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New Economy Regional Fast Facts
2005:Digital Economy
The Potomac KnowledgeWay understands what it takes to foster growth and innovation in the Information and Communications (InfoComm) sector, and has produced a wide range of programs that increase regional competitiveness and growth. The following facts illustrate the strengths and potential of the Greater Washington Region.

  • The Greater Washington Region is more than our nation's capital – it has become one of the most exciting technology markets in the world. It is the birthplace of the Internet and home to the entire spectrum of complementary InfoComm companies.

  • The InfoComm sector has evolved because the Greater Washington Region has an unparalleled collection of resources and an exceptional quality of life.

  • InfoComm is the key driver behind regional growth and is producing more new high-paying jobs than ever before.

  • The region has become fertile ground for a large, growing entrepreneurial community because it has the right ingredients to make entrepreneurs successful.

  • The region's vast array of research and development sources provides fertile ground for new technology and products.

  • The region is the national and global hub of the Internet and communications industry.

    • Nearly 50% of all the Internet backbone is supplied by regional companies.

    • Almost 50% of online service subscribers are serviced by local companies.

    • The region ranks #2 in highest number of computers connected to the Internet.

    • Six of ten major personal communications satellite systems are headquartered in the region.

    • The region's content industry employs 33,000 people, and has $13 billion in sales.

    • Nearly 30% of the nation's Systems Integration sales are attributed to the region.

  • Since 1968, private sector growth has been responsible for 95% of new jobs.

  • Regional InfoComm jobs now outnumber Federal Government jobs (345,000 vs. 333,000).

  • Regional InfoComm companies employ 1 out of 7 workers and generate $90 billion in sales.

  • InfoComm average salaries are almost 50% higher than average earnings for all private sector jobs in the region.

  • For every InfoComm job created in the region, more than one new non-InfoComm job is created. This "multiplier" effect is greater than multipliers in any other industry sector.

  • Entrepreneurs are one of the key economic drivers of the region's New Economy. The Internet has become a major force behind the local entrepreneurial community with more than 3,000 net-based entrepreneurs located in the GWR.

  • The region has consistently had more fast-growing companies ranked in the INC. 500 list any other metro area.

  • The region is home to 44 colleges and universities, and the source of major federally funded research.
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