Greater Reston Economic Data
World-renowned as one of the most successful planned communities, Reston was designed to balance a strong job base with a high quality of life and diverse housing options. Midway between Tysons Corner and Washington Dulles International Airport, Reston enjoys excellent access via the Dulles Toll and Access Roads (Route 267) and the Fairfax County Parkway (Route 7100).
Commercial development is primarily clustered along three main arteries—Reston Parkway, Sunrise Valley Drive and Sunset Hills Road. Reston is home to three hotels, 466,000 square feet of industrial/.ex space and 1 million square feet of retail development, much of which is focused around the upscale Reston Town Center.
Reston is the second largest office market in Fairfax County with more than 18.3 million square feet of space. Office buildings range from condominiums to the high-rise structures around the Reston Town Center.
Major employers in the area include BAE Systems, Fannie Mae, Lockheed Martin, Sprint Nextel, Northrop Grumman, Oracle, Raytheon, Sallie Mae, Unisys and the U.S. Geological Survey.
In addition to being one of the county’s largest business centers, Reston boasts 1,300 acres of open space and nature areas, including more than 60 miles of trails, dozens of recreational facilities and two golf courses.
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Business Statistics
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The following facts give a broad overview of Fairfax County's business community.
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Business Demographics |
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Payroll Establishments |
31,160 |
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Number of jobs |
575,729 |
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Civilian Labor Force |
609,913 |
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Residents working in Fairfax County |
53% |
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Unemployment Rate |
2.3% |
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Business Community |
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Foreign-owned firms |
358 |
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Technology firms |
5,013 |
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Associations |
270 |
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Commercial Real Estate |
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Office Space |
105.1 million square feet |
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Vacancy rate |
9.2% |
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Procurement Spending |
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Federal procurement spending in Fairfax County (FY05) |
$11.6 billion |
Fairfax County Employment by Industry
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Professional, Scientific and Technical Services |
21% |
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Retail |
10% |
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Health and Social Services |
8% |
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Accommodation and Food Services |
7% |
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Education |
7% |
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Information/Telecommunications |
7% |
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Management and Administrative Services |
7% |
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Construction |
6% |
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Finance and Insurance |
4% |
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Public Administration |
4% |
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Other |
18% |
Source: Virginia Employment Commission |
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Inc. 500
Twenty-two Fairfax County companies made INC's list of the 500 fastest growing companies in 2006.
Fortune 500 List
Seven Fairfax County firms appear on the 2007 Fortune 500 list of the largest corporations in the United States.
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Facts on Minority and Woman-Owned Businesses
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Minority- and woman-owned businesses make significant contributions to Fairfax County's economy and add breadth and diversity to the business community. The county leads Virginia in the number of companies owned by Asians and Pacific Islanders, African-Americans, Hispanics, American Indians and Alaska Natives, and women.
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Minority-owned Businesses in Fairfax by Ethnicity |
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Asian and Pacific Islander |
31% |
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African-American |
24% |
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Subcontinental Asian |
21% |
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Hispanic |
12% |
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Non-minority/no reponse |
8% |
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American Indian and Alaska Native |
4% |
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African American-Owned Businesses |
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Total number of firms |
5,091 |
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Total sales and receipts |
$1.06 billion |
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Firms with paid employees |
467 |
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Sales and receipts |
$933.7 million |
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Employees |
8,481 |
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Annual payroll |
$365.2 million |
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American Indian and Alaska Native Owned Businesses |
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Total number of firms |
475 |
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Total sales and receipts |
$97.7 million |
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Firms with paid employees |
77 |
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Sales and receipts |
$81 million |
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Employees |
743 |
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Annual payroll |
$26.1 million |
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Asian and Pacific Islander Owned Businesses |
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Total number of firms |
14,311 |
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Total sales and receipts |
$3.2 billion |
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Firms with paid employees |
2,856 |
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Sales and receipts |
$2.7 billion |
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Employees |
25,033 |
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Annual payroll |
$922 million |
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Hispanic/Latino-Owned Businesses |
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Total number of firms |
7,302 |
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Total sales and receipts |
$1.1 billion |
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Firms with paid employees |
727 |
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Sales and receipts |
$850 million |
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Employees |
10,422 |
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Annual payroll |
$335.7 million |
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Woman-Owned Businesses |
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Total number of firms |
29,857 |
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Total sales and receipts |
$4.1 billion |
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Firms with paid employees |
4,182 |
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Sales and receipts |
$3.3 billion |
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Employees |
32,691 |
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Annual payroll |
$1.1 billion |
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Economic data courtesy of Fairfax County Economic Development Authority. |