Despite reports of some contractors leaving the area because of projected cuts in federal spending, Fairfax County continues to attract new and expanding businesses, including government services companies.
About 28,000 federal jobs were created in the Washington, D.C., metro area from 2008 to 2010, but in 2011 there was a decrease of about 2,000 positions, according to the Center for Regional Analysis at George Mason University.
Stephen Fuller, the center’s director, said during the next few years the area’s economy is expected to continue to outpace the national one, but cutbacks in federal spending eventually will hit the region hard.
“Federal spending cutbacks likely will begin in full force after the November presidential election, and already are being anticipated by many agencies,” he told business leaders at an economic conference in Tysons Corner earlier this year.
Outside of the federal sector however, the Center’s forecast remains upbeat.
Fuller projects Northern Virginia is expected to have added about 14,000 jobs by the end of year, primarily within the information technology sector.
During the second quarter of 2012, the Fairfax County Economic Development Authority said it provided services and resources to 33 businesses that soon will be adding about 800 jobs in the county. Most of these businesses, as projected, are in the IT and professional services sectors, but include some government services positions.
According to Development Authority spokesman Allan Fogg, one of the most prominent announcements during the quarter came from Engility, a government services company, that not long ago established its headquarters in the Chantilly area after spinning off from L-3 Communications.
Engility will add 50 jobs in addition to its existing workforce of 300, Fogg said.
Also expected to add 120 jobs to the region is Chantilly-based NMR Consulting, which recently made the HispanicBusiness.com 2012 list of the 500 largest Hispanic-owned companies in the U.S.
“Our CEO, David Garcia, is also a service-disabled veteran,” said NMR spokeswoman Theresa Blaner.
According to Blaner, the company already has 90 full-time employees based in Chantilly, and recently achieved $20 million in annual revenues.
“We relocated to Chantilly from Annapolis just last year,” she said.
Another job creation announcement recently came from Kaztronix, a staffing company that specializes in the health care, scientific, technology and telecommunications sectors. According to the Development Authority, the company will be creating about 60 positions in the Tysons Corner area.
“We can attribute our success in Fairfax County to multiple factors,” said Michael Kasmir, co-founder and president of Kaztronix. “First and foremost, Fairfax County has a high density of evolving technology companies seeking the best and brightest talent, which the county's proximity to major universities makes easily identifiable. Finally, and from a recruiting perspective, qualified job candidates have no problem relocating to Fairfax County, given its reputation as a desirable place to live.”
Reston-based John Marshall Bank is one of the fastest growing banks in the U.S., according to consumer banking analysts BestCashCow.com. The bank has more than 3,000 accounts and assets of about $400 million — a 1,500 percent increase from the $23 million it had when it opened five years ago. According to the Development Authority, it too will be adding jobs in the area.
“While much of the country and the world is suffering from a sluggish economy, the FCEDA continues to work with a wide variety of companies that are creating jobs, diversifying Fairfax County’s economic base and contributing to the local tax base,” said Gerald L. Gordon, Ph.D., president and CEO of the Development Authority.