The Rosslyn-Ballston Corridor, Part IV: The R-B “Entrepreneurship
Ecosystem”
by Dan Gonzalez
This
is the fourth and final installment on my focus on Arlington’s Rosslyn-Ballston
(R-B) corridor, the three-mile area consisting of Rosslyn-Courthouse-Clarendon-Virginia
Square-Ballston --- all with Metro stops.
The
R-B Corridor has become what is known as an “entrepreneurship ecosystem.” An entrepreneurship ecosystem is an environment
where diverse people and ideas can come together and then surround that convergence
with resources to grow for the benefit of the region.
A
major part of the R-B Corridor ecosystem is the presence of large military and
government agencies such as DARPA (Defense Advanced Research Projects Agency), Office of Naval Research, Air Force Office of
Scientific Research, and National Science Foundation….all within blocks of each
other and with a combined $130 billion in federal research funding. These agencies are looking to 1) advance
existing technologies through commercialization or 2) acquire new
technologies. Either way it is an
exciting prospect for entrepreneurs to build a company on providing improved
existing technology to these federal groups OR submit proposals for technology
to receive research funding (aka...The Cookie Jar effect).
Also
adding to the dynamism of the R-B ecosystem is the location of satellite
campuses of two world class universities: Virginia Tech and George Mason
University. And, as previously noted,
the R-B ecosystem is the beneficiary of great real estate. Projections are that
the Rosslyn-Ballston corridor will continue to be one of the most desirable
residential and commercial markets in the DC region; and, importantly, one the
most attractive areas, for all the above reasons, for entrepreneurship and
operating a business. The R-B Corridor
has prospered during the worst recession in decades, but there are rumblings
that office vacancy rates may trend upward over the next several quarters due
to relocations of government agencies such as Fish and Wildlife and a large
number of commercial lease expirations. However, if this entrepreneurial ecosystem
picks up steam it could provide a demand and supply balance for the next
several years.
