A Creative Crossroads
No more a quaint government town with a reputation for Southern sleepiness,
today's Washington is a booming, far-flung region that's a key node in what I call
Graphic How Washington RanksNo more a quaint government town with a reputation for Southern sleepiness, today's Washington is a booming, far-flung region.   |
the Creative Economy. Now if it could just act like a grown-up metropolis.
The region's economy is riding high . . .
The Greater Washington region is already one of the largest economic units in the world, cranking out nearly $80 billion in annual output. That makes it the sixth-largest regional economy in the world, bigger than London or Seoul .
It has everything it takes to be a major global player . . .
Washington has become a hub of the Creative Economy, which spans science and technology, the arts, culture and entertainment, as well as medicine, finance and law. Today, about 40 million Americans are employed in this rapidly growing sector, which pumps more than $2 trillion in wages and salaries into the economy. Greater Washington is a standout on all three factors driving the Creative Economy.
TECHNOLOGY
Even longtime residents are often surprised to learn that the biggest sector in the local economy is not government, but technology. The region is second only to San Jose in high-tech electronics industries and ranks third in total software employment. It's a player in the biotech industry, and a growing media center.
TALENT
Home to 1.2 million creative workers, Washington boasts the largest creative class concentration -- 40 percent of the workforce -- in the country. It's first in the percentage of people with advanced degrees, and first in the number of scientists and engineers, with double the number of those in Silicon Valley.
TOLERANCE
Open and diverse, the region has long been a bastion of great black thinkers, writers, musicians and business people. It's a lure for recent college graduates and young singles; 25- to 34-year-olds make up 15 percent of the population. New immigrants are flocking to outlying suburbs in Montgomery, Arlington and Fairfax counties.
. . . and people love it here.
CULTURE
