CEO Guide to Site Selection

Washington, D.C.

CAPITAL IMPROVEMENTS

Mayor Muriel Bowser announced the FY2022 Fair Shot Budget to provide relief, recovery and growth for residents and businesses that have been hit the hardest. Investments include an additional 12,000 affordable housing units by 2025, greater equity in food access, rent and fee relief for small businesses, and downtown revitalization efforts. Meanwhile, across the Potomac River, Fairfax County is now home to 128 of the Inc. 5000 list of the country’s fastest-growing companies. Micro- soft, StarKist, Guidehouse and Intact Technology have announced projects in the metro area in the past year.

“We were fortunate to go into the pandemic with a strong economic foundation, and now we’re making the necessary investments to support a strong recovery and give residents and businesses hit hardest their fair shot. These investments will create jobs, connect Washingtonians to opportunity and help us build a more equitable DC.”
Muriel Bowser
Mayor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

N/A

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Qualified High-Tech Companies (QHTC): Offers tax credits to high-tech companies for training and wages paid to disadvantaged employees. Also offers sales and use tax exemptions and a reduced corporate franchise tax rate.

Creative and Open Space Modernization Grant (DC): Offers a tax rebate of up to the lesser of 10% of the total value of qualified improvements or $1 million for QHTCs that renovate or improve their offices.

Business/Professional/Occupational Licenses (BPOL) Tax Exemption (Fairfax County, Virginia): Offers exclusions and adjustments to BPOL taxes for software development companies and government computer hardware and software sellers.

Virginia Jobs Investment Program: Offers variable in- centives for job creation for manufacturers, distribution centers, headquarters, inbound call centers, business IT and R&D.

EDCs

Washington DC Economic Partnership / wdcep.com

DC Economic Strategy / dceconomicstrategy.com

Office of the Deputy Mayor for Planning and Economic Development / dmped.dc.gov

HIGHLIGHTED PROGRAM OR INITIATIVE

The Washington DC Economic Partnership has released its DC Doing Business Guide, a “how to” manual that provides a step-by-step guide for entrepreneurs on how to start a new business, expand an existing business and connect with resources to help adapt their businesses to the current business climate.

BIG DEALS

  • Microsoft announced in May 2020 a $64 million R&D hub and 1,500 new jobs in Fairfax County.
  • Global law firm King & Spalding announced in June 2020 it would locate a new worldwide office in Tysons.
  • Kreative Technologies announced in February 2021 an expansion and 296 new jobs in Fairfax County.
  • Guidehouse announced in May 2021 it will establish its global headquarters and create 900 new jobs in Fairfax County.
  • StarKist announced in June 2021 it will relocate its head- quarters to Fairfax County and create 83 new jobs.
  • Bureau of Land Management announced in September 2021 it would relocate its headquarters back to Wash- ington, D.C.
  • Intact Technology announced in October 2021 a head- quarters expansion and 40 new jobs in Fairfax County.

BIG COMPANIES

Four Fortune 500 companies headquartered in Washington, D.C.:

  • Fannie Mae 
  • Danaher 
  • Carlyle Group
  • FTI Consulting

 

11 Fortune 500 companies headquartered in Fairfax County, Virginia, including:

  • Freddie Mac
  • General Dynamics
  • Northrop Grumman
  • Capital One Financial
  • DXC Technology