DC MARKET UPDATE – Q1 2020
SPRING 2020
A QUICK WORD
FROM OUR PRESIDENT AND CEO
Hello! Welcome to the Washington DC Economic Partnership’s (WDCEP) quarterly newsletter. WDCEP is a non-profit, public-private organization whose core purpose is to actively position, promote, and support economic development and business opportunities in our nation’s capital in partnership with the Office of the Deputy Mayor for Planning and Economic Development (DMPED). Over the course of the past year we had conversations with many of you where you expressed a desire to learn more about Washington, DC in a timely manner. We are launching this newsletter because we heard you and we want to inform you about the issues that you care about. This newsletter will share insights and developments on our economy & workforce, the real estate market, and transportation & infrastructure. We hope that this content will prove valuable to you, but please let us know if we can improve this resource in any way. As your trusted advisor for all things Washington, DC, we look forward to supporting you and your clients and showing you that the right choice is #ObviouslyDC. Connect with us.
—Keith J. Sellars, President & CEO of WDCEP
DC’s population of 705,749 represents an increase of 100,000+ net new residences since 2010. DC is now more populous than two U.S. states.
Workforce & Economy
Major Coalition of Employers Aim to Develop Tech Skills for Local Students
The Washington region’s top academic institutions and businesses commit to developing tech talent in the region in an effort to transform the region into a leading global hub for tech innovation. Read More
More to Know:
Real Estate + Housing
Children’s National Hospital Partners with Virginia Tech and Johnson & Johnson
Partnerships between Children’s National Hospital, Virginia Tech, and Johnson and Johnson to anchor the revitalization of the former Walter Reed medical campus. Read More
More to Know:
- The former 110-acre Walter Reed Army Medical Center campus is being reimagined into 3.5 million SF of mixed-use development via a public-private partnership
- DC became the first city in the Nation to set affordable housing goals by neighborhood
- DC is leading the nation in foreign investment in commercial real estate
Transportation & Infrastructure
Effectiveness and Usage of DC’s Public Transit Soars
With dedicated funding in place from DC, Maryland, and Virginia WMATA’s rail ridership grew 7.2% over the past year. Read More
More to Know:
- DC is leading the charge on autonomous vehicles as Uber joins Ford and Volkswagen in testing their vehicles in DC
- World class cities need world class airports – the impact of the region’s $1 billion-dollar investment in an international airport is close to being realized
DC In the News
- DC was again recognized as a top two city in the country for women working in tech due to their commitment to and effectiveness in supporting women in tech
- The Trust for Public Land named DC the number one park system in the U.S.
- The New York Times named DC as the top city in the world to visit in 2020
- DC was identified as the top city in the U.S. for improving the lives of residents through urban sustainability
- DC was named as a top city for IT professionals based on salaries, job opportunities, business environment, and livability
- House Oversight Committee passes a D.C. statehood bill