What’s With All the Cranes?! Look up just about anywhere in Arlington, and you’ve probably asked yourself this same question. Now, you can get the answers at Arlington Economic Development’s 2005 Arlington Real Estate Review and Showcase on March 4, 2005. Join area developers and business leaders for a comprehensive review of how the Arlington real estate and business markets performed in 2004, and how they stacked up against the region. Plus, get an insider's forecast of what's new and hot in 2005, including major projects in Crystal City, Courthouse, Shirlington and Columbia Pike. The event will be held at the National Rural Electric Cooperative Association (NRECA), beginning at 7:30 a.m. For more information, visit the AED Web site. To learn about on exhibit opportunities, contact AED’s Lauren Hodgin at 703-228-0857.

Making Shirlington a Magnet Shirlington was the subject of a multi-page Washington Post profile, which reviewed its hotly-anticipated new development, including an infusion of housing -- about 650 rental units and for-sale condos -- new retail space, a new grocery store, a new library and a new home for Arlington's award-winning Signature Theatre. The new development will build on Shirlington’s current popularity as a restaurant, arts and entertainment district, and will create a round-the-clock environment. New condos and apartments will bring in full-time residents, and the new theater and library will attract more people to Shirlington from surrounding areas. Arlington County officials estimate that the library and the theater will draw an added 200,000 people per year. Complete article -->

PowerSPACE Comes to Crystal City PowerSPACE & Services, a provider of work space solutions for business, opened its Crystal City business center in January, with over 20,000 square feet of prime office space, at One Crystal Park. PowerSPACE offers an array of office space options including large team rooms, executive spaces, individual offices, or conference and training rooms plus support services to help businesses create a professional office environment at a moment’s notice. Fully wired with cutting-edge technology, PowerSPACE facilities are also tastefully designed and decorated, and provide a professional work environment with all of the amenities to help your business succeed. More information-->

UDI Wins $228 Million Navy Contract United Defense Industries of Arlington won two military contracts to perform maintenance work on amphibious Navy assault ships and assist with manufacturing of tank-recovery vehicles in Egypt. The company said its five-year, multi-option Navy deal is potentially worth $228 million, with an initial $350,000 order for advance planning on the first of six ships included in the agreement. The work is expected to be completed in 2010. United Defense also received an $8.8 million contract from the Army Tank-Automotive and Armaments Command to provide technical manufacturing assistance in the production of 21 M88A2 Hercules tank-recovery vehicles.

SET Expands Homeland Security Markets Expanding its capabilities in video and image processing for the homeland security markets, Arlington-based SET Associates, a developer of integrated video and radar security systems, said that it has acquired Greenbelt-based ImageCorp for an undisclosed amount of cash. ImageCorp, which specializes in the development of video and image processing systems for the Department of Defense and federal agencies, will join SET's Advanced Technology business unit, where it will continue to operate out of its Greenbelt office. SET develops systems designed to help solve challenging physical security problems, including one for remotely detecting suicide bombers.

FBR Creates Mortgage-Backed Securities Trading Unit Friedman, Billings, Ramsey Group hired sales and trading employees from Freddie Mac to create an institutional mortgage-backed securities trading unit. Michael Swell, previously vice president and head of Freddie Mac’s securities sales and trading group, will lead the business, which will be combined with FBR’s asset-backed securities unit.

Acquisition Will Move AES Into Wind Power Arlington-based AES Corp., a worldwide power company, announced that it has agreed to purchase a large wind power company as a way to meet growing demand for renewable energy. The $60 million cash purchase of SeaWest Holdings Inc., which is contingent on regulatory approval, would mark AES's entry into the wind power-generation business. AES last year acquired a minority interest in a company that builds wind power facilities.

