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Economic Development Overview March, 2013 ________________________________________ Jeffrey A. Kaczmarek Executive Direct

Economic Development Overview March, 2013 ________________________________________ Jeffrey A. Kaczmarek Executive Director Prince William County Economic Development. PWC Snapshot. Population / Workforce Population: 415,912 (Dec. 2012) Labor force: 234,017 (Dec . 2012)

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Economic Development Overview March, 2013 ________________________________________ Jeffrey A. Kaczmarek Executive Direct

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  1. Economic Development Overview March, 2013 ________________________________________ Jeffrey A. Kaczmarek Executive Director Prince William County Economic Development

  2. PWC Snapshot • Population / Workforce • Population: 415,912 (Dec. 2012) • Labor force: 234,017 (Dec. 2012) • At-place employment: 112,988 • Unemployment : 4.5% (Dec. 2012) • Median Household Income: $95,513 • Adults w/ College Degree: 45% • 10-Year Growth Trends • Avg. of 2,500 jobs added annually • 45% business growth • 25% at-place job growth • 30% growth in avg. weekly wages • 59% growth in CREinventory • $2.5b in announced investment Boston Detroit New York Chicago Pittsburgh 800 mi 600 mi 400 mi 200 mi Atlanta Growth trends for Q3, 2012 over Q3 2002 Dulles Intl. Airport Prince William County Washington, DC |2|

  3. Strategic Plan Charge • Strategic Plan Charge • Attract Capital Investmentto diversify the economic base, ease the residential tax burden and catalyze economic growth. • Attract High-quality Jobs that match the educational and skill profile of the PWC workforce to increase at-place employment opportunities for the residents of PWC. • Board-adopted Tactics • Advance Prince William County as a Life Sciences center; • Implement next generation strategies for Innovation Technology Park in collaboration with GMU; • Strengthen relationships with key development partners; • Enhance and expand business retention efforts; • Develop a cohesive brand identity; • Leverage competitive analysis to enhance marketing strategies; • Initiate robust entrepreneurial and international outreach.

  4. DED Services • Comprehensive service delivery for non-retail commercial businesses • Retain existing businesses and assist them with expansion within the County • Promote Prince William County advantages through outreach marketing to targeted businesses, and site selection professionals • Maintain and promote comprehensive site and building database • Identify market opportunities, establish relationships with decision makers, deliver solutions, and close deals

  5. Business Proposition • Workforce Center of Northern Virginia • 75% of Northern Virginia’s 1.5 million workers are within a 30-minute one-way commute to the center of Prince William County during rush hour • Rapidly growing, highly-skilled labor force • Transportation & Accessibility • Two interstates (I-66 / I-95), HOT and HOV lane access and robust intra-county road system • 7 VRE stops on two rail lines • Quick access to Dulles International, Reagan National and Manassas Regional Airports • Federal Market Access • I-95 Corridor bookended by Marine Corps Base Quantico to the south and Ft. Belvoir to the north • Home to over 170 federal contractors • Versatile and Cost-effective Location Options • Cost competitive in the National Capital Region • Existing office, flex, industrial and data center facilities • Available large acreage sites for development

  6. Targeted Industries

  7. Targeted Industries • Information technology • Federal agencies and contractors • Biotechnology • Corporate facilities • Micro-electronics • Other high-tech industries

  8. Data Centers • Prince William Advantages • tax savings • redundant power supply • multiple fiber providers • expedited development process • targeted industry status • built-to-suit opportunities and existing data center facilities with space for lease • over 1.4 million square feet of data centers constructed in PWC since 2000 • Economic Development Announcements • 14 announcements • $2.3 billion in investment • 451 new jobs

  9. Federal Agencies & Contractors • Prince William Advantages • bookended by Marine Corps Base Quantico to the south and Ft. Belvoir to the north • access to federal faculties and prime contractors • access to employees • expedited development process • targeted industry status • Economic Development Announcements • 101 announcements • $324 million in investment • 3,655 new jobs

  10. Life Sciences & Forensics • Prince William Advantages • largest life sciences, forensics and criminal justice industry cluster in Northern Virginia • anchored by a George Mason University, the Level-3 BRL, the FBI Northern Virginia Resident Agency and the Virginia Dept. of Forensics Northern Laboratory • access to highly skilled, highly educated workforce • expedited development process • targeted industry status • Economic Development Announcements • 19 announcements • $232 million in investment • 701 new jobs

  11. Commercial Submarket Areas

  12. I-95 / Eastern PWC Submarket • Submarket Details • Market is characterized by more mature development and redevelopment opportunities. Presence of Hub Zone east of Rt.1 highly attractive to the federal contracting market. Development pattern pushing west along 234 / PW parkway. • Office: • 3.5 million SF existing • Vacant Available: 405,000 SF • Avg. Gross: $21.95 • Flex / Industrial: • 4.7 million SF existing • Vacant Available:500,000 SF • Avg. Gross: $8.92 Updated: 1/23/2013

  13. I-66 / Western PWC Submarket • Submarket Details • Market characterized by high density of flex/warehouse along Balls Ford & Wellington, we well as office, flex and R&D along the I-66 corridor and within Innovation Technology Park • Office: • Existing RBA: 3 million SF • Vacant Available: 350,000 SF • Avg. Gross: $21.22 • Flex / Industrial: • Existing RBA:11 million SF • Vacant Available:1.3 million SF • Avg. Gross: $7.79 Updated: 1/23/2013

  14. Innovation Technology Park Today BAE GSA Data Center Micron Western District Police Station VA Forensics Lab Hylton Performing Arts Center George Mason University Biomedical Research Lab Innovation Business Center ATCC GMU Student Housing ProLogic Logis-Tech Comcast Progeny FBI Northern Virginia Resident Agency RDA, NAL & PW Science Accelerayor Mediatech, a Corning Life Sciences Company Zestron Assett, Inc. Power Loft • Innovation Technology Park • 54 announced projects • 2,532 announced jobs • $706.4m in announced investment

  15. Moving Forward

  16. Current Initiatives • Life Sciences Strategy Assessment • SWOT analysis of County’s Life Sciences strategy completed late 2012 • Implementing recommendations now including Science Accelerator • Comprehensive Competitive Analysis • Need for revised evaluation of PWC’s position in the marketplace • To include detailed review of current targeted industries • Will provide actionable intelligence we need to ensure PWC is well positioned to compete for projects • New Project Tracking Processes • New processes and system for managing projects • Enhancing efficiency, accuracy and reporting capabilities • Strategic Planning • Internal review of strategies and tactics • Tied to County 2013-2016 Strategic Plan

  17. Strategic Plan Measures, 2013 - 2016 |17|

  18. Prince William County Department of Economic Development PwcEconDev.org | 703-792-5500 Follow us on Twitter @PWCDED Sign-up for our Newsletter at www.PwcEconDev.org

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