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InDC Economic Trendsetters: DC Economic Development Outlook March 25, 2011

InDC Economic Trendsetters: DC Economic Development Outlook March 25, 2011. Harriet Tregoning, Director. DC is no longer a government town. Total DC Jobs (000’s): 728.3 Private Sector : 479.4 ( 65.8%) Government Sector 248.9 (34.2%)

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InDC Economic Trendsetters: DC Economic Development Outlook March 25, 2011

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  1. InDC Economic Trendsetters:DC Economic Development OutlookMarch 25, 2011 Harriet Tregoning, Director

  2. DC is no longer a government town Total DC Jobs (000’s): 728.3 • Private Sector: 479.4 (65.8%) • Government Sector 248.9 (34.2%) Eds and Meds: second largest source of DC private sector jobs: #1: Prof/Business services 159.3 (21.9%) #2: Education & health 111.1 (15.3%) Source: Louis Dreyfus Property Group

  3. Eds and Meds: Top Employers in DC • Georgetown University • The George Washington University • Washington Hospital Center • Children's National Medical Center • Howard University • Georgetown University Hospital • American University • Fannie Mae • Catholic University of America • Providence Hospital • Howard University Hospital • Sibley Memorial Hospital • George Washington University Hospital

  4. DC’s Eds & Meds: Where do their employees live? • DC Hospitalsemploy over 25,000 people from the region • 23 % of these employees live in DC Source: DC Hospital Association, 2005

  5. Meds: What kinds of jobs? Hospital Jobs: • 28%: registered nurses • 21% service occupations • large numbers of office & administrative support workers All Healthcare sector jobs: 32%: service occupations 44%: professional occupations 18%: office and administrative support 4%: management, business, and financial operations

  6. Eds: What kinds of jobs? • 67 % are professional and related occupations • Other Types of Jobs: • Management, business, and financial occupations (6%) • Service occupations—food preparation and serving, building cleaning, child care (11%) • Administrative and office support occupations (11%) • Installation, maintenance, and repair occupations (1%)

  7. Regional tech snapshot • Highest concentration of technologists (computer and math scientists, computer software engineers and network systems analysts) in country • Second only to Boston for information and communication technology degree production • Robust innovation infrastructure, including key research and development institutions • Region receives $21 billion in federal R & D spending • Leader in capturing R & D funding but lags in patent production and commercialization

  8. DC’s Changing Entrepreneurial Base… 9 • DC named as #1 city for young professionals and #3 for entrepreneurs • 75,000 creative jobs generating $5bn income annually • Twenty-three universities and several hundred research institutions leading innovation • 47% DC residents have college or post-graduate experience • 81% have access to internet • Influx of young professionals attracted to vibrant neighborhoods, with an increase of 10.8% of 25-34 year olds between 2000 and 2009 • Development of residential products that suit young professionals, mixed use

  9. 13,000 tweets by 2434 people • 10 day digital arts and technology festival • Almost 6,000 registrants • Entrepreneurship and business start-up focus • Pop-up Digital Arts and Technology Lab

  10. Growing entrepreneurs & neighborhood businesses • Creative DC Action Agenda • Retail Action Strategy, pop-up retail • Actionomics [DC]

  11. DC Week:Raising the profile of DC’s tech community actionomics [dc]: Digital Capital Week

  12. Future entrepreneurship: factors for a favorable environment • Wealth of talent in city and region • Availability of infill and 2nd floor space in established and emerging neighborhoods • Underleveraged business to business and VC opportunities • Increasing support infrastructure, e.g. Net2000 incentive, Digital Capital Week • However.. • Lack of incubation, commercialization and tech transfer activities • Limited affordable space for start-ups in sought-after creative neighborhoods • High capital gains tax compared to region

  13. Anchoring Future Tech Growth – St Es Innovation Hub • DC firms captured largest share DHS tech procurement in region • Large firms specialize in computer systems and integration

  14. St Es Innovation Strategy ‘Drivers’ • Federal grant to support local innovation strategy in tandem with regional • Strategy led by OP and DMPED, in collaboration with agency partners assistance from industry experts, input from public and private sector

  15. For more information Harriet Tregoning Director District of Columbia Office of Planning 1100 4th St. SW, Suite 650E Washington DC 20024 202-442-7600 harriet.tregoning@dc.gov www.planning.dc.gov

  16. Appendix: DC Hospital Employees State of Residence Note: Calculations exclude Greater Southeast Community Hospital Specialty Hospital of Washington, psychiatric and federal hospitals. Source: 2005 DCHA Financial Indicators Survey.

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