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Washington, Dc International Business Guide WASHINGTON, DC INTERNATIONAL BUSINESS GUIDE Contents 1 Welcome Letter — Mayor Muriel Bowser 3 Introduction 5 Why Washington, DC? 6 A Powerful Economy Infographic 8 Awards and Recognition 9 Washington, DC — Demographics 11 Washington, DC — Economy 12 Federal Government 12 Retail and Federal Contractors Real Estate and Construction 13 12 Professional and Business Services 13 Higher Education and Healthcare 12 Technology and Innovation 13 Creative Economy 12 Hospitality and Tourism 15 Washington, DC — An Obvious Choice For International Companies 16 The District — Map 19 Washington, DC — Wards 25 Establishing A Business in Washington, DC 25 Business Registration 27 Office Space 27 Permits And Licenses 27 Business And Professional Services 27 Finding Talent 27 Small Business Services 27 Taxes 27 Employment-related Visas 29 Business Resources 31 Business Incentives and Assistance 32 DC Government by the Letter / Acknowledgements D C C H A M B E R O F C O M M E R C E Dear Investor, Washington, DC, is a thriving, global marketplace. Over the past decade, we have experienced significant growth and transformation. The District of Columbia has one of the most educated workforces in the country, stable economic growth, an established research community, and a business-friendly government. I am proud to present you with the Washington, DC International Business Guide. This book contains relevant information for foreign firms interested in establishing a presence in our nation’s capital. In these pages, you will find background on our strongest business sectors, economic indicators, and foreign direct investment trends. In addition, there are a number of suggested steps as you consider bringing your business to DC. Washington, DC, is on the cutting edge of innovation for companies that operate in the District. My Administration is implementing solutions that lessen bureaucracy and increase efficiency, such as reduced business registration times, enhanced tax incentives for specific sectors, and streamlined contract processes. This kind of adaptation is what the business community expects and experiences in our city. Simply put, we are a good place to do business. As you look for your next overseas investment, I hope you will take a close look at Washington, DC. We look forward to having you join our great city. Sincerely, Muriel Bowser Mayor W A S H I N G T O N , D C I N T E R N A T I O N A L B U S I N E S S G U I D E 1 2 D C C H A M B E R O F C O M M E R C E Introduction Washington, DC, has many faces. While stands alone as a city with its own stature Timeless it is the home to the U.S. government, it and power. Governed by its Mayor and is remarkably international with ap- City Council, the District’s fortunes are yet modern, proximately 180 resident embassies and intertwined with the Federal Govern- respected global economic and policy ment yet they are unencumbered by Washington, DC, organizations. Some 90,000 DC residents the layers of bureaucracy that define or 15 percent of the population speak the states around them. The District is is a magnetic more than a dozen different agile in responding to opportunity within languages. The Greater Washington its borders and regionally, and there is region is home to 400 international less bureaucracy in moving projects and place drawing associations and 1,000 internationally incentives through the system. owned companies. tourists who As of 2014, the population of the District Washington, DC, formally known as exceeds 650,000, and another half a mil- seek to visit the the District of Columbia and frequently lion commuters come in daily from Mary- referred to as the District, is a cultural land and Virginia, bringing its weekday monuments, phenomenon, featuring some of the population to well over a million people. world’s finest museums, theaters, and The District is served by three interna- entrepreneurs arts companies. DC is also home to eight tional airports, an expansive subway and major professional sports teams It is bus system that serves the metropolitan small in size, but large in influence. area, and the national highway system. looking to build The District was established in the The District has identified the diversifica- businesses and Constitution of the United States for tion of its economy as one of its highest the express purpose of housing the priorities, and that is one of the central families hoping three branches of U.S. government— reasons it seeks to encourage more the Executive, Legislative, and Judicial. foreign direct investment (FDI) in the city. for a fresh start The President of the United States In 2015 the Washington region ranked as resides in