Government standards support federal vendors in metropolitan DC and the nation, Washington DC Government Business Examiner
About one-third of metropolitan Washington DC’s economy is involved in or related to the federal government. Generally, the Nation’s Capital and surrounding suburbs are comprised of the following business sectors:
- Biotech – Washington DC is a biotechnology magnet, which houses the third-highest number of bioscience companies in the entire world. We are a major center for human genome research. Regional bioscience workforce includes over 19,000 public-sector and 14,000 private-sector workers and there are greater than 50 universities, federal laboratories, bioscience companies and nonprofit research facilities in the area, which continue to grow and thrive.
- Federal Government – Washington DC also houses the headquarters of the majority of federal government services and agencies while there are more than 2.7 million federal employees – approximately 20% or 500,000 live locally. The federal employee count has risen under President Obama’s oversight by another 123,000 or 6.2%.
- Green Technology –Washington DC is one of the major cities in the world supporting and promoting green technology and global climate initiatives. We house the Department of Agriculture, Department of Interior, Environmental Protection Agency, Food and Drug Administration, Global Climate Coalitions and a wealth of “other” environmental organizations who aid in green technology advancement throughout the planet.
- High-Tech – WashingtonDC’s information technology workforce exceeds 330,000, with more computer engineers here than in any other metropolitan area in the United States and we employ six times more computer scientists than the national average.
- International Business– Washington DC also houses more than 170 chanceries, diplomatic missions, foreign embassies and residences. We are home to the International Monetary Fund and World Bank headquarters. Our city boasts 400 international associations, 700 international companies, leading international news bureaus and over 20,000 international students.
All of the aforementioned business sectors are intertwined with the federal government. In fact, almost every sector maintains a significant share of Central Contractor Registrants and competitive bidders for federal contracts and/or federal grants. Even international students are privy to federal funding in support of educational pursuits and often submit educational grant applications for innovative programs as aspiring future leaders.
Added to this list could be aerospace, agriculture, construction, defense, education, healthcare, intelligence community, networking, etc. Our Nation’s Capital is a virtual cornucopia of federally aligned business initiatives, which makes good sense, because even in our down-turn economy, we remain one of the world’s leading economies.
The Nation’s Capital
More than $80 billion dollars are spent on federal contracting in the metropolitan Washington DC region annually. According to the Daily KOS Washingtonians enjoy the highest median household income of any metropolitan area in the country. We house five of the top ten (10) jurisdictions in America (Fairfax City, Falls Church and Fairfax, Howard and Loudoun counties. Perhaps, we hold the newest moniker, “If you can survive here – you can survive anywhere.” And, federal contractors may be Washington DC’s standard bearers when it comes to survival.
The economy has been fashioned after a Kings Dominion Ricochet in recent years. We have certainly been experiencing fast-paced, exciting attractions, filled with unexpected twists, tight turns and sudden drops. And, these are lauded on the federal contractor community at large will full force and effect in a somewhat bewilderingly haphazard fashion, but is it meant to be so? And, does understanding cost accounting mitigate the proverbial cannon ball effect of emaciating ourselves from risk in order to survive?
Can a solid comprehension of the federally mandated cost accounting standards for federal contracts aid the federal contractor in continued survival?
The short answer is yes. Our nation is pretty amazing. Very learned leaders – no matter the politico – have spent literal lifetimes over the previous generations of our country’s structure from the Pilgrim’s landing until today to identify risk or issues and mitigate them to the best configuration for “both” the government and her people. If you are a federal contractor and you don’t believe this – you are definitely in the wrong line of work.
The past few years, there has been applause for non-patriotism among many sectors of our citizenry. And, in a free-country, the sheer capability of these demarcations is reason for applause, not necessarily for the agreement, but for the fact we can voice our opinions. We are a free people – thank God and the Higher Powers of Humanity.
Most solid federal contractors though, seem to have a strong sense of patriotism and valor. Often decorated veterans of Foreign Service, often home supports of same, often retired seasoned federal government personnel and then truly spirited folks. Federal contractors’ rock! And, some even do so in bands.
So wouldn’t it make sense the federal government would work to support the federal community – even in down-turn economics?
The answer is obvious. If ethically driven and viable federal contractors drive the sustenance of the federal government in outsourcing of lead technologies and innovations among aerospace, biopharma, biometrics, education, energy, engineering, environmental engineering, healthcare, information technology, nex-gen industrialization, etc., of course, the federal government would work to support, enhance and uplift this community of workers so densely populated in the Nation’s Capital.
This is a two-part story. Part two identifies government standards, which affirm federal contractors and supply the much needed answers to serious questions such as how to afford viable federal contract proposal solutions remedies using alternative cost accounting standards the government designed to “aid” the federal contractor – among other identifiers.
GBE (Government Business Examiner) welcomes subscribers and sponsors, just click the buttons at the opening of this story. Additionally, if you have comments, suggestions, or ideas take a moment to email Ms. Donna L. Quesinberry at [email protected].
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