IT and Emerging Tech

Just next door to Washington, DC, Arlington, Virginia offers a number of assets to technology companies looking to start up, expand or relocate. In November 2018, Amazon.com announced it would locate its second headquarters in Arlington, Virginia, creating more than 25,000 high wage technology jobs. This announcement has catapulted Arlington and Northern Virginia in the national spotlight as a major innovation hub in the United States.

Arlington’s startup ecosystem has been rapidly expanding, which has further contributed towards the county’s recognition as an innovation hub. Since 2015, Arlington-based companies have generated 250 venture capital and merger and acquisition deals totaling over $35.7 billion covering several industries including software, cybersecurity, fintech, big data, digital media, and more (Source: Pitchbook).

Diverse and Young Population

Home to approximately 230,000 people, Arlington has a median age of 33 and 22.9% of Arlington residents are foreign born. According to Niche.com, Arlington ranks as the 5^th best city for young professionals, and the best place to live in the United States.

Highly Skilled Workforce

Arlington is the most educated county in the nation, with over 70% of adults holding a Bachelor's degree or higher, offering employers access to a talented workforce.

Arlington County has an IT labor supply of nearly 28,000 employees, which is projected to grow by 11% over the next 5 years. On a regional level, there are approximately 258,000 qualified IT professionals within a 30-minute commute of Arlington, which includes workers with the following educational achievement levels (Source: Emsi):

• Over 15,000 possessing at least an Associate's degree
• Nearly 130,000 possessing at least a Bachelor's degree
• Nearly 70,000 possessing at least a Master's degree

Access to High Quality Education

Arlington’s superior K-12 education system in addition to its access to a number of major universities throughout the Metro DC region make it an ideal location for information technology companies looking for access to a talent pipeline for their businesses. Within 50 miles, there are 46 public and private not-for-profit universities and colleges offering 2-year, 4-year, and graduate degree programs. Additionally, many major universities have a presence in Arlington giving companies immediate access to talent:

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Incentives

Arlington's Industrial Development Authority (IDA) Performance Grants

• To help recruit or retain large, priority economic development projects typically over 50,000 square feet in size.
• Eligible industries include large office users, corporate headquarters, fast-growing tech companies, and important research, federal or nonprofit organizations.
• Award amounts are determined by the project's estimated fiscal benefit to Arlington County based on the company's industry, square footage, capital investment, and number and salary of jobs.
• Grants are only used when Arlington faces active and realistic competition with another jurisdiction.

Arlington County Technology Zone

Arlington County’s Technology Zone incentive is a partial offset of the Business, Professional, Occupational License (BPOL) tax, a local license tax levied on business gross receipts for the prior year. Qualified technology companies receive a 50% reduced BPOL rate – from $0.36 to $0.18 per $100 of gross receipts for 10 years. To learn more, please view the following flyer.

Arlington County Gazelle Grant Program

Arlington Economic Development's Gazelle Grant is designed to be a deal-closing incentive program for fast-growing or "gazelle" technology companies considering multiple jurisdictions for a business location or expansion. The Gazelle Grant program offers a grant of $10,000 to $150,000 for select technology companies and tech catalyst organizations like business incubators, accelerators and venture funds. Companies must meet the following base criteria to qualify:

• Be a growing, for-profit technology company or tech catalyst organization with proven business and financial success;
• Be a company new to Arlington or an existing Arlington company with at least 30% job growth over a three-year performance period;
• Commit to at least a three-year office lease in Arlington with a move-in date in the next 12 months; and
• Show proven capital-raising ability.

 

For more information on these programs and a full list of incentives offered by Arlington County and the Commonwealth of Virginia, please click here.

 

Learn More

For more information on Arlington's tech ecosystem, please contact Adam Henry, CEcD, Business Development Manager, at (703) 228-0809 or [email protected].