Washington, and it also hosts the second-best place to build wealth, and a new life. the U.S. Supreme Court and the U.S. out of the United States’ 18 largest metro Congress. George Washington, the first areas, and it ranked No. 1 for savable president and namesake of the city, income, a financial ranking source noted. Washington is considered one of the chose the site between the Potomac By fostering investment from overseas, most accessible and welcoming of U.S. and Anacostia rivers. the city hopes to accelerate technological cities, with its low-profile skyline and innovation, job creation, capital forma- with a lifestyle and culture that are the Washington is unique in the United tion, and economic diversification to build envy of other world capitals. States not just for its prominence, but a stronger and more globalized economy. also for its local government. The District W A S H I N G T O N , D C I N T E R N A T I O N A L B U S I N E S S G U I D E 3 4 D C C H A M B E R O F C O M M E R C E Why Washington, DC? percentage of college graduates, politics, the environment, and peace. If Washington, DC, according to the U.S. Census Bureau. your business is seeking international More than 100 academic institutions impact, this is the place for you. is a thriving operate programs and degrees in this region. The fourteen institutions in marketplace for the area are ranked internationally: Georgetown University, The University ideas, innovation, of Maryland College Park, The George Washington University, The University of the District of Columbia, Howard and invention. University, American University, Marriott Marquis (Ward 2) Gallaudet University, and more. These institutions attract, educate, and Designed to reflect its surroundings Fifteen of the Fortune 500 companies help retain exceptional talent. If your and complement the adjacent Walter E. call this region home, and they represent business is looking for highly educated Washington Convention Center, the 1.1 a variety of industries from international employees and leaders, this is the million-square-foot Marriott Marquis hospitality with Hilton Worldwide and place for you. Marriott International to finance with opened its doors in May 2014. With 1,175 rooms, the Marriott Marquis serves Capitol One and Fannie Mae. The region Washington, DC, is a hub for thought as the headquarters hotel for many is home to engineering and defense leadership and global policy makers. meetings and conferences, and guests giants with General Dynamics, Lockheed Organizations such as the World Bank, enjoy direct access to the convention Martin, and the Computer Sciences the International Monetary Fund, center via an underground concourse. Corporation, as well as technology firms the Organization of American States, The hotel is conveniently located near like Advisory Board, and Blackboard. If the Inter-American Development Penn Quarter, CityCenterDC and the your business is looking for opportunity, Bank, and the Carnegie Endowment Verizon Center. The project’s estimated this is the place for you. for International Peace consider value is $520 million, with some $5 Washington, DC, as a focal point for million in foreign direct investment. Among U.S. metropolitan areas, the critical international conversations Washington, DC, region has the highest about the world economy, global W A S H I N G T O N , D C I N T E R N A T I O N A L B U S I N E S S G U I D E 5 DC Vital Stats DC GDP by Sector Real estate investment sales: Population: 658,890 in 2014, in 2014, up 9.5 percent from 2010. $6 billion up from $4.7 billion in 2013. WASHINGTON, DC Per capita personal income: Foreign born: 13.8 percent, $75,329 in 2013, compared to 12.9 percent nationally. 38,292 27,623 13,684 8,860 A POWERFUL the highest in the nation. Government Professional Finances, Educational Bachelor’s degree or higher, and business insurance, real services, health services estate, rental care, and social Households: 263,649, and age 25 or higher: and leasing assistance ECONOMY 2,133,062 in the metro area. 52.4 percent, compared to 28.8 percent nationally. Gross Domestic Product: $115.2 billion 7,689 7,447 4,385 5,381 in current dollars. Information Other services, Arts, Other except entertainment, Source: U.S. Census Bureau, Bureau of Economic Affairs government recreation, accommodation, and food services Source: Bureau of Economic Analysis 5 Largest U.S. Metro Areas by GDP In millions of dollars 2013 Educational Attainment of DC Population 2012 1. New York–Northern New Jersey–Long Island, NY–NJ–PA $1,471,170 Graduate degree 133,632 2. Los Angeles–Long Beach–Santa Ana, CA $826,826 Bachelor's degree 119,301 3. Chicago–Joliet–Naperville, IL–IN–WI $590,248 Some college 95,119 4.
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