in Greater Washington, 2011 Greater Washington

56

Los Angeles, CA

46

New York, NY

43

San Francisco/San Jose, CA Atlanta, GA

17

Chicago, IL

17

Seattle, WA

22

14

Boston, MA

13

Houston, TX Dallas, TX SOURCE: Inc.

6

9

Highly-Educated Population Foreign-born residents represent more than 20 percent of the total population. During the past decade, the local foreign-born population has grown by 47 percent—a faster rate of growth than the overall national average of 28 percent. Since 2000, the 391,000 new foreign-born residents accounted for more than half of the region’s net population increase.

The foreign-born population contributes to the region’s phenomenal levels of talent. Among all major metropolitan regions in the United States, Greater Washington’s immigrant workforce is the most highly educated: 41 percent hold a bachelor’s degree, and 20 percent possess a graduate or professional degree.

Origin of Foreign-Born Population in Greater Washington, 2011

41.1%

35.4%

Americas

Asia

13.4%

9.2%

.4%

Africa

Europe

Other

SOURCE: US Census Bureau

Diverse, Foreign-Born Workforce Twenty-two percent of the region’s workforce has a graduate or professional degree, and 48 percent has a bachelor’s degree. These figures place Greater Washington first among the nation’s major metropolitan areas. Sustaining and enhancing this well-educated workforce requires a robust pipeline of talent, and Greater Washington possesses the premier knowledge ecosystem in the United States. In Greater Washington knowledge is prized, promoted, and networked. Skilled workers—drawn from around the world—continue to drive economic growth throughout the region. Every jurisdiction of the area shares the region’s highly-educated workforce.

According to the United States Census Bureau, the region is home to six of the top ten most highly educated counties in the nation—providing companies with a broad range of location options unmatched anywhere else in the United States.

Percent of Population Age 25+ with Bachelor Degree and Graduate Degree, 2011

Bachelor Degree Greater Washington

Graduate Degree 25.1%

22.9%

26.2%

18.1%

24.1%

19.0%

24.5%

13.6%

21.4%

14.9%

22.8%

11.8%

Chicago, IL

21.2%

13.0%

Dallas, TX

21.3%

10.1%

20.3%

10.7%

20.3%

10.7%

San Francisco/San Jose, CA Boston, MA Seattle, WA New York, NY Atlanta, GA

Los Angeles, CA Houston, TX

SOURCE: US Census Bureau

BROKERAGE OFFICES GEORGETOWN, DISTRICT OF COLUMBIA 1206 30th Street, N.W. Washington, D.C. 20007 +1 202 333 1212 DOWNTOWN, DISTRICT OF COLUMBIA 1506 14th Street, N.W. Washington, D.C. 20005 +1 202 234 3344 MCLEAN, VIRGINIA 6723 Whittier Avenue, Suite 101 McLean, VA 22101 +1 703 319 3344 ALEXANDRIA, VIRGINIA 400 South Washington Street Alexandria, VA 22314 +1 703 310 6800足 CHEVY CHASE, MARYLAND 5454 Wisconsin Avenue Chevy Chase, MD 20815 +1 301 967 3344

Data Source: WDCEP (Washington, DC Economic Partnership), 2013