No. 3 Washington D.C.
By Stacy Rapacon, Reporter
From Kiplinger's Personal Finance magazine, July 2009
Advertisement
TALK ABOUT STIMULUS |
NEXT >> |
Population: 5,263,322
Income Growth: 8.7%
Cost of Living Index: 138
Median Household Income: $81,163
Percentage of Workforce in Creative Class: 44%
For better or worse, the federal government is big and getting bigger. And for the Washington, D.C., area economy, that means for the better. "The government just keeps spending and adding jobs," says city spokesman Sean Madigan.
INTERACTIVE EXTRAS: | |||
 |
VIDEO: Take Our Walking Tour Through Washington | ||
|
|
SLIDE SHOW: Our 2009 Best Cities at a Glance | ||
|
|
PODCAST: How We Ranked Our Top Places | ||
|
|
TOOL: Find Your Best City | ||
Only about one in eight workers in the Washington area -- spanning D.C. proper and big chunks of adjoining Virginia and Maryland -- are employed directly by the feds. Still, the government fuels nearby companies in almost every industry, especially law firms, lobbyists, and aerospace and defense companies. For example, Lockheed Martin, the largest defense contractor, stays close to the Pentagon, providing about 23,000 jobs in Northern Virginia and metro Maryland.
High-tech industry is booming across the Potomac River. Science Applications International's sprawling campus along Northern Virginia's Dulles corridor, for example, employs about 17,500 people (and just landed about $300 million in government contracts). In Maryland, biotech firms, such as vaccine producer Emergent BioSolutions, gather around the National Institutes of Health, which is headquartered in Bethesda.
A slew of universities add both fresh faces and dollars to the local economy. More than 150,000 undergrads attend Georgetown, George Washington and Howard universities, among others.
D.C. welcomes about 16 million tourists annually. This year, tourist season kicked off early, when a certain historic Inauguration Day brought millions to the National Mall. Since then, Madigan says, the city has seen a steady stream of budget-conscious travelers taking advantage of the free Smithsonian museums and world-class monuments and memorials. "Plus, everyone wants to see where President Obama lives," he says.
Visitors come for the museums but often stay for the kaleidoscope of culture. That includes every shade of ethnic cuisine, the art scene in Dupont Circle and the music clubs of the U Street corridor. On weekends, locals and savvy visitors frequent the historic Eastern Market on Capitol Hill for fresh produce and handmade crafts.
One drawback to Washington's popularity: No matter the time, day of the week, starting point or destination, you will hit traffic. Try the Metrorail and buses instead of driving. Just remember: On Metro escalators, you stand on the right and walk on the left.
Reader Comments (3)
Posted by: GreaterDC at 05/29/2009 05:36:11 PM
DC has less than 500,000 people. Northern VA, Washington DC, and Maryland suburbs are not one city............
Posted by: Dc transit at 01/04/2010 08:52:16 PM
Do not minimize the traffic congestion that can be literally insane at some times. With only one bridge that connects MD with VA on the west side of town, the alternate routes to avoid large traffic jams is simply not possible. The Metro is limited in its access. Be prepared to spend many hours sitting, not only in unavoidable delays, but also at stop lights that are interminable at some intersections. Only the truly patient need to be on the roads in the DC area. The jobs may be here, but the trade-off that you experience in terms of time consumed on getting around might change your mind.
Posted by: Jim at 01/09/2010 10:48:53 PM
I truly love it here. A word to those considering this area though - as DC TRANSIT mentioned, the traffic situation cannot be emphasized enough. I *truly* believe the key to happiness in this area is to LIVE CLOSE TO WORK. Many people make the mistake of assuming this is like other cities and that you can buy a house 20-30 miles away from work and expect to have a 30 minute commute. Not so. If you work in DC, figure out a way to live near Metro and use that to commute. The good news too is unlike many areas, there are a TON of jobs in the suburbs. Downtown DC has many law firms, lobbying groups, think tanks, and Government positions, but most of the high tech stuff, defense contractors, etc, are out in the suburbs, especially Northern Virginia. This makes it possible to have a suburban lifestyle and still live close to work. Personally, I live 10-15 minutes from my office and couldn't be happier here. It's a world class metro, with excellent music, arts, sports, and night life. It also has an under-appreciated natural beauty, and you are close to both mountains and sea.