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Business Journals
6 days ago
- Business
- Business Journals
Federal cuts hitting D.C. suburbs hardest, data says
Story Highlights Trump administration's federal cuts severely impact Greater Washington's economy. Suburbs hit hardest, with steep drops in employment and contracts. CBRE's REVIVE index shows second-worst economic start since 2009. The Trump administration's efforts to slash federal spending through mass firings and buyouts of federal workers and cancellation of scores of federal contracts are finally starting to take their toll on Greater Washington's economy. New data from the real estate firm CBRE showed that the first of half of 2025 was the second-worst start to the year for Greater Washington's economy going back to 2009, eclipsed only by the first year of the pandemic. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events Notably, the suburbs have been it the hardest, said Ian Anderson, CBRE's senior director of research and analysis. Northern Virginia has seen the steepest drop in federal employment while federal government contracts and grants procured in suburban Maryland fell more than twice as fast in the first six months of 2025 than other parts of the region, according to CBRE's REVIVE Regional Vibrancy Index, a monthly index tracking the health of the local economy. At the end of June, the index stood at 72.4 out of 100, down 1.1% from the prior month and 5% since the start of the year. Only in the first half of 2020 did it show a bigger drop in the region's economic vitality. CBRE (NYSE: CBRE) and the Washington Business Journal began partnering to produce the monthly index in early 2024, tracking changes to the region's economy following the pandemic. The index lags by more than a month and tracks thousands of data points on dozens of industries and condenses those into major areas: labor, innovation, commercial real estate, residential real estate, mobility and visitation, the federal government and investor sentiment. Revised job numbers and additional monthly data have begun to filter in and make clear that the local economy took a turn for the worse in the first two quarters, Anderson said. In previous months, the impact of federal cuts on the economy looked to be more modest and didn't meaningfully drag down the REVIVE index, which had been buoyed strong investor sentiment and rising mobility and visitation scores Now, however, 'that negativity we know about is starting to become clearer in the data,' Anderson said. The region shed roughly 20,000 federal government jobs in Greater Washington so far this year while federal government contracts and grants procured by companies in the region fell by $1.7 billion or 13% since the start of the year, according to CBRE's research. A rise in the region's unemployment rate to 4% in June from 3.3% a year earlier led REVIVE's labor sub-index to fall 2.4% year-over-year in the most recent report. This month, the D.C. real estate firm has added a new index tied specifically to the District. Indices for Northern Virginia and suburban Maryland are forthcoming, as CBRE aims to make its research 'more applicable to stakeholders and players in each of those geographies,' Anderson said. And there are variances between the sub-areas. For example, federal government employment fell by 6.1% in Northern Virginia, 4.1% in suburban Maryland but just 2.4% in D.C. between December and May. Anderson speculated that cuts were more severe in the suburbs because that's where much of the federal job growth has been in recent decades. The Maryland suburbs saw a whopping 31.4% drop in federal government contracts and grants procured from December to June, compared to a 13% drop in Northern Virginia and 12% drop in D.C., the index found. Cuts to the Department of Health and Human Services have disproportionately affected suburban Maryland, which is home to some of HHS' biggest agencies, including the Food and Administration and the National Institutes of Health. NIH has been hit particularly hard by cuts in federal grants. A bright spot in the data was the mobility and visitation sub-index, which was up 43% year-over-year in June. Average daily tapped entries on Metro were 22% higher in June compared to the same month last year, according to data from the Washington Metropolitan Area Transit Authority. The sub-index also tracks anonymized cell phone data, which also showed more people moving around the region than during the same time last year. The D.C. index's street activation metric also takes into account a 12-month rolling average of crime in D.C., which was down 18% through June, Anderson said. Such numbers run counter to President Trump's claims that crime is up in D.C., allegations he this week in announcing that the federal government would be temporarily taking control of D.C.'s police force and deploying the National Guard in D.C. Another bright spot is the apartment rental market. The second quarter of 2025 was the 'ninth-best quarter over the last ten years' in the apartment rental market in Greater Washington, Anderson said, based on median rental rates. The median asking rent in Greater Washington was $2,125 in June, according to data from Zillow, an increase of 1.5% from June of last year. That could be a sign, Anderson said, that even residents who've lost, or are in danger of losing, their jobs are confident that they'll be able to find new ones. 'It appears that is one positive thread underlying a lot of this negative,' he said.
Business Journals
25-07-2025
- Business
- Business Journals
5 new leaders to know in Greater Washington
We've rounded up some pf the region's newly minted leaders for the latest installment of the Washington Business Journal's Power Moves series.
Business Journals
03-07-2025
- Business
- Business Journals
Here are the 333 largest private companies based in Greater Washington
The 333 largest private companies in Greater Washington generated more than $186 billion in combined revenue in 2024. Based in Greater Washington, those businesses employ more than 477,000 people in total. The online version of this ranking expands beyond what appears in print; another 233 privately held companies are included in our digital rankings, in addition to the 100 featured in this week's print edition. This week's List is part of a shift in our research methodology and philosophy in 2025, one that will emphasize more data and context for readers while better coordinating the resources available to us and our 46 sister publications under the American City Business Journals flag. We anticipate this effort will identify thousands of new local records — and cumulatively, tens of thousands of new businesses across ACBJ's footprint — this year alone. Information on The List was obtained through Washington Business Journal research or supplied by individual firms through questionnaires that WBJ could not independently verify. In case of ties, companies are listed alphabetically. For information about this and other Washington Business Journal Lists, please contact Data and Projects Editor Carolyn M. Proctor at cmproctor@ or 703-258-0826. The online version of this ranking expands beyond what appears in print; another 232 privately held companies are included in our digital rankings, in addition to the 100 featured in this week's print edition. This week's List is part of a shift in our research methodology and philosophy in 2025, one that will emphasize more data and context for readers while better coordinating the resources available to us and our 46 sister publications under the American City Business Journals flag. We anticipate this effort will identify thousands of new local records — and cumulatively, tens of thousands of new businesses across ACBJ's footprint — this year alone. Information on The List was obtained through Washington Business Journal research or supplied by individual firms through questionnaires that WBJ could not independently verify. In case of ties, companies are listed alphabetically. For information about this and other Washington Business Journal Lists, please contact Data and Projects Editor Carolyn M. Proctor at cmproctor@ or 703-258-0826.
Business Wire
05-06-2025
- Business
- Business Wire
JK Moving Services Ranked Among Largest Philanthropists in DC Metro Region, Helping Reduce Hunger and Protect the Environment
STERLING, Va.--(BUSINESS WIRE)-- JK Moving Services, a global moving, storage, relocation, and logistics enterprise, was again named a Top Corporate Philanthropist in the greater DC region by the Washington Business Journal. The company was recognized for its $377K in corporate donations in 2024 that largely supported efforts to end hunger through the nonprofit JK Community Farm. These investments placed JK Moving 28th among the region's largest companies and were part of the company's $4M overall donations last year, which also included the cash value of its land donations. JK Moving Services, a global moving, storage, relocation, and logistics firm, was again named a Top Corporate Philanthropist in the greater DC region for its charitable investments that help end hunger and protect the environment. 'We are a company rooted in service and stewardship, and our philanthropy embraces both our commitment to environmental responsibility and community engagement,' explained JK Moving Services CEO Chuck Kuhn 'By helping reduce hunger and increase access to healthy foods while preserving the land it is grown on, we know that our philanthropic investments are helping change lives and protect our planet. We are honored to be recognized again for this commitment by the Washington Business Journal.' Among JK's most significant contributions to community welfare and environmental sustainability is the JK Community Farm, a nonprofit it founded and continues to support. Spanning 150 acres, the farm cultivates over 50 varieties of vegetables, fruits, proteins, and herbs, and is the largest chemical-free nonprofit farm in the nation. The farm relies on thousands of hours of volunteer labor from the community, local companies, and JK employees to meet its goals. The farm's primary mission is to donate 100% of its produce to local food banks and pantries, including Loudoun Hunger Relief, Food for Others, Arlington Food Assistance Center, and DC Central Kitchen. Since its inception, it has distributed more than 1 million pounds of vegetables and protein to families facing food insecurity. Last year alone, the farm grew and donated nearly 250,000 pounds of fresh, organic produce and protein. In addition to donating the land, JK also conserved the farmland so that it will be protected in perpetuity from development. Over the past decade, JK Land Holdings—part of the JK enterprise—has placed more than 22,000 acres of its purchases—nearly one-third in the Northern Virginia region—into conservation easement, ensuring vulnerable vistas and habitats are preserved and protected for future generations. Examples include: 128-acre Loudoun riverfront property that was donated to NOVA Parks; 135-acre Westpark golf course in Leesburg that is being transformed into a park; 87-acre JK Black Oak Wildlife Sanctuary; 56-acre Oakland Farm, a Potomac riverfront property; and 42 acres in St. Louis, one of Loudoun's first African American townships, to protect it from development. In line with this and as part of its focus on corporate social responsibility, 2024 also marked the completion of a critical milestone for JK: an enterprise-wide baseline carbon accounting that will further the company's efforts to reduce its greenhouse gas emissions and protect the environment. JK, along with its sister companies CapRelo and JK Land Holdings, employs nearly 1,200 people—a majority of whom live in the Washington, DC metropolitan region. The company has won numerous awards, including being recognized in prior years by the Washington Business Journal as a Best Place to Work and Top Corporate Philanthropist. ABOUT JK MOVING SERVICES For more than 40 years, JK Moving Services – the largest independently owned and operated moving company in North America – has provided local, long distance, and global relocation services to a variety of commercial, residential, and government clients. Headquartered in Sterling, Virginia and voted Independent Mover of the Year by the American Trucking Association, the company maintains a full-time, professionally trained staff of relocation and move management experts committed to providing the highest level of customer care.
Yahoo
05-06-2025
- Business
- Yahoo
JK Moving Services Ranked Among Largest Philanthropists in DC Metro Region, Helping Reduce Hunger and Protect the Environment
Philanthropic Investments Recognized by Washington Business Journal STERLING, Va., June 05, 2025--(BUSINESS WIRE)--JK Moving Services, a global moving, storage, relocation, and logistics enterprise, was again named a Top Corporate Philanthropist in the greater DC region by the Washington Business Journal. The company was recognized for its $377K in corporate donations in 2024 that largely supported efforts to end hunger through the nonprofit JK Community Farm. These investments placed JK Moving 28th among the region's largest companies and were part of the company's $4M overall donations last year, which also included the cash value of its land donations. "We are a company rooted in service and stewardship, and our philanthropy embraces both our commitment to environmental responsibility and community engagement," explained JK Moving Services CEO Chuck Kuhn "By helping reduce hunger and increase access to healthy foods while preserving the land it is grown on, we know that our philanthropic investments are helping change lives and protect our planet. We are honored to be recognized again for this commitment by the Washington Business Journal." Among JK's most significant contributions to community welfare and environmental sustainability is the JK Community Farm, a nonprofit it founded and continues to support. Spanning 150 acres, the farm cultivates over 50 varieties of vegetables, fruits, proteins, and herbs, and is the largest chemical-free nonprofit farm in the nation. The farm relies on thousands of hours of volunteer labor from the community, local companies, and JK employees to meet its goals. The farm's primary mission is to donate 100% of its produce to local food banks and pantries, including Loudoun Hunger Relief, Food for Others, Arlington Food Assistance Center, and DC Central Kitchen. Since its inception, it has distributed more than 1 million pounds of vegetables and protein to families facing food insecurity. Last year alone, the farm grew and donated nearly 250,000 pounds of fresh, organic produce and protein. In addition to donating the land, JK also conserved the farmland so that it will be protected in perpetuity from development. Over the past decade, JK Land Holdings—part of the JK enterprise—has placed more than 22,000 acres of its purchases—nearly one-third in the Northern Virginia region—into conservation easement, ensuring vulnerable vistas and habitats are preserved and protected for future generations. Examples include: 128-acre Loudoun riverfront property that was donated to NOVA Parks; 135-acre Westpark golf course in Leesburg that is being transformed into a park; 87-acre JK Black Oak Wildlife Sanctuary; 56-acre Oakland Farm, a Potomac riverfront property; and 42 acres in St. Louis, one of Loudoun's first African American townships, to protect it from development. In line with this and as part of its focus on corporate social responsibility, 2024 also marked the completion of a critical milestone for JK: an enterprise-wide baseline carbon accounting that will further the company's efforts to reduce its greenhouse gas emissions and protect the environment. JK, along with its sister companies CapRelo and JK Land Holdings, employs nearly 1,200 people—a majority of whom live in the Washington, DC metropolitan region. The company has won numerous awards, including being recognized in prior years by the Washington Business Journal as a Best Place to Work and Top Corporate Philanthropist. ABOUT JK MOVING SERVICES For more than 40 years, JK Moving Services – the largest independently owned and operated moving company in North America – has provided local, long distance, and global relocation services to a variety of commercial, residential, and government clients. Headquartered in Sterling, Virginia and voted Independent Mover of the Year by the American Trucking Association, the company maintains a full-time, professionally trained staff of relocation and move management experts committed to providing the highest level of customer care. View source version on Contacts Shawn Flaherty, 703-554-3609 Sign in to access your portfolio
