Economy
Alexandria is a national leader in technology companies and professional associations and is nationally recognized as one of the best places to do business on the entire east coast. In fact, Alexandria ranks fourth in the United States for concentration of professional associations. Alexandria’s economy is also fueled by tourism and hosts over two million visitors every year. The city has become a prime destination for divisional, regional, national, and multinational headquarters for research and development, associations, and technology. Alexandria contains over 8,500 business and organizations; there is approximately 17.5 million square feet of office space and three million square feet of retail space in the city. Alexandria is in the top ten cities in the United States with the highest per capita income and is also in the highest percentile of adults with college degrees, coming in seventh in the nation.
The Alexandria Economic Development Partnership (AEDP) is a partnership between the city and the business community that has been working towards economic development since 1981. The AEDP assists businesses and industries by giving them information about site availability and office space, as well as economic and demographic statistics. They have promoted economic development programs and turned Alexandria into a nationally recognized community and business center.
The largest private employer in Alexandria is Alexandria Hospital, which has over 1,500 employees. Other above average private employers include the Institute for Defense Analysis, the American Diabetes Association, Center for Naval Analysis, Boat Owners Association of the U.S., and Public Broadcasting Service (PBS), all with over 500 employees.
The largest public employer in Alexandria is the United States Department of Defense which employs just over 9,000 people. The U.D. Department of Defense is broken down into two sections, the military and civilian workers, both of which have over 4,000 employees. Other major business in the public sector include the City of Alexandria, Alexandria Public School System, WMATA (Metro), all of these employing over 1,000 people.
Other corporations that have their headquarters located in Alexandria include the American Diabetes Association, TRW, AT&T, Technology Applications, Capitol Publications, Fokker Aircraft USA, the American Society for Training and Development, and Softec.
With over 350 companies employing over 12,000 people, the technology sector is one of Alexandria’s main economic resources. These companies specialize in the production of software and hardware, information technology, technology research, and media production.
Manufacturing is another economic support Alexandria provides with approximately 200 businesses and over 2,000 employees. These include Industrial Machinery and Equipment, Multimedia and Software, Plastics and Rubber Products, Fabricated Metal Products, Aerospace, and Electric Equipment.