Doing Business in Washington DC
Washington, D.C. is a center of commerce and politics. Most people consider Washington, D.C. to be a town where the majority of individuals work for the government. However, only one out of every six workers in the locale is on the government payroll. There has been a great deal of growth in the private sector, accounting for one out of every three jobs, although many companies still rely on government contracts. The major industries in D.C. are the government and tourism. Washington has a growing diversified economy with the percentage of business and professional service jobs continuing to increase.
Washington has a number of growing industries that are unrelated to government. They include scientific research, education and finance. The government is by far the largest consumer of technological equipment and stimulates business by purchasing, researching, and grant programs. Therefore, Washington, D. C. is an attractive place for growth industries such as service industries, information firms, computer firms and telecommunication companies. Washington, D. C. is the location of top financial institutions both regional and national, as well as nearly 51 fortune 500 businesses.
There are numerous printing companies in the region to produce the enormous assortment of documents generated by the government. In addition, the city is home to over 1,100 national associations who need to have a presence in the district to attempt to shape legislation on their behalf. The city has an inventory of 100 million square feet of space for offices. The growth of Metrorail Stations, which safely transports over 600,000 customers per day throughout the district, has been the key to office development.
Washington, D.C. offers numerous financial incentives to retain and attract business. The incentives include securing affordable space, and reduced taxes on income and property. Additionally, the city provides technology companies with credits, exemptions and other benefits. A bond program that the city offers can provide low interest loans to non-profit, private enterprises and manufacturing organizations.
There are a multitude of business seminars, conferences and training workshops in a variety of categories. A main event each year is the Reinvestment Coalition Conference, which brings hundreds of community leaders, legislators and business professionals together. The conference is a premier networking and training occasion of the year. Business Exchange and the Procurement Conference are other major conferences in the region. Both conferences focus on fostering partnerships and attract thousands of professionals. The district also hosts the annual small business conference and provides valuable insight into new technologies and success factors for businesses.
A series event is the Business and Networking Reception where everyone who attends walks away with quite a few promising relationships and new contacts. At this networking event one can expect to make connections, gather new resources and have some fun. Power Lunch is a main networking event in D.C. This event is a chance to have an engaging lunch with some of the city's most respected executives where they share their experiences, pitfalls and future plans.
Coffee and Conversation has quickly become a popular business event. Friendly discussions with local business professionals take place at this event and any topic of interest may be discussed. Speed Networking is also an extremely popular event. In a format similar to speed dating attendees have a limited time to introduce who they are and what they do to their business peers. After the event attendees walk away with scores of prospects, new contacts and allies.
The Business Resource Center is a network for the District's business community. Many task associated with doing business can be accomplished from this central location. This organization is dedicated to promoting growth, innovation and the profitability of businesses in the District. Opportunities for success are enhanced through training and consulting services. Every year thousands of business managers and owners receive low cost training and free business consulting through this organization.
Washington, D.C. has small business resource centers in several locations throughout the city that can help provide information and services to help navigate the Districts' business environment. The D.C. Chamber is a major organization that proudly serves more than 1600 members. This organization is always ready to help businesses thrive and is a voice for all businesses in the city. The Chamber provides businesses with understanding and encouragement, as well as priceless networking opportunities. Another key organization in Washington, D.C. is the Business Council, which provides resources and support for civilian agencies.