1. 1 Economic Trends and Commercial Construction Indicators for Metropolitan Washington Cooperative Forecasting and Data Subcommittee September 11, 2007 Department of Human Services, Planning and Public Safety

2. 2 Economic Trends in Metropolitan Washington 2002 – 2006 Population Employment Labor Force Construction Mortgage Rates, Home Sales, and Housing- Related Inflation Inflation Income Retail Sales Airline Passengers

3. 3 Economic Trends 2002 – 2006 Population Change in the Washington Region

4. 4 Economic Trends 2002 – 2006 Forecast 2005 to 2030 Population Growth

5. 5 Economic Trends 2002 – 2006 At-Place Employment in the Washington Region

6. 6 Economic Trends 2002 – 2006 Forecast 2005 to 2030 Job Growth

7. 7 Economic Trends 2002 – 2006 Annual Unemployment Rate

8. 8 Economic Trends 2002 - 2006 Net Home Sales in the Washington Region

9. 9 Economic Trends 2002 - 2006 Housing Units Authorized in the Washington Region

10. 10 Economic Trends 2002 - 2006 Federal Expenditures by Category, FY04

11. 11 Commercial Construction Indicators 2006 519 Projects 33.9 Million Square Feet $5.8 Billion Estimated Value

12. 12 Commercial Construction Starts 1980 to 2006 Total Square Feet

13. 13 Suburban Maryland: 10.4 million ft 2 Northern Virginia: 17 million ft 2 District of Columbia: 6.5 million ft 2 City of Frederick Size of Commercial Projects Started in 2006 500,000 - 1,100,000 square feet 250,000 - 499,999 square feet 50,000 - 249,999 square feet 400 - 49,999 square feet Commercial Construction Projects in the Washington Region in 2006

14. 14 9.4 Million Square Feet (28% of region’s total) in Metrorail Station Areas 19.5 Million Square Feet (57.5% of region’s total) in Activity Centers 2006 Commercial Construction Projects in Regional Activity Centers and Clusters

15. 15 Economic Trends in Metropolitan Washington 2002 to 2006 Inflation – fuel and housing costs; interest rates; and foreclosure rates Real Estate – “slowing” of residential market, but strong commercial real estate market Federal presence – Federal procurement, BRAC and security-related location decisions Trends to watch in 2007 and 2008: