Northern Virginia appears to have a magic charm. While bubbles were bursting from coast to coast, Fairfax and surrounding counties weathered the worst of the economic downturn without feeling much pain.
Throughout the recession, the D.C. metro area unemployment rate remained lower than the national average and recovered quicker. According to the latest S&P/Case Shiller Home Price Index, metro area home values are the most stable in the country.
If low unemployment rates and high property values weren’t enough to induce mass flight into Northern Virginia perhaps a job at Northrop Grumman’s new Fairfax headquarters might.
According to a WBJ report, the coveted jobs at the new facility will pay an average of $200,000 annually. The new headquarters is expected to bring an additional 300 jobs to the area.
High salaries are only the beginning. With Northrop’s arrival come improvements to area infrastructure. Part of the relocation deal between Virginia and Northrop include improvements to Gallows Road and Route 29, covered bus shelters and new bus routes.
Sounds like Fairfax has a lock on greener pastures, no matter which way you look.
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