The unemployment rate for the District of Columbia showed nearly a two- percent decrease in April to 4.6 percent. The pronounced decline indicates the robust business climate in the nation's capital. According to a study initiated by the Greater Washington Initiative, a non-profit regional development organization, the greater Washington, D.C. area has experienced a 24 percent growth in the number of tech companies from 1999 to 2000. The Greater District of Columbia area topped the nation last year with approximately 251,660 workers employed in computer science and engineering fields. That's more high-tech workers than any other area of the nation, including Silicon Valley.

Top New and Expanded Plants in West Virginia From 10/2000 - 6/2001
Company	N/E	Type	Investment US$ (millions)
OSI Specialties	E	MF	30.0
McCabe Henley Durbin	E	HO	30.0
Commonwealth Telephone	N	OF	12.0
Weirton Steel	E	MF	8.0
WISDOM Media	N	MF	7.0
Star Plastics	E	MF	5.1
Composit Pool	N	MF	4.0
Amazon.com	E	OF	4.0
National Industrial Lumber	N	DW	3.8
Source: Conway Data New Plants Database

      "While we recognize the current changing economic environment, this report documents the amazing growth of the D.C. region during the year 2000," says Peter F. Nostrand, chairman, GWI Board of Trustees and president and CEO, SunTrust Bank-Greater Washington Region. "This kind of growth positions the region for continued prosperity."
      City officials hope to feed future area growth with continued infrastructure investment. Nearly $4.7 billion is slated in capital development for projects at the Woodrow Wilson Bridge, Greater Washington's airports and a new Washington Convention Center. The city has also committed $18 million for commercial revitalization in the Georgia Avenue area as well as $30.2 million in streetscape and infrastructure im-provements in the neighborhood.
      The National Capital Revitalization Corp. has also stepped up to the plate. The agency was formed last year to help jump-start development within the district. The agency has $25 million in federal funds and has planned an ambitious list of projects for the next five years. These plans include the development of land around Metro stations and soon-to-be relocated D.C. government agencies such as the Department of Employment Services, and the redevelopment of the North of Massachusetts area as residential neighborhoods and a high-tech employment center.
      Market trends within the D.C. market indicate vacancy rates within the CBD have increased to 5.9 percent, according to CoStar Group. Average monthly rental rates are currently $35.26 per square foot. The Federal Trade Commission has pre-leased approximately 200,000 sq.ft. (18,580 sq.m.) at 601 New Jersey Ave. The commission committed to a 10-year lease in the building, which is currently under construction. E*Trade announced in December a $75 million office facility in Arlington County. The International Brotherhood of Carpenters recently announced a new 788,000-sq.-ft (73,205 sq.m.) headquarters office to be built within the district. Creative Technologies announced in April that it will expand its Fairfax County, Virginia facility.