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Contact: Alan Fogg, Director, Communications,
afogg@fceda.org, 703-790-0600 (o) or 571-213-5065 (m)
Census Bureau reports 34.7 percent increase in Asian-owned firms in Fairfax County
Fairfax has most firms in D.C. area and Virginia
Fairfax County, Virginia USA, May 16, 2006 - The U.S. Census Bureau reported today that 14,313 Asian-owned businesses operated in Fairfax County in 2002, a 34.7 percent increase since 1997 when the last count was taken. The Fairfax County increase is larger than the 24 percent national increase noted by the Census Bureau.
Fairfax County, minutes from Washington, D.C., accounts for about 47 percent of all the Asian-owned businesses in Virginia and 35.6 percent of the Asian-owned businesses in the Washington area. Fairfax County has more Asian-owned firms than any other locality in the Washington area and Virginia, and more of these businesses than 37 states.
“Entrepreneurship in our Indian, Korean and Vietnamese communities is particularly strong and is the reason why the number of Asian-owned businesses are higher here than in so many states,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “The numbers show yet again that Fairfax is a top business location for anyone of any background. Diversity is a tremendous strength for our business community and the community at large.”
The Census Bureau found that 11,455 of Fairfax County’s Asian-owned firms are sole proprietorships. Asian-owned firms in Fairfax County with employee payrolls totaled 2,858.
The 2002 Economic Census also found that Asian-owned firms in Fairfax County:
- employed 25,075 people in 2002, up 49 percent since 1997;
- had $2.7 billion in sales and receipts;
- had payrolls totaling more than $922 million.
Business growth helps Fairfax County fund public services such as a top-ranked public school system and library, public safety, social services and park systems that improve the quality of life. Fairfax County offers diverse real estate options, access to domestic and international markets through Washington Dulles International Airport, a business community based on technology and professional services, and a well-educated workforce.
About the FCEDA (www.FairfaxCountyEDA.org)
The Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA assists businesses by identifying possible sites and facilities, and is a source for up-to-date demographic and economic information. The FCEDA’s Capital Attraction Program links technology entrepreneurs with potential investors. Another program supports the growth of minority and woman-owned businesses. The FCEDA maintains overseas marketing offices in Bangalore, Frankfurt, London, Seoul and Tel Aviv.
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