Washington Post: “The Washington area’s reliance on federal spending has become a major headache for state and local governments, with congressionally mandated program cuts leaving gaping holes in revenue projections from Annapolis to Richmond. George Mason University’s Center for Regional Analysis estimates that the federal government spent $13.4 billion less in the Washington area in 2013 than in 2010. That decrease, economists say, contributed to the following: Virginia is struggling to fill a projected $2.4 billion revenue gap in its state budget over the next three years, even though the national economy is improving; Maryland faces a $600 million budget deficit next fiscal year and nearly $300 million for the current fiscal year; the District last week announced a possible revenue shortfall of $163 million for fiscal 2016.”
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Improving the Washington Region’s Global Competitiveness – For more than 200 years the Washington DC Metropolitan Area has enjoyed economic growth and prosperity, due in large measure to the evolution of the federal government’s role in the region. Reductions to the federal workforce and contracting activity have been doing harm to the region’s economy in recent years. With further federal reductions anticipated in the next several years the Washington region faces a new imperative: the private sector must take the lead in driving economic growth. This will require the region to focus its attention on improving its competitive position in the global economy, something it has not had to do in the past. A 2013 Brookings Institution study called, “The 10 Traits of Globally Fluent Metro Areas,” examined the characteristics of the 100 largest U.S. metro areas and determined commonalities among successful regions. The George Mason University Center for Regional Analysis (CRA) has completed a detailed research study that evaluates the region’s status relative to Brookings’ “10 Traits,” documents the region’s strengths, weaknesses, and uncertainties regarding its global competitiveness, and puts forth “Agenda for Global Fluency” for the Washington region. The report may be downloaded below, along with an Executive Summary and appendices.”
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