NVRC Releases Report Analyzing Effects of Foreign Direct Investment in Northern Virginia
The Northern Virginia Regional Commission (NVRC), with support from the “Go Virginia Region 7 Council” and Fairfax County Economic Development Authority, Arlington County Economic Development, City of Alexandria Economic Development Partnership , Loudoun County Economic Development and Prince William County Economic Development, have completed a precedent-setting analysis about the effects of Foreign Direct Investment (FDI) within the boundaries of the City of Alexandria, Arlington, Fairfax, Loudoun and Prince William counties.
The study was conducted by S&P Global under a contract with NVRC. The study assessed all sectors except retail.
The study is the first of its kind in the Commonwealth of Virginia and the second in the United States after Los Angeles County.
The findings of the study highlight that:
- 1,252 foreign establishments in Northern Virginia employ approximately 50,879 people
- Approximately $6.8 billion in wages are annually paid into Northern Virginia’s economy from FDI
- FDI in Northern Virginia accounts for approximately 4.6% of all job creation
- Average of 40.6 employees per foreign establishment compared to 13.9 across all types of companies
- Professional, scientific and technical services account for approximately 49% of employment from FDI in Northern Virginia
The top five foreign investors in the region are (ranked by job creation):
- United Kingdom (11,980 jobs, 247 establishments)
- Germany (5,976 jobs, 101 establishments)
- Canada (4,590 jobs, 144 establishments)
- Ireland (3,986 jobs, 39 establishments)
- France (3,651 jobs, 100 establishments)
“NVRC has been pleased to work with our partners at the various economic development agencies in the region to undertake this groundbreaking study. One thing is clear, Foreign Direct Investment is an important element to the region’s economy and the report provides a clear roadmap for future economic growth and purposeful global engagement,” said the Honorable John T. Chapman, Chairman of the Northern Virginia Regional Commission and Member of the Alexandria City Council.
International business is vital to the economy of Northern Virginia and this report will help strengthen understanding of this vital dynamic. This report will be used to inform the development of more strategic searches and applications of foreign investments and innovations from overseas that can support Northern Virginia’s economic growth -especially in those job and industry sectors on which the region’s competitive advantages rest.
The NVRC looks forward to working with its local governmental partners to periodically refine this study and improve understanding about global activities in Northern Virginia. We additionally look forward to exploring ways that global engagement can be applied to benefit the region’s economy, environment and communities.
The full report can be downloaded here: https://www.novaregiondashboard.com/reports
You can view a map and table of the data by clicking here.
This project was funded in part by GO VIRGINIA, a state-funded initiative administered by the Virginia Department of Housing and Community Development (DHCD) that strengthens and diversifies Virginia’s economy and fosters the creation of higher wage jobs in strategic industries.
Protecting Our Shoreline
Tails Summit Summary
NVRC and partner organizations were pleased to host the second annual Northern Virginia Recreational Trails Summit on October 24, 2023. The event brought together approximately 60 representatives from local, state, and federal governments as well as non-profit organizations, advocacy groups, and community members from across the region. NVRC staff has authored a Summary from the Trails Summit. You can read the summary and access Summit materials by clicking on the button.
Being Winter Salt Smart
NVRC is proud to work with our local government partners, water providers and others to share information on the proper use of salt during the winter months to help protect wildlife, waterways, rivers and our drinking water supply.
We will be producing additional public information materials in the next several days and weeks. As always, please feel free to share.
Sharing Our Work at the Association of Defense Communities
NVRC participated in the Association of Defense Communities conference. The Northern Virginia delegation included Community Volunteer Will Rowe; NVRC's MIRR Program Manager Vonzell Mattocks and NVRC's Director of Community and Military Partnerships Peggy Tadej. Carlton Reid from Booz Allen from the industry shared best practices on a panel with Peggy, Vance Zevela of Fairfax County government as the Liaison for Fort Belvoir; and Dr. Will Rowe.
Supporting Our Military
On November 16, NVRC Staff Vonzell Mattocks and Peggy Tadej along with Dr. Will Rowe met with Senator Mark R. Warner and Senator Tim Kaine at their Breakfast on the Hill event honoring Virginia veterans. The event serves as an opportunity for veterans, active duty service members, their families, and Virginia’s broader military community to speak with the Senators and members of their staff.
Career Technical Education Study Tour
With the very generous support of Dominion Energy that made this study tour possible, for the period November 4-11, 2023, the Northern Virginia Regional Commission led a 7-member team of career technical educators and teachers from Alexandria City Public Schools (ACPS) and Arlington County Schools (APS), to Stuttgart and Hamburg, Germany. The purpose of the one-week study tour was to research the German model of vocational training and apprenticeships in the electrical vehicles, renewable energy (solar) and sustainable technology sectors, in order to inform and potentially apply certain pedagogical innovations in the electrical/energy sustainability technology CTE programs in Northern Virginia. In Germany, the teachers and educational experts met with counterparts from German public schools, vocational training institutes, unions, guilds, businesses and chambers of commerce working with equivalent electric vehicle, renewable energy and grid vocational training programs.
NVRC Awarded National Fish and Wildlife Foundation Chesapeake WILD Grant
NVRC Partnering with Prince William County Department of Public Works, the U.S. Fish and Wildlife Service and the George Mason University Potomac Environmental Research and Education Center
The National Fish and Wildlife Foundation (NFWF) announced 25 grants in the 2023 round of funding for the Chesapeake Watershed Investments in Landscape Defense (Chesapeake WILD) Program. NFWF selected the Northern Virginia Regional Commission (NVRC) for a $75,000 grant to further improve local water quality and enhance biodiversity in successfully restored streams in Prince William County.
NVRC is working with the Prince William County Department of Public Works, the U.S. Fish and Wildlife Service’s Harrison Lake National Fish Hatchery and the George Mason University Potomac Environmental Research and Education Center (PEREC) to reintroduce native freshwater mussels into restored streams.
Freshwater mussels act as nature’s filtration systems capable of filtering and cleaning large amounts of water. An adult freshwater mussel can filter up to ten gallons of water per day. Water quality and biodiversity will likely improve in streams with freshwater mussels.
Phase I of the project will consist of analyzing streams in Prince William County to identify which streams are best suited for mussel reintroduction.
Phase II will consist of deploying hatchery reared mussels in baskets to monitor growth and survivorship rates in different streams.
The final phase of the project involves reintroduction of hatchery reared mussels into the streams identified during the assessment phase. Mussels will be tagged and released into selected sites in Prince William County with continued monitoring of the mussels and water quality.
After photo of stream corridor restoration at Locust Shade Park in Prince William County. (Photo from Prince William County Public Works)
Additionally, local education, outreach, and citizen science are integral pieces of this project. Partnering with Virginia Master Naturalists, Prince William Conservation Alliance, and local K-12 students, the project aims to educate and engage the community. Stay tuned for local volunteer opportunities for this project.
NVRC plans to kick-off the project in April 2024.
About the Northern Virginia Regional Commission
NVRC is a consortium of thirteen local governments representing more than 2.5 million residents. While only 3% of Virginia's land mass, Northern Virginia has a GDP of $250 Billion which is 41.4% of the GDP of the Commonwealth of Virginia. Northern Virginia’s GDP is larger than 23 states and the District of Columbia and if a country would be the 51st largest economy in the world.