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For Immediate Release
Contact: Alan Fogg, Director of Communications
afogg@fceda.org, 703-790-0600 (o) or 571-213-5065 (m)
Northern Virginia economy is nation’s hottest, U.S. Bureau of Labor Statistics reports
Fairfax County EDA assists 16 companies in first quarter that will create 995 jobs
Fairfax County, Virginia, April 26, 2004 – The U.S. Bureau of Labor Statistics (BLS) reported today that job growth in northern Virginia has been the greatest of any region in the last 12 months, with 50,000 jobs created. Only two states reported larger job creation the BLS said.
The BLS reported that the growth in northern Virginia drove the Washington, D.C., area economy, which has added more than 60,000 jobs between March 2003 and March 2004. The Washington area has a 3 percent unemployment rate, lowest of any U.S. metropolitan area. Today’s BLS release is here.
Almost 1,000 jobs – many in information technology – were or will be added to the Fairfax County economy by 16 companies that worked with the Fairfax County Economic Development Authority (FCEDA) in January, February and March. “Fairfax County’s job growth has continued as local economies around the country faltered. These companies and jobs emphasize the ongoing strength of our economy,” said Gerald L. Gordon, Ph.D., president and CEO of the FCEDA.
Typically, every new job in the primary economy spins off about two to three jobs in the secondary economy. Technology-sector jobs also typically pay higher than average salaries, which is one reason Fairfax County has the nation’s highest median household income for any locality with more than 200,000 residents, according to the U.S. Census Bureau.
Among the 16 companies that said they would relocate to or expand in Fairfax County were three that came from elsewhere in Virginia: FGM Inc., AlphaInsight and AdCom.
“Our new location in Reston provides more flexibility to expand our growing business and puts us closer to our customers that are primarily government agencies located in downtown Washington,” said Scott Gessay, founder and CEO/President of FGM, which develops software and systems to help U.S. government and international agencies, and businesses to share, track, and control critical information. “Our move helps us give our employees increased access to local amenities like restaurants and other services that support their needs. Our new location along the Dulles Toll Road also provides increased exposure for our company.”
Business growth helps Fairfax County fund public services such as the nation’s top-rated public school systems that contribute to the quality of life. Fairfax County offers businesses a state-of-the-art telecommunications infrastructure, access to domestic and international markets through Washington Dulles International Airport and a well-educated workforce.
The FCEDA (www.FairfaxCountyEDA.org) assists businesses by identifying possible sites and facilities, and is a source for up-to-date demographic and economic statistics. The FCEDA also has marketing representatives in London, Frankfurt and Tokyo, and this year will add marketing representatives in Bangalore, India, and Tel Aviv, Israel.
Among the companies working with the FCEDA in January, February and March:
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