The Fairfax County Economic Development Authority (FCEDA) is a public, non-profit agency of the Fairfax County government that operates a wide range of support programs for local businesses.
Fairfax County, Virginia, in particular, is a strategic location often referred to as a gateway to Washington, D.C., and is located on the U.S. East Coast, which has recently emerged as a center for future industries. Virginia was named the “Top State for Business Climate” in 2022 by Site Selection magazine and ranked No. 1 in the 2021 and 2019 CNBC “America’s Top States for Business” study.
With leaders in AI, aerospace and defense, cybersecurity, digital infrastructure, life sciences, advanced manufacturing, and quantum technologies gathering in the region, FCEDA emphasized that more opportunities are opening up for Korean companies.
Victor Hoskins, President and CEO of FCEDA, recently visited Korea to strengthen partnerships with Korean companies and build long-term relationships. The visit was aimed at meeting directly with Korean companies interested in expanding into the U.S. market and expanding support for their growth.
In fact, more than 65 Korean companies currently maintain offices in Fairfax County through FCEDA’s support and cooperation. StarKist, STraffic, Golfzon, and Korean Aerospace Industries are just a few examples, FCEDA explained. These companies have successfully established a strong foothold in the local market and are continuing to grow their businesses steadily.
Through this visit to Korea, FCEDA plans to better understand the practical needs of Korean companies and develop concrete ways to support their successful entry into the U.S. market.
In particular, FCEDA stressed that it provides multi-faceted support programs for companies entering the U.S. market. Specifically, it offers support ranging from initial entry to long-term success, including site selection assistance and office space support, connections with Korean incubators and accelerators in the U.S., and connections to government agencies, partner networks, and business development opportunities.
FCEDA also provides more practical support in areas such as security certifications and compliance requirements, network infrastructure including data centers, talent acquisition, and regular networking events.
First, FCEDA helps create an environment in which companies can thoroughly verify and test their products in line with U.S. federal standards and complex regulatory requirements. To this end, FCEDA connects companies with major laboratories, including MITRE, one of the leading federally funded research and development centers.
The organization also emphasized that there are more than 174 labs in the region that companies can use, providing an environment well equipped for compliance and certification.
The U.S. East Coast and Fairfax County are also well known for their massive concentration of data center infrastructure. According to FCEDA, the vast digital infrastructure in the area is one of the reasons why many global innovation companies continue to put down roots on the East Coast.
As a result, Korean companies located in the region can also benefit from the network and connectivity and storage that data centers provide, including high-bandwidth networks, excellent connectivity, and advanced data storage infrastructure.
FCEDA also noted that talent acquisition is another key advantage. Korean talent can take advantage of FCEDA’s dedicated jobs platform, to connect with local companies. In addition, FCEDA hosts a variety of career fairs throughout the year, enabling companies to communicate directly with skilled professionals and connect talent with jobs.
FCEDA is also operating multiple business networking platforms to help Korean companies build relationships with major local stakeholders in the U.S. These include SelectUSA, Northern Virginia Technology Council events, ACT-IAC events, and a variety of Chamber of Commerce networking events.
Above all, FCEDA said expectations for Korean companies are high in the U.S. market. “The technology is changing quickly, and there is technological convergence, or a fusion of technologies, such as Digital, Bio, Nano and Quantum technologies working together with AI,” Hoskins said. “All the technologies are valued, not just one specific technology, because the market increasingly values technologies across the entire ecosystem.”
“In this trend, the innovation of Korean companies with multi-faceted technological convergence capabilities is drawing strong attention in the local market,” he explained.
Meanwhile, Hoskins himself has built an outstanding career in economic development. He received the Presidential Lifetime Achievement Award in 2023 and is frequently chosen for lists of the most influential business leaders in Virginia and the Greater Washington area.
During his time at the helm of FCEDA, global companies and national industry leaders including Microsoft, Google, Facebook, Amazon Web Services, Volkswagen Group of America, Amentum, Guidehouse, StarKist, Qualtrics, Alarm.com, Hilton, Blue Origin, and Clark Construction have announced new locations or expansions in Fairfax County.
Under his leadership, the FCEDA also launched a multi-faceted talent initiative aimed at attracting, retaining, retraining, and growing the workforce in Northern Virginia. To date, more than 1,000 companies and over 100 colleges and universities have been engaged through this program, and more than 1.5 million job seekers across the U.S. have visited the digital job hub created for Fairfax County and Northern Virginia, connecting them to open jobs in the region.
“This visit to Korea is not only about attracting investment, but also about building long-term relationships between Korea and Fairfax County,” Hoskins said. “We want Korean companies to know that Fairfax County is ready to support them as they explore opportunities in the U.S. market.”
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