Greater Washington partnership

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Presentation transcript:

Greater Washington partnership 2017

Our innovative past has created a world renowned region 3rd Largest in the United States 7th Largest in the Global Economy Maryland District of Columbia More than $650B Real GDP Virginia 10.2M Population 50 jurisdiction region Includes 35 counties, 1 district, 2 states, 12 independent cities ©GREATER WASHINGTON PARTNERSHIP. All rights reserved.

45% of the population 25 years+ hold Bachelor’s degree or higher IN THE CAPITAL REGION WE HAVE GREAT DIVERSITY, TREMENDOUS ASSETS AND HUGE POTENTIAL 115 federal labs and federally- funded research and development centers 45% of the population 25 years+ hold Bachelor’s degree or higher 184 languages spoken; 175 international embassies 55 Fortune 1000 companies headquartered in MD, DC, VA 4 significant airports, two major shipping ports ©GREATER WASHINGTON PARTNERSHIP. All rights reserved.

but We Must improve our position in an increasingly competitive global economy Annual GDP growth rate 2012 – 16 The region has seen slower GDP growth compared to select high growth regions1 The region would have had an additional $35B in GDP had it grown at 2.3% 2.3% 1.0% The region’s net migration rate of millennials underperforms other select high growth regions of regional startups survive more than 5 years vs. 13% in select high growth regions 9% Annual median household income growth rate 2012 – 16 The region has seen lower median household income growth compared to select growth regions The median household income would have been $2,200 higher had it grown at 2.9% 2.9% 2.3% CAGR 1 Select high growth regions are comprised of Austin, Boston, New York City, and Silicon Valley ©GREATER WASHINGTON PARTNERSHIP. All rights reserved.

BY WORKING TOGETHER AS A REGION WE CAN BUILD ON OUR PROUD HERITAGE In an increasingly global economy, regions rather than countries are the key unit of competition, becoming hubs of talent and innovation that can… Provide scale to compete globally for people, capital, and ideas 01 Offer a robust and diverse labor pool 02 Foster industry ecosystems 03 BALTIMORE TO WASHINGTON 155,0001 WASHINGTON TO BALTIMORE 79,9001 WASHINGTON TO RICHMOND 4,8001 RICHMOND TO WASHINGTON 10,3001 1 Daily commuters ©GREATER WASHINGTON PARTNERSHIP. All rights reserved.

AND COMPETE AS OTHER REGIONS ADVANCE TRANSFORMATIVE PROJECTS Regional Mobility London Crossrail High speed rail to California Bay Area Greater Houston Partnership Workforce Initiative Paris-Saclay Mega University Human Capital Innovation Seattle-Tsinghua Global Innovation Exchange NYC Cornell Tech ©GREATER WASHINGTON PARTNERSHIP. All rights reserved.

Achieving our full potential by focusing on results and measuring our progress Three indicators of our region’s performance Comparison to U.S. Large Metro Regions1 Dynamism Is the Capital Region a dynamic, inventive environment where small and young firms can thrive, grow, and hire? Opportunity Is the Capital Region creating an economy where growth lifts all boats and hard work means opportunity? Place Do individuals consistently choose the Capital Region as a place to live, work and raise a family? 1. U.S. Large Metro Regions includes the twenty largest CSAs/MSAs by GDP with two additional MSAs added based on population and industry mix; 2. Measured in 2014, latest available full-year data; 3. Measured 2011-2015 for 5-year performance; 4. Measured over last full-year data (2015-2016) Source: Moody’s, Gallup, McKinsey Analysis ©GREATER WASHINGTON PARTNERSHIP. All rights reserved.

Thank you info@greaterwashingtonpartnership.com 202.765.2024