D.C.’s Strong Economy Keeps the Local Housing Market Red Hot
A while back we listed 5 reasons why D.C. is such a great place to live. Not surprisingly, one of those reasons is the fact that D.C. possesses one of the strongest economies in the country, thus keeping the price of real estate high and the market red hot. So we decided to take a closer look at some of the companies and institutions in and around D.C. that make it one of the best markets in the country.
Largest Privately-Held Employers (D.C.)
According to a report published by The Washington Business Journal, three of D.C.’s largest privately-held employers include:
1. Mars Inc.
6885 Elm St.
McLean, VA 22101
Total number of employees: 125,000
Known mainly for producing confectionery goods like Mars Bars, Twix, Skittles, Snickers, Milky Ways, and M&Ms, Mars Inc. also has business in other areas like pet products and was listed as the 6th largest privately held company in the country. Today, Mars Inc. provides roughly 125,000 jobs across the country, with some of the best-paying right here at its McLean headquarters.
12011 Sunset Hills Rd.
Reston, VA 20190
Total number of employees: 40,000
Bechtel Corp. is a construction company and contractor that takes on big jobs all over the country. From mining to building airports and even nuclear cleanup, Bechtel takes on some of the most challenging large scale building projects in the U.S., and it all starts in Reston.
3.The ASCII Group Inc.
7101 Wisconsin Ave. NW
Bethesda, MD 20814
Total number of employees: 10,000
The ASCII Group is a large-scale IT company that offers the usual gamut of tech services including coordinating Managed Service Providers (MSPs), Managed Security Service Providers (MSSPs), and Cloud Providers.
Largest Publicly-Traded Employers (D.C.)
In a different report, The Washington Business Journal lists the following as the three largest publicly traded employers in the area (excluding Fannie Mae and Freddie Mac):
6801 Rockledge Dr.
Bethesda, MD 20817
Total number of employees: 110,000
Lockheed Martin is one of the largest and most technologically advanced aerospace and defense contractors in the world. In fact, if you’ve ever heard the term “skunk works” in reference to a special team at work, that stems from Lockheed’s Skunk Works division who famously designed/engineered the SR-71 Blackbird, which is still the fastest jet-powered aircraft ever constructed.
11011 Sunset Hills Rd.
Reston, VA 20190
Total number of employees: 105,000
General Dynamics Corp is another large D.C.-area aerospace and defense corporation that constructs a variety of machines ranging from Gulf Stream Jets to nuclear-powered submarines and everything in between.
2980 Fairview Park Dr.
Falls Church, VA 22042
Total number of employees: 90,000
Yet another aerospace and defense contractor, Northrop Grumman is most widely known for constructing aircraft like the B-2 stealth bomber. However, they do much more than that and it’s likely classified so we’ll just leave it at that.
Largest Government-Run Institutions (D.C.)
Lastly, we couldn’t forget to mention the largest government-run institutions in the area which provide plenty of stable, high-paying jobs:
475 L'Enfant Plaza SW
Washington, D.C. 20260
Total number of employees: 600,000
The United States Postal Service is the largest federal employer in the nation and its headquarters is right in the heart of Washington D.C. Of those who work in D.C., 1,128 make over $100K per year.
810 Vermont Ave NW
Washington, DC 20420
Total number of employees: 377,805
While veterans have been receiving benefits since The Revolutionary War, the VA as we know it has only been around since 1989 and has grown to become the second-largest federal employer in the country.
Arlington County, VA, U.S
Total number of employees: 264,906
While the U.S. Department of Defense (combining the U.S. armed forces) is technically the largest federal employer at nearly 1.2 million employees, the U.S. Department of the Army is the largest of the bunch, and like the others, calls the Pentagon home.
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