subject: Washington, Dc: On Its Way Towards Becoming A Business Center [print this page] Washington, DC, the nations capital, is a vibrant, cosmopolitan city. Sitting on the north bank of the Potomac River, Washington, along with its suburbs in Maryland and in Virginia, serve as the home for much of the operations of the branches, units and agencies of the Federal Government. The DC area is also home to some of the international organizations such as the International Monetary Fund (IMF) and the World Bank.
What many people do not know about Washington and the rest of the DC area is that it is also a fast-rising business location. The DC area is home to a lot of businesses that are either dealing directly or indirectly with the government or those engaged in other business areas like biotechnology, science and engineering, research and media. Some of these businesses even made it to the prestigious Fortune 500 and Fortune 1000 listings.
In 2006, Expansion Magazine recognized Washington as one of the top ten places in the United States that are favorable to business expansion. The DC area is also one of the most dynamic real estate markets in the country. Proof of this is the consistent launching of new projects to accommodate the growing demands of both residential and commercial users.
With the growing tide of businesses that are coming or expanding in Washington, the value of real estate in the city is appreciating. For instance, a typical office space in Tysons VA used to lag behind those from other cities in the East Coast, but the growing influx of businesses in Tysons VA and other places in the DC area resulted to a relative increase in property value.
Fortunately for entrepreneurs, the value of an office space in Tysons VA and other business spaces in the DC area remain affordable. This is one of the advantages of doing business in the Washington Metropolitan Area:great city, affordable living standards, reasonably priced real estate.
With business coming in and the value of office space in Tysons VA and other properties in the region appreciating, Washington is starting to catch up with its bigger East Coast sisters like New York, Boston and Miami. Going beyond its identity as the hub of the Federal Government, Washington is slowly becoming a diversified community. Sooner or later, the DC area will attain the status it wishes to have: a home to both government and private businesses.
