Robust economic forecast for Washington region
An economic and demographic forecast for the Washington area from the Metropolitan Council of Governments (COG) suggests a strong economic future with some structural changes and a population surge.
The region lost some ground with the federal spending cuts under sequestration starting in 2011, which have cost the area almost $14 billion a year. But between now and 2025, Washington area job growth is projected to be 13% versus 10% nationwide.
Economists have said for some time that the region must become less dependent on federal jobs. COG predicts there will be 44,000 fewer of them by 2045. But 600,000 new jobs in business and professional services will be added.
And 1.5 million new people will come to live here, most of them in DC, Arlington County and the City of Alexandria. COG aims for much of the growth to be in transit-accessible, mixed use areas. Of course, many residents will still get around by their private motor vehicles, which is a good thing.
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