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.
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.