News of business and economic development across Arlington this week:
WEEKLY WAGES ARE HIGHER IN ARLINGTON: Arlington’s average weekly per-capita wage is moving closer to the $100,000-per-year range, even though the year-over-year growth was somewhat lower than the national average, according to new federal data.
The average weekly wage during the first quarter of 2019 for those who are employed in Arlington (wherever they live) was $1,966, equal to $95,524 per year, according to figures reported by the federal Bureau of Labor Statistics on Aug. 21.
Arlington’s year-over-year growth rate of 2 percent was below the 2.8-percent growth rate reported nationally, where the average weekly wage of the 355 largest counties in the nation stood at $1,184.
Average wages were higher in 325 of the 355 largest counties (figures also include Virginia’s independent cities).
For the quarter, San Francisco had the highest first-quarter year-over-year gain, with average wages up 10.2 percent to $2,759. But that only ranked second in dollar amount, behind New York County (Manhattan), N.Y., at $3,153 per week, up 2.1 percent.
Also running above $2,000 per week for the quarter:
• San Mateo County, Calif., $2,765, up 1 percent.
• Somerset County, N.J., $2,139, up 2.5 percent.
• Suffolk County, Mass., $2,270, up 0.2 percent.
• Fairfield County, Conn., $2,070, up 4.3 percent.
Among Virginia localities, average weekly wages stood at $1,837 in Fairfax County, up 2 percent; $1,508 in Alexandria, up 1.3 percent; $1,331 in Loudoun County, up 3.4 percent; $1,298 in Richmond, down 0.6 percent; $1,133 in Henrico County, up 1.9 percent; $1,074 in Norfolk, up 1.1 percent; $1,073 in Newport News, up 3.6 percent; $938 in Prince William County, up 0.4 percent; $937 in Chesterfield County, down 1.6 percent; and $864 in Chesapeake, up 1.9 percent.
Full data can be found on the Website at www.bls.gov.
ARLINGTON FIRMS MAKE ‘INC. 5000’ RANKING: A total of 34 Arlington companies have been named to the 2019 “Inc. 5000” list of fastest-growing private firms in the nation, including five that made the top 500 on the ranking.
Associated Veterans, which provides professional services and consulting to the federal government, ranked 67th nationally and highest in Arlington, according to a compilation from Arlington Economic Development. Others in the top 500 include Capitol Bridge (91st), Stealth-ISS Group (368th), Strategic Alliance Business Group (373rd) and the Fila Group (484th).
“We are really proud of the innovative companies that call Arlington home, and the dynamic entrepreneurs who lead them,” said Marian Marquez, acting director of business development for Arlington Economic Development, a wing of the county government.
Across Virginia, 288 companies were included in the 2019 “Inc. 5000” list. Fairfax County led all jurisdictions with 113 firms on the list.
Rankings are based on growth in revenue over three calendar years for U.S.-based, privately held firms. Thirty-four Arlington firms had made the ranking in 2018, with 21 on the list in 2017.