Of $1.1 billion in 2011 investment in the Washington D.C. and Baltimore region, 69 percent of it, or $772 million, came within one of those two cities.
That flies in the face of the long-held perception that Northern Virginia and outlying Maryland counties dominate early stage business growth. We’re seeing it on the ground in both D.C. and Baltimore city, investment deals getting done in urban cores, rather than the suburban business parks of the 1990s and early 2000s.
As Richard Florida digests for the Atlantic, it’s part of a growing trend of tech being an urban phenomenon. Ten of the 11 largest investment regions followed suit, seeing more urban investment than suburban — Philadelphia being the sole outlier.-30-