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%)

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

Eds and Meds: Top Employers in DC1. Georgetown University

2. The George Washington University

3. Washington Hospital Center

4. Children's National Medical Center

5. Howard University

6. Georgetown University Hospital

7. American University

8. Fannie Mae

9. Catholic University of America

10.Providence Hospital

11. Howard University Hospital

12.Sibley Memorial Hospital

13.George Washington University Hospital

4

DC’s Eds & Meds: Where do their employees live?

• DC Hospitals employ over 25,000 people from the region

• 23 % of these employees live in DC

Source: DC Hospital Association, 2005

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

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%)

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

9

DC’s Changing Entrepreneurial Base… • 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

• 10 day digital arts and technology festival

• Almost 6,000 registrants • Entrepreneurship and business

start-up focus • Pop-up Digital Arts and Technology

Lab

13,000 tweets by 2434 people

Growing entrepreneurs & neighborhood businesses

• Creative DC Action Agenda• Retail Action Strategy, pop-up

retail• Actionomics [DC]

actionomics [dc]: Digital Capital Week

DC Week: Raising the profile of DC’s tech community

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

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

St Es Innovation Strategy ‘Drivers’

Workforce development• Context: 14,000 jobs at new DHS

headquarters; growth in occupations

e.g. compliance, tech• Connect DC residents, particularly

Wards 7 and 8, to range of DHS jobs • Align workforce service providers

training with employers’ needs• Help match existing skills to

upcoming jobs

Business development• Context: $14 billion annual

procurement activity; few top

contractors in DC • Help DC firms and entrepreneurs

benefit from innovation economy with

access to investment capital and

procurement• Attract and grow new HS firms• Link new anchor employers with local

firms

Real estate & support infrastructure• Context: Unique campus-like buildings

on East Campus in need of major

renovations and upgrades • Build facilities and infrastructure to

support innovation hub• Housing strategy, e.g. Live Near Your

Work

Education• Context: 300+ security-related

programs• Explore potential for education

programs at St Es• Attract Higher Ed partners to tap

innovation hub potential• Create professional linkages between

students and St. E’s• Identify roles for St. E’s in DC’s pre-K

to 24 strategy

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

For more information

Harriet TregoningDirectorDistrict of Columbia Office of Planning1100 4th St. SW, Suite 650EWashington DC 20024202-442-7600harriet.tregoning@dc.govwww.planning.dc.gov

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.

Percentage of District Hospital Employees Residing in D.C., Maryland and Virginia

District of Columbia

Maryland Virginia Other

Children’s National Medical Center 24.82% 60.03% 14.47% 0.69% George Washington University Hospital 21.16% 49.35% 29.29% 0.19% Georgetown University Hospital 24.90% 42.56% 31.12% 1.43% Howard University Hospital 28.98% 63.04% 7.87% 0.11% National Rehabilitation Hospital 16.01% 71.19% 12.79% 0.00% Providence Hospital 25.21% 67.70% 6.24% 0.85% SHW-Hadley Memorial Hospital 24.80% 69.07% 6.13% 0.00% Sibley Memorial Hospital 22.02% 56.24% 21.59% 0.14% Washington Hospital Center 21.50% 66.48% 11.38% 0.65%