Home > Public Policy > Reston Economic Data

Economic Data

 
About the Reston Business Community      Fairfax County Employment by Industry
Reston Economic Base      Fairfax County Fortune 500 Companies
Reston Commercial Space Inventory      Facts on Minority and Woman-Owned Businesses
Fairfax County Business Demographics      


About the Reston Business Community
World-renowned as one of the earliest and most successful master-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 offers excellent access to employers, workers and residents via the Dulles Toll Road and Fairfax County Parkway.

Commercial development is primarily clustered along three main arteries—Reston Parkway, Sunrise Valley Drive and Sunset Hills Road. Reston is home to four hotels, about 466,000 square feet of industrial/flex space and 1.7 million square feet of retail development, much of which is focused around the Reston Town Center.

Reston is the second largest office market in Fairfax County with almost 19.7 million square feet of space. Office buildings range from condominiums to the high-rise structures around the Reston Town Center. Other selected business parks in Reston include Campus Commons, Commerce Executive Park, Isaac Newton Square, Lake Fairfax Business Center and Parkridge.

Reston is home to major employers such as Accenture, BAE Systems, Fannie Mae, the corporate headquarters of Lafarge North America, Lockheed Martin, Sprint, Northrop Grumman, Oracle, Qinetiq North America, Raytheon, Sallie Mae, Siebel Systems, 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 natural areas, including more than 60 miles of trails, dozens of recreational facilities and two golf courses.

The Lake Anne area of the community—the initial phase of Reston—has been designated as one of the seven Commercial Revitalization Districts/Areas in Fairfax County.


ABR_reston-3
CommercialOfficeSpace2012
Fairfax County Business Statistics

The following facts give a broad overview of Fairfax County's business community.

Business Demographics
Payroll Establishments (2Q 2012)

34,380

Number of jobs (2Q 2012)

592,193

Civilian Labor Force (Oct. 2012)

653,237

Residents working in Fairfax County (2011)

51.4%

Unemployment Rate (Oct. 2012)

3.8%

Business Community
Foreign-owned firms (2012)

395

Technology firms (2012)

6,700+

Associations (2012)

300+ 

Commercial Real Estate
Office Space (Mid-Year 2012)

113.7 million square feet

Vacancy rate (Year-End 2011) 

14.1%

Procurement Spending
Federal procurement spending in Fairfax County (FY2011)

$26.5 billion



Fairfax County Employment by Industry (2Q 2012)

Professional, Scientific and Technical Services

27%

Retail

9%

Health and Social Services

9%

Accommodation and Food Services

7%

Education

8%

Information/Telecommunications

12%

Management and Administrative Services

11%

Construction

4%

Finance and Insurance

4%

Public Administration

5%

Other

12%

Source: Virginia Employment Commission 

Fortune 500

10 Fairfax County companies made Fortune's list of the 500 fastest growing companies in 2012.

Rank

Name Location
25  Freddie Mac Tysons Corner
92  General Dynamics Falls Church 
104  Northrop Grumman Falls Church 
148  Capital One Financial  Tysons Corner 
162  CSC Falls Church 
245  SAIC Tysons Corner 
369  NII Holdings  Reston 
422  ITT Exelis Tysons Corner 
439  Booz Allen Hamilton Holding  Tysons Corner 
465  Gannett Tysons Corner


Facts on Minority and Woman-Owned Businesses

Small and minority businesses are born of the creativity and innovation that characterize Fairfax County's commercial enterprises. Fairfax County has one of the largest percentages of minority-owned information technology firms in the nation. Fairfax County's minority business community includes Hispanic-owned firms, African American-owned firms, Asian- and Pacific Islander-owned firms, American Indian- and Alaska native-owned firms and woman-owned firms.

Minority-Owned 8(A) Businesses in Fairfax by Ethnicity (2011)
Asian and Pacific Islander 24%
African-American 18%
Subcontinental Asian 30%
Hispanic 12%
Non-minority/no reponse 10%
American Indian and Alaska Native 6%

African American-Owned Businesses (2011)
Total number of firms 7,714 
Total sales and receipts $1.3 billion
Firms with paid employees 652 
Sales and receipts $1.1 billion 
Employees 9,385 
Annual payroll $440.1 million

American Indian and Alaska Native Owned Businesses (2011)
Total number of firms 460
Total sales and receipts $61.1 million
Firms with paid employees 78
Sales and receipts $54.3 million
Employees 456
Annual payroll $19.9 million

Asian and Pacific Islander Owned Businesses (2011)
Total number of firms 18, 915
Total sales and receipts $5.3 billion
Firms with paid employees 3,923
Sales and receipts $4.6 billion
Employees 30,688
Annual payroll $1.5 billion

Hispanic/Latino-Owned Businesses
Total number of firms 9,628
Total sales and receipts $1.8 billion
Firms with paid employees 1,039
Sales and receipts $1.8 billion
Employees 14,828
Annual payroll $569.3 million

Woman-Owned Businesses
Total number of firms 34,242 
Total sales and receipts $5.8 billion
Firms with paid employees 4,465
Sales and receipts $4.7 billion
Employees 34,274
Annual payroll $1.6 billion

Economic data courtesy of Fairfax County Economic Development Authority.

Follow Greater Reston Chamber on LinkedIn Follow Greater Reston Chamber on Flickr Follow Greater Reston Chamber on YouTube Follow Greater Reston Chamber on Twitter Follow Greater Reston Chamber on Facebook Follow Greater Reston Chamber on LinkedIn Follow Greater Reston Chamber on Flickr Follow Greater Reston Chamber on YouTube Follow Greater Reston Chamber on Twitter Follow Greater Reston Chamber on Facebook