IT Industry in Arlington: Data & Performance
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 into the national spotlight as a major innovation hub in the United States.
Arlington’s startup ecosystem has been rapidly expanding, which has further contributed to 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.
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 5th best city for young professionals and the best place to live in the United States.
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.