From the Governor
“As Washington, D.C. continues to grow, we remain committed to exploring innovative approaches to mobility, connecting residents to job opportunities in our thriving technology scene and building a safer, stronger D.C.” —Mayor Muriel Bowser
Big Growth in the Metro Area
The Washington, D.C. metro area continues to ex- pand, with some surveys ranking it among the top in the nation. Tech remains a prime growth area. Ford announced it will test autonomous vehicles in the city, and cybersecurity company Excivity is expanding in Fairfax County. Betchtel and Arconic are both preparing to relocate their headquarters to the region.
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 reduction of the 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 incentives for job creation for manufacturers, distribution centers, headquarters, inbound call centers, business IT and R&D.
Washington, D.C. Economic Partnership: wdcep.com
Fairfax County Economic Development Authority: fairfaxcountyeda.org
D.C. Economic Strategy: dceconomicstrategy.com
Office of the Deputy Mayor for Planning and Economic Development: dmped.dc.gov
Highlighted Program or Initiative
The Inclusive Innovation Fund invests in and supports early-stage businesses in D.C. represented by people of color, women, LGTBQ people and those with
disabilities. It invests in pre-seed, seed and pre-series A stage companies with at least 51% ownership by the designated classes.
- Fortune 500 company Arconic announced in April 2018 it will relocate its headquarters from New York City to Fairfax County.
- Bechtel announced in June 2018 it will move its head- quarters to Fairfax County by the end of 2018 and create
150 new jobs in the region.
- Cyberscurity technology firm Excivity announced in July 2018 an expansion that will create 45 new jobs in Fairfax County.
- Audit, tax and advisory firm KPMG announced in October 2018 a $30 million expansion in Fairfax County and 500 new jobs.
- Ford announced in October 2018 it will construct a base of operations to test self-driving vehicles in Washington, D.C.
- BAE Systems announced in October 2018 it will move its headquarters and 350 jobs to Fairfax County.
15 Fortune 500 companies are headquartered in the Washington, D.C. region, including:
Freddie Mac General
Hilton Worldwide Holdings
Booz Allen Hamilton
“We’re committed to Fairfax County and are excited about the growth that we’re seeing here in world-class innovation and leading-edge technology two areas that align with our own core services and strategic approach.” —Jerry Carlson, Managing Partner, KPMG
“Fairfax County is a world-class location for Arconic’s global headquarters…. We look forward to benefiting from the location’s proximity to customers, talent and transportation hubs.” —Chip Blankenship, CEO, Arconic
“Fairfax County and the surrounding areas are a hub for companies performing mission-centric work focused on cybersecurity and unique security technologies…. We maintain our footprint in this area because of the talent pool, along with easy access to the Dulles corridor and the airport for travel to support our clients.” —Matthew Ramsey, President and CEO, Excivity