Virginia Commerce Bancorp, Inc. Reports Record Fourth Quarter And Year 2004 Earnings And Continued Strong Growth Virginia Commerce Bancorp, Inc., parent company of Virginia Commerce Bank reported its financial results for the fourth quarter and year ended December 31, 2004. Peter A. Converse, Chief Executive Officer, commented, "Our fourth quarter results completed another year of record earnings and strong balance sheet growth. We are particularly pleased with our significant loan growth while maintaining pristine asset quality. However, beyond our continued strong performance in an increasingly competitive market, 2004 was truly a banner year for Virginia Commerce in terms of surpassing $1 billion in assets, raising $22 million in a follow-on public offering and hiring senior banking executive, Mike Anzilotti." Converse continued, "Further setting the stage for our future progress and success was an acceleration of our branching based on strategic, competitive and opportunistic considerations. The Mt.Vernon and second Chantilly branch were opened in the latter part of 2004 and are growing nicely. Leases for four more branches in Northern Virginia have been executed with openings scheduled in 2005."

Arlington-Based DCIA to Present Bush with Licensed P2P Album The Distributed Computing Industry Association (DCIA), an Arlington-based trade group representing 30 peer-to-peer file-sharing companies, presented the first major album to be licensed for distribution on peer-to-peer networks to President Bush as an inaugural gift. "While the retail value of this gift may only be $9.79, its significance as a turning point in the licensing of mainstream music content for P2P distribution is enormously valuable to the entertainment and technology sectors," said Marty Lafferty, the CEO of the DCIA. Lafferty said that the promotion proves that mainstream artists can be fairly compensated through P2P file sharing. More information-->

Ownership Changes for Arlington Favorite Arrowine Doug Rosen, owner of Arlington wine purveyor Arrowine announced in January that he had bought out Arrowine partners, in an effort to continue his focus on wines from small family domains that use traditional growing and manufacturing techniques. “Arrowine specializes in wine growers that exemplify my belief that great wine begins with respect for the soil and is in harmony with nature,” stated owner Doug Rosen. “Wines should not only reflect their geographic origin but should also reflect the values and character of the men and women who create them.” More information-->

Interstate Hotels and Resorts Selected to Manage Marriott Properties Arlington based IHR has been selected to manage two Marriott-branded hotels that are currently under construction by developer G. Holdings Corporation. The first of those hotels to open will be the 357-suite Residence Inn by Marriott Manhattan-Times Square, which will premier in November in New York. The other property, is the 150-key Marriott Ghent in Belgium slated to open in mid 2006.

Real Estate Development

Courthouse Place Acquired The Penzance Companies has acquired 2000 N. 14th Street, known as Courthouse Place for $30 million from Heitman Capital Management. The nine-story, 115,172 square foot office building was built in 1987. Courthouse Place is 91% leased to a variety of tenants including Govolution, Chi Associates Inc. and National Association of Health Underwriters.

BURST! Media Study: Women Seal the Deal A BURST! Media study recently found that Women complete online travel buys at a rate higher than men. The new study of travel research and conversion to purchase shows more women research airline, hotel, and car rental online than men and a much higher percentage conclude the task with an online purchase. Some conclusions point to female focused advertising vehicles for travel and destination advertisers. More information-->

Marine Corp Marathon Celebrates 30 Years of Running The Marine Corps Marathon continues a combined tradition of dedication, sportsmanship and patriotism when it welcomes 30,000 runners to its Arlington, Virginia start line for the 30th Anniversary race on Sunday, October 30, 2005. Rolling registration begins on Wednesday, April 6, 2005 - that means for the first time in five years, no lottery…no delay in securing a spot…an instant in! More information-->

February is Black History Month A visit to the Arlington Visitors Orientation Center in February provides visitors with a chance to view a collection of information on area African-American heritage offerings. From lectures to historical sites, information is available which highlights this regions rich history and notable accomplishments. For more information, call the Arlington Visitors Orientation Center at 703-416-0784.

US Airways Introduces New Flights from DCA US Airways will be celebrating the launch of new nonstop service between Ronald Reagan Washington National Airport and Atlanta, Chicago, Cleveland, Dallas, Detroit and Houston beginning Feb, 6, 2005, with introductory fare sales. More information-->

Small Business News & BizLaunch Events

Each month, econ.news will cover Small Business News and BizLaunch events. This section will highlight news and events for small businesses in the region, and will profile small businesses in Arlington. If your business has a story to tell, or if you have news or events pertinent to small business, we'd like to hear from you. Send your information and news to the econ.news editor for consideration.

