2004 Regional Report Documents Region on the Rise: Tourism and Technology Sectors Recover; Area Leads Nation in Job Growth.Business Editors WASHINGTON--(BUSINESS WIRE)--May 26, 2004 Reaffirming the strength of the Washington, DC region's economy, the Greater Washington Initiative's (GWI GWI Great Works Internet GWI Guyana Water Inc GWI General Wage Increase GWI Grinding Wheel Institute GWI Games Workshop Interactive GWI Greenhouse Warming Index GWI Greenwood International, Inc. ) 2004 Regional Report documents positive economic and demographic trends and compares the region with the nation's ten most-populated metro areas; new data compares Greater Washington to other major international cities. GWI is the regional economic development organization representing the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Northern Virginia Northern Virginia (NoVA) consists of Arlington, Fairfax, Loudoun, and Prince William counties and the independent cities of Alexandria, Falls Church, Fairfax, Manassas, and Manassas Park. and Suburban Maryland. The Regional Report is available online at GWI's newly reorganized website: www.greaterwashington.org Key factors contributing to the region's economic strength include recovery in the tourism and technology sectors, along with increased government spending Government spending or government expenditure consists of government purchases, which can be financed by seigniorage, taxes, or government borrowing. It is considered to be one of the major components of gross domestic product. on homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and defense. The Report notes that with a gain of 20,000 jobs, Greater Washington was the nation's only large metro area to gain jobs in 2003. Furthermore, over the past five years, Greater Washington out-performed all other large metro regions with an increase of 274,100 net new jobs. Other facts included in the 2004 Regional Report: -- Greater Washington's Gross Regional Product of $288 billion grew by 23.2% (inflation adjusted) over the past five years, compared to the national growth rate of 14.7%. -- Total federal procurement in Greater Washington in 2003 is expected to top $39 billion, an increase over 2002's total of $ 37.7 billion. The 2003 total represents a 74% increase in the past five years, and a 550% increase over 20 years. The Greater Washington Regional Report 2004 is available online at www.greaterwashington.org - for a printed copy, email greaterwashingtoninitiative@bot (1) (roBOT) A program used on the Internet that performs a repetitive function such as posting a message to multiple newsgroups or searching for information or news. Bots are used to provide comparison shopping. Bots also keep a channel open on the Internet Relay Chat (IRC). .org or call 202-857-5999. The Greater Washington Initiative (GWI) is the non-profit, regional economic development marketing organization created to promote the Greater Washington region as a premier business location. For more information, visit www.greaterwashington.org. GWI is an affiliate of the Greater Washington Board of Trade The Greater Washington Board of Trade is a network of business and non-profit leaders in Washington, D.C. From modest beginnings in 1889, the Greater Washington Board of Trade has grown into a powerful force for the Washington, D.C. (BOT). For more information, visit www.bot.org. |
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