Section 10-A703. ED-1.1 STABILIZING AND DIVERSIFYING OUR ECONOMIC BASE

 

703.1The District can do more to leverage the strengths of its economy and the region’s skilled and highly educated labor force. It already has an enviable mix of assets that include the national capital, high-performing industries, numerous colleges and universities, amenity-rich neighborhoods, and a transportation system that links the entire metropolitan region. To increase its competitiveness within the regional economy, the District will need to further diversify its economy in sectors that have growth potential and/or are underperforming. 703.1

 

703.2Several industries that do not appear in Table 7.1 may become more important to the District’s economy in the future. For example, the District has a burgeoning “knowledge” economy comprised of universities, think tanks, broadcasting, publishing, Internet media, and data processing firms. The District is already outperforming the region in many of these industries and it can and should do more to enhance their competitiveness in the future. Expanding knowledge-based industries can position the District to capture a larger share of federal “spin-off” benefits, particularly given its already strong competitive edge in the technology sectors. 703.2

 

703.3The District is also a center of international business. The foreign missions and offices of global economic organizations such as the World Bank Group and the IMF represent a major economic sector in their own right with a cumulative direct economic impact in the region of over a billion dollars, and much more in terms of contracting. More importantly, the concentration of missions and institutions makes the District a unique place to conduct business for companies engaging in international investment or transactions. 703.3

 

703.4Tables 7.2 and 7.3 provide some indication of where the District’s economy may be headed. Between 1999 and 2004, Computer Systems Design and Related Services exceeded all other sectors of the economy in both the amount and rate of growth. The industry is expected to be among the fastest growing sectors of the local economy in the future. Legal services and restaurants, also leaders during the past five years, are poised for significant gains. 703.4

 

703.5Table 7.2: High Growth Industries, District of Columbia, 1999-2004    703.5

 

http://planning.dc.gov/planning/frames.asp?doc=/planning/lib/planning/2006_revised_comp_plan/7_econdevelopment.pdf.

 

703.6The 15 industries listed in Table 7.3 represent more than half of the job growth expected in the city during the 10-year period between 2002 and 2012. Some of the gains reflect continued growth of core industries like the federal government, universities, hotels, and non-profits. Other gains are in emerging sectors which show promise for even greater expansion in the future. 703.6

 

703.7Table 7.3: Top 15 Projected High Growth Industries, District of Columbia, 2002-2012

 

http://planning.dc.gov/planning/frames.asp?doc=/planning/lib/planning/2006_revised_comp_plan/7_econdevelopment.pdf.

 

703.8Based on regional and national economic data and indicators, opportunities exist to more aggressively market the District as a corporate headquarters location, grow the building trade and construction industries, and expand information-based industries such as broadcast media. There are also untapped opportunities to grow “backward-linked” or supply industries, such as the laundry and catering firms that serve the city’s hotels, and “forward-linked” or supplied industries, such as the technology firms that benefit from local university research. The District’s retail sector also holds the potential for significant job growth. 703.8

 

703.9Policy ED-1.1.1: Core Industries

 

Continue to support and grow the District’s core industries, particularly the federal government, professional and technical services, membership associations, education, hospitality, health care, and administrative support services. 703.9

 

703.10Policy ED-1.1.2: Economic Linkages

 

Leverage the potential of core industries to provide new employment opportunities, particularly the growth of businesses that supply essential goods and services to the government, universities, hospitals, law firms, hotels, non-profits, and other major employers in the city. 703.10

 

Based on regional and national economic data and indicators, opportunities exist to more aggressively market the District as a corporate headquarters location, grow the building trade and construction industries, and expand information-based industries such as broadcast media.

 

703.11Policy ED-1.1.3: Diversification

 

Diversify the District’s economy by targeting industries with the greatest potential for growth, particularly technology-based and creative industries, retail, international business, and the building trades. 703.11

 

703.12Policy ED-1.1.4: Competitive Edge

 

Maintain and enhance the District’s competitive edge relative to the Metropolitan Washington region and United States markets in such industry sectors as government, professional services, education, health care and tourism. This will require continued government support and incentives for economic development programs, government participation in local economic development projects and initiatives, and strengthened capacity among local economic development organizations, community development corporations, and workforce development groups. 703.12

 

703.13Policy ED-1.1.5: Use of Large Sites

 

Plan strategically for the District’s remaining large development sites to ensure that their economic development potential is fully realized. These sites should be viewed as assets that can