Small Business Profile - Sangam Restaurant
Sangam Restaurant (1211 N. Glebe Road) is one of the the newest independent, ethnic restaurant to arrive in Ballston. Previously known as Bukhara, this tasty and reasonably-priced restaurant is under new ownership by Mr. Edward Dean. Mr. Dean opened Sangam Restaurant in 2004, luring Chef Shambhu Singh to his establishment in November. All signs indicate that he’ll soon cultivate a loyal following! Sangam features a lunch and dinner buffet, with 15-20 items (including vegetarian selections) which change daily, plus a full menu of entrees from North and South India. In addition, Sangam offers a full catering menu, free delivery, free parking, happy hour specials, and private banquet space for your special event or off-site meeting. Staff at Arlington Economic Development (located across the street) recently discovered this hidden gem and gave the restaurant an enthusiastic “thumbs up” for its delicious food and friendly service. Sangam is located at the corner of N. Glebe and Washington Blvd. at the Comfort Inn (free parking available). For reservations or carryout, call 703-524-2728 or -2711.

BizLaunch Events The following events are sponsored by BizLaunch, Arlington’s Small Business Assistance Network, in February and March. Events are free, unless otherwise noted. For more information, on these events and others, visit the BizLaunch Web site

Overview of SBA's Programs and Services
Thursday, February 10, 2005, 6:00 - 8:00 p.m.
Arlington Central Library Auditorium, 1015 N. Quincy Street, Arlington, VA. For more information and to RSVP contact Darnell Roseboro or call (703) 228-0898. To register online, click here.

Doing Business with the Government
February 16, 2005, 7:30 a.m. – 10:00 a.m.
Location: Arlington Business Center, 1100 N. Glebe Road, Ste 1500, Arlington, VA 22201 For more information and to RSVP contact Darnell Roseboro or call (703) 228-0898. To register online, click here.

Need a Business Plan? (Spanish)
February 17, 2005, 6:00 p.m. – 8:00 p.m.
Arlington County Public Library, Central, 1015 N. Quincy Street, Auditorium, Arlington, VA 22201. For more information and to register, contact Isabel Guisantes, or call (703) 228-0802. Note, this workshop will be conducted in Spanish.

Starting a Business Successfully in Arlington County (English)
Wednesday, February 23, 2005, 6:00 p.m. – 8:00 p.m.
Arlington Central Library Auditorium, 1015 N. Quincy Street, Arlington, VA For more information and to RSVP contact Darnell Roseboro or call (703) 228-0898. To register online, click here.

Starting a Business in Arlington County (Spanish)
March 1, 2005, 6:00 p.m. – 8:00 p.m.
Arlington County Public Library, Central, 1015 N. Quincy Street, Auditorium, Arlington, VA 22201. For more information and to register, contact Isabel Guisantes, or call (703) 228-0802. Note, this workshop will be conducted in Spanish.

Save the dates!
First Annual Bootcamp for Entrepreneurs
March 31 – April 1, 2005
Arlington Business Center, 1100 N. Glebe Road, Ste 1500, Arlington, VA 22201. Learn all you need to know in 1 ½ intense days to understand what it means to be an entrepreneur. Business experts from Northern Virginia Community College will help you learn all the key aspects of becoming a small business owner and growing your business. For more information or to register, visit the BizLaunch Website or call Darnell Roseboro at (703) 228-0898. Seating is limited, RSVP early.

Events

The Nuts and Bolts of Starting A BusinessThe ACAP Micro-Enterprise Business Incubator Advisory Group will sponsor a community forum: "Nuts and Bolts of Starting a Business,” on Wednesday, February 2, 2005, from 5:30 p.m. until 9:00 p.m. at 3033 Wilson Blvd., Arlington. The forum will provide a wide variety of information on starting a business. Entrepreneurs who become tenants of the incubator enjoy many benefits and services such as affordable office space, mentoring, no cost business technical training, no cost for business support services and low interest loans to expand business. For more information, please contact Chona Bravante, MBI Program Coordinator, at 703-241-2040 ext. 34.

Northern Virginia Community College & Goodwill Working Together to Bring you Business Classes in Arlington March 14 – May 8, 2005 at the Goodwill Job Center, 10 South Glebe Road, Arlington, VA. Visit the NVCC Web site for more details or call (703) 409-4057.

Courses offered: