Professional Services Innovation

Washington, DC

Professional Services Innovation

The professional services industry – including consulting and research, legal services, accounting, architecture, design and administrative services – is the largest employer in the District after the federal government and supports more than 125,000 jobs (Bureau of Labor Statistics).

It is also driving innovation in DC. Companies are applying new technologies and approaches to increase productivity and improve client service and offerings.

Professional services innovation – or innovations, including technology, that augment professional services – can take different forms. In auditing, for example, machine learning and artificial intelligence are being applied to document review and analysis of financial records. In legal services, predictive analytics can be used to determine the likely outcomes of a case. In consulting, apps and enterprise software are improving consulting firms’ client services delivery. In all professional services, workflow automations are improving productivity.

Quick Facts

DC is Leading in Lawyers

DC has 9 times more lawyers per capita than New York City.

Source: Law School Tuition Bubble

#1 Most Educated Workforce in the US

According to a 2016 U.S. Census Bureau community survey, Washington, DC has the most educated metropolitan area in the country.

 

#1 Employer in DC

Professional Services companies are the largest employer in the District after the federal government, supporting more than 125,000 jobs.

Source: Bureau of Labor Statistics

Why Professional Service Companies Choose DC

Access to the US’s Most Educated Workforce

DC has the most educated workforce and the #3 tech sector in the U.S., second only to San Jose and San Francisco according to Cushman & Wakefield. The District’s talent pipelines are fueled by 15+ area universities, making it a top location for finding competitive talent.

Large Customer Base

DC’s proximity to the federal government and concentration of national associations and large institutions make it a natural home for firms that deliver innovative professional services.

Culture of Entrepreneurship

DC has many incubators and co-working spaces that support entrepreneurs in the professional services industry. Such companies include the Inclusive Innovation Incubator (In3) and 1776, which are available to support early-stage technology companies.

DC’s Global Notoriety and Brand

Foreign demand for professional services is growing. As a global city with an internationally recognizable brand, DC provides a platform for professional services firms to tap into new markets and compete on a global stage.

Resources for Professional Services Innovation Companies:

Learn more about professional services innovation in DC in the 2017 DC Economic Strategy Report.

Business Spotlight

ToSomeone

ToSomeone is based in Washington, D.C. We are proud to be a New Media Ventures portfolio company. NMV is the first seed fund and national network of angel investors supporting media and tech startups that disrupt politics and catalyze progressive change. (Couldn’t have said it better ourselves!)

WDCEP leads the #WeDC campaign, the most successful digital campaign at SXSW for two years running.

WDCEP runs DC’s presence at ICSC RECon, retail’s leading conference which brings together 30,000+ leaders in the industry.

WDCEP regularly convenes public and private DC business leaders across sectors.

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