According to a U.S. Census Bureau report, a surge in Asian-owned businesses in the Washington area has resulted in a 30 percent increase in the years 1997 to 2002. The technology and government contracts in the area have brought those with an entrepreneural spirit as well as diverse and global connections.
Besides government contracting, corporate outsourcing has been another contributing factor to the growth of local Asian owned firms, although Hispanic and black-owned businesses saw larger increases such as 50 and 38 percent.
In regards to revenue, Asian-owned firms bring in more-concentrating on scientific and technical fields with the boom in technology and security spending contributing to the 36 percent increase in revenues.
Read more about this Washinton-Post.com article.
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