The Economic Reinvention Of Washington, Dc
Washington, DC is the capital of the United States and a major global city
. Founded on July 16, 1790, Washington and its surrounding areas are home to 5.4 million individuals, with most of them working for the Federal Government. Washington is where the Federal Government conducts its daily business. Major international organizations also have headquarters on Washington, DC.More recently, however, Washington is rebranding itself, although not distancing much on its reputation as a center of government activity. The Federal Government is the largest single employer in the city. The Washington Metropolitan Area is currently encouraging the growth of private businesses within it in an effort to diversify its economy.
So far, the rebranding effort is working, as a lot of new businesses are starting to flock to Washington. Joining the already existing businesses within the DC area engage in the areas of biotechnology, science and engineering, research work and tourism. Washington has been ranked as one of the top ten areas in the United States that are favorable for business expansions.
For this reason, Washington DC office space is valued highly. The presence of both government and non-government entities in the DC area has proven favorable to real estate developers in the city. Some areas of the city are now being subjected to urban renewal programs to make them more attractive to businesses.
Real estate developers in the DC area are now happier than ever. The demand for DC office space from businesses and other entities are higher than ever, thanks to those who wish to have easier access to the corridors of power and the rebranding effort of the city as an ideal business location. Some of the office spaces are located close to key sites such as the United States Capitol, the White House, IMF headquarters, World Bank headquarters, and the campuses of Georgetown and George Washington universities.
The increasing demand for DC office space and the influx of businesses into the DC area have benefited a lot of residents. The citys economy, although still reeling from the effects of the recent economic downturn, is now revitalized. Washington, the nations capital, is now on its way towards reinventing itself as a great city for both government and business activities.
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