|
Contact: Alan Fogg, afogg@fceda.org,
703-790-0600 (office); 571-213-5065 (mobile)
Fairfax County companies capture almost $11.4 billion in federal contracts in fiscal 2004
Fairfax total is 22.8 percent of Washington-area total
Fairfax County, Virginia USA, June 30, 2005 Companies doing business in Fairfax County won almost $11.4 billion in federal contracts in fiscal 2004, a 17.6 percent increase over fiscal 2003, reports a study issued today by the George Mason University Center for Regional Analysis (CRA). The Fairfax County total is 22.8 percent of the $50.0 billion in contracts won by companies in the Washington, D.C., area in fiscal 2004.
Companies in northern Virginia, which includes Fairfax County, won 71 percent of the Defense Department contracting in the region and 32 percent of non-Defense Department contracting, said Stephen S. Fuller, Ph.D., director of the CRA, at a breakfast briefing at the Tower Club in Tysons Corner, Virginia.
The CRA study analyzed the impact of federal procurement on the Washington-area economy. CRA conducted the study for First Horizon Bank. Fiscal year 2004 is the most recent data available.
Federal procurement in the Washington area increased 18.4 percent over fiscal 2003 totals, Dr. Fuller said. Federal contracting accounted for 16.9 percent of the Washington region’s Gross Regional Product of $295.0 billion and is a major reason the Washington area has led other U.S. metropolitan areas in job growth, he said.
“In record amounts of contracting dollars, businesses in Fairfax County continue to provide the high-quality goods and services that the government needs, and locating here near the nation’s capital gives companies a leg up on winning federal business over companies based elsewhere,” said Gerald L. Gordon, Ph.D., president and CEO of the FCEDA.
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 Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org), which has been recognized by Site Selection magazine as one of the top economic development groups in the U.S., promotes Fairfax County as a business and technology center. The FCEDA assists businesses by identifying possible sites and facilities, and provides demographic and economic statistics. The FCEDA’s Capital Attraction Program links technology entrepreneurs with potential investors, and another program supports the growth of small and minority-owned companies. The FCEDA maintains overseas offices in Bangalore, Frankfurt, London, Seoul and Tel Aviv.
# # #
| 
