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.
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:
- DC Biz Cap programs
- Work Opportunity Tax Credit,
- On the Job Training and Apprenticeship ProgramsExport DC
- DC China Center
- Procurement Technical Assistance Center
- Qualified High Technology Company tax incentives
- Open and Creative Space Modernization Tax Rebate
- Visit incentives.dc.gov a searchable database of all incentives and other District support programs
Learn more about professional services innovation in DC in the 2017 DC Economic Strategy Report.
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