There’s a reason why Tysons is the home of more Fortune 500 companies than any other zip code in the D.C. metro area. Hilton, DXC Technology, Freddie Mac, Capital One, and Booz Allen Hamilton established their headquarters here because Tysons offers a collection of essential elements for business success that are found in few other locales.
Numerous factors go into an organization’s decision about where to build or lease space. According to the University of Pennsylvania’s Wharton School of Business, one of the biggest factors is the need to draw from a pool of highly educated and skilled labor. Other experts have noted that businesses are also looking for access to new markets, upgraded facilities, and a high quality of life for their people when deciding where to settle down. Tysons has all of those elements and more.
Tysons indexes high on many of the attributes that Fortune 500 companies and others are seeking in a home. On the talent front, 72% of Tysons residents and 61% of surrounding Fairfax County residents possess a bachelor’s degree or higher. When it comes to new markets, proximity to Dulles International Airport and Reagan National Airport — both just 15 miles away — allows easy access to locales around the globe.
The development friendly environment of Tysons, which is already set to offer 45 million square feet of office space by 2050, presents an opportunity to create a truly tailored headquarters or large D.C.-area presence. As for quality of life, the area’s transit-oriented, vibrant urban lifestyle is exactly what increasing numbers of people are seeking, whether early-, mid-, or late-career.
The concentration of Fortune 500 companies in Tysons has signaled to other businesses the promise of this rising city. In fact, the attractiveness of Tysons is borne out in the numbers: it experienced the second highest growth rate (7.3%) of office product among comparable submarkets between 2010 and 2020, topping areas such as Buckhead, GA (-0.3%), and Stamford, CT (3.4%).