Sunday, February 22, 2009

New York outlook is bleak, Washington is Rosy

"The fundamental strength," says Yaro, "is that every 24-year-old in America and the world wants to be here. Because every other place seems kind of sleepy."

At the same time Wall Street is losing jobs and prestige, the nation's capital is gaining steam as it ramps up to fight the recession

It wouldn't be the first time that Washington benefited from a national crisis. Back in 1930 the District of Columbia was a quiet Southern town, scoffed at by New York sophisticates. But as the federal government ramped up to fight first the Great Depression and then World War II, its population grew 65% in two decades, vs. just 14% for New York City.

"We say good luck to the people in New York. We know they're going through some tough times," says Arnold Punaro, general manager of SAIC's Washington operations.

 blog it

No comments: