[April 03, 2018]

Prince William County Reports $817 Million in Intended Capital Investment and 954 New Jobs from Economic Development Projects in Calendar Year 2017

The Prince William County Department of Economic Development today released its full year annual results for 2017, reporting $817 million in intended capital investment and an estimated 954 new jobs.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180403005429/en/

Prince William County, the 2nd largest and 4th fastest growing County in the Commonwealth of Virginia, reports $817 million in capital investment and 954 new jobs in 2017. (Photo: Business Wire)

Below are some of the year's achievements and highlights:

• $817 million in intended capital investment marked a significant milestone, making 2017 the Department's fifth consecutive year of logging capital investment in excess of half a billion dollars;
• 954 new job creation estimates for 2017 was the highest recorded for over a decade, since 2006;
• 19 companies received assistance, with 18 of those companies being within the County's targeted industry sector (life sciences & biotechnology; information technology; federal agencies and corporate facilities; and specialized logistics and supply chain);
• At-place employment was 128,340 as of 3Q2017 and the unemployment rate is 3.0% - 0.9%; lower than the national unemployment rate of 3.9%;
• Ceres Nanosciences (Ceres), a life scences start-up, graduated the Prince William Science Accelerator, following successful fundraising and growing demand for the novel Nanotrap™particle platform;
• The County welcomed Cabelas, which opened the doors to its only store in the D.C. metro area;
• Iron Mountain opened the first phase of its Data Center campus facility, built from the ground up;
• The highly anticipated Farm Brew Live - the County's first destination brewery campus, opened;
• 18,500 instances of support were delivered to the existing business community, which ranged from consultations, visitations and resolutions to queries;
• 105,521 unique website visitors;
• 21 press releases reached approximately 39 million unique visitors* and generated an estimated $1 million in earned and paid media coverage*; and
• 20% increase in Twitter (News - Alert) followers.
  
  
  
  (*Conservative estimates based on third-party industry-benchmark formulas).

"This record performance was attributed, with thanks, to all the County's local and business partners that continuously strive to ensure we are delivering on our value proposition," said Jeff Kaczmarek, Executive Director, Department of Economic Development, Prince William County. "It has been our pleasure to conclude yet another year of diversified business growth in Prince William County."

In the last five calendar years (2013-2017), projects closed by the Prince William County Department of Economic Development alone intend to invest a record of nearly $4.3 billion and create approximately 2,853 jobs. To download the 2017 Annual Report, click here.

Today, the County is home to approximately 9,000 businesses, an increase of 40% over the past ten years. Want more Prince William County? Check out our latest video, sign-up for newsletters or visit us at: www.PWCEconDev.org or @PWCDED.

NOTES TO EDITORS:

• Located less than 20 miles from the nation's capital, Prince William County encompasses a total area of 348 square miles.
• Prince William County's favorable blend of large land parcels, multi-use zoned sites, incentives, reliable power and ample fiber optic availability coupled with the lowest programmable computer taxes in the region, make it an ideal location for businesses seeking a location in the Mid-Atlantic region.
• 75% of Northern Virginia's 1.5 million workers live within a 30-minute one-way commute to the center of Prince William County during rush hour.
• Prince William County provides access to an outstanding talent pool of highly-skilled, culturally diverse labor; 42% of the workforce has 4-year degrees.
• Prince William County carries a AAA bond rating from all three of the major credit ratings agencies (Fitch, Moody's and S&P).

View source version on businesswire.com: https://www.businesswire.com/news/home/20180403005429/en/

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