On Washington, Dcs Slow But Sure Rise As An East Coast Economic Hub
Washington, DC, the nations capital, is fast becoming a major business hub in the East Coast
. A distinction long held by the likes of New York City and Miami, Washington is catching up quickly, thanks to the aggressive effort being made by local government and business leaders in the DC area. The DC area was recognized in 2006 by a well-known business magazine as one of the top ten places in the United States that were favorable to business expansion.Although the Federal Government remains the biggest economic entity, DC area officials believe that more private enterprises should set up shop in the region. Washington and its environs are already serving as home to private businesses, some of which even made it into the prestigious Fortune 500 and Fortune 1000 lists. Apparently, that figure is not enough for the regions leaders.
Diversifying Washingtons economy from one that is dependent on the Federal Government towards being a mix of both public and private economic activity is vital for the region. The establishment of private businesses in the DC area will help cushion the effects of the recent economic downturn to the region. It will also help enhance the image of Washington as a region that welcomes capitalism with open arms.
So far, the effort of local officials to attract businesses to the DC area is working. The demand for office space in Dulles VA and other DC area communities is at an all-time high. New and expanding businesses that are engaged in fields such as biotechnology, research, science and technology and media are now calling Washington their home.
The DC area economy is benefiting from the influx of businesses into the region. Real estate developers are earning well, thanks to demand for office space in Dulles VA in other key communities within the DC area. Inner Washington city sections that were once neglected have now been revitalized as businesses now considering putting their operations there.
Washington and other communities within the DC area are now gearing up towards becoming an economic power in the East Coast. The increase in the demand for office space in Dulles VA and other places in the DC area, the revitalization of once neglected communities in Washington and the increasing number of businesses that are moving to do business in the capital are proof that Washingtonians are slowly but surely realizing their goal.
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