iiGrowth

Washington DC Metro Area Offers Great US Market Entry Point

29.07.2009

Blog & News, News

Written by: iiGrowth

DC Metro Market Entry

ii Growth LLC is located in Bethesda, Maryland, is in the heart of the U.S.’s most vibrant economic sector, the Washington DC Metropolitan Area, which includes Washington D.C. Northern Virginia, and Suburban Maryland. For international companies looking to enter the US market, the Washington Metropolitan Area offers many advantages.

According to June 2009 study by the Greater Washington Initiative (GWI) the region led the nation in job growth over the last 10 years and is the 4th largest in terms of Gross Regional Product (GRP) and population. The region is also home to the largest IT cluster in the United States as well as large and growing biotech and aerospace industries.

The region has a number of attributes that make it attractive to international firms:

  • Access to markets
  • A productive labor force
  • University and R&D support
  • Ease of transportation
  • Assistance in meeting the right people
  • A desirable place to live

The area has tremendous reach. It is an international communications hub, with excellent air access internationally. Over 60% of the U.S. population lives within a one-day drive/2-hour flight of Washington D.C.

Because of its geographic location and size, economic strength, large number of knowledge workers (over 1 million), universities and educations systems, and proximity to the US Federal Government there is a well developed ecosystem for doing business. This breadth also supports and enables leveraging significant cross-market opportunities that allow for accelerated market growth. The government and technology markets are particularly attractive for US market entry and can leverage one another.

Federal, State, and Local Markets

The Federal Government is the largest buyer in the world. The U.S. federal government market has grown 250 percent from 2000 to 2008. It is projected that the government will buy more than $500 billion USD in 2009. The federal government will continue to be the largest single buyer of goods and services in the world. The Washington Metropolitan area is the largest buyer within the Federal market with California being a distant second.

In addition, the Metropolitan areas boasts strong regional and local governments including Anne Arundel, Frederick, Montgomery and Prince Georges Counties in Maryland, as well as Fairfax, Alexandria (city) Arlington, Fairfax, Loudon, and Prince William in Virginia. Many of the counties also are home for technology innovation centers and incubators.

Each of the regions is also home for international businesses. For example:

  • WGI reports over 700 foreign firms doing business in Washington Metro Area
  • Fairfax County reports it has over 360 foreign businesses.
  • Montgomery County reports it has over 100 foreign owned businesses (550 in the state of Maryland).

Technology Industry

According to the GWI June, 2009 report, “Greater Washington’s technology cluster has the country’s highest concentration of network and computer systems administrators, database administrators, and computer programmers. The region also has six times the national average of computer scientists and four times the national average of computer software engineers.

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