At a regional business forum Tuesday, D.C. Mayor Muriel Bowser and Va. Governor Terry McAuliffe said they would be open to the idea of a joint international trade mission to promote business development for the D.C. Metro area.
Addressing the Capital Region Business Forum in McLean, the two leaders recognized their shared business interest when it comes to advocating for the region abroad. The unique business cluster across two states and the federal district often results in the three entities competing to attract new business. This time, it appears that the three chief executives also have much to gain from working together.
Though Md. Governor Hogan was not present at the event, his office later expressed interest in a joint trade mission. "Our office is open to the idea and discussing it further with our regional partners," said spokesman Doug Mayer in a statement to DC Inno. Mayor Bower and Gov. McAuliffe's offices did not immediately respond to offer further comments.
Trade missions are nothing new, but are almost always limited to delegations from one state and focused on particular areas of economic interest. Gov. Hogan traveled to South Korea, China, and Japan earlier this year to promote economic cooperation between Maryland and the east Asian countries. Mayor Bowser recently returned from China, where she had high profile meetings on topics like development and tourism. And Gov. McAuliffe has traveled to countries like India and Middle East nations to discuss trade of hard goods as well as defense contracting.
But a joint trade mission led by the three would be the first of its kind, and necessarily would require a shared economic focus. The District does not share an interest in agricultural trade, for instance, whereas tourism might not be at the top of Virginia or Maryland's lists of priorities. While none of the offices responded to inquiries regarding potential areas of focus, attracting international tech investment could be a natural choice.
The region's ever growing tech scene, from Reston to Rockville, would benefit from an influx of international investment, as exits have an accelerating effect on the industry and attracting tech workers to the area would be a rising tide that to float all of the region's boats. With the proximity to the federal government, a thriving cybersecurity industry, and plenty of talent from dozens of Greater Washington-area universities, investing in the area would be a smart bet from an international perspective.
While planning of a joint trade mission will require significant coordination amongst staff and a lot of time to organize, the benefits could be significant. As the three administrations work to put a plan together, we'll be watching to see where they decide to go and what sort of investment they hope to attract to the Metro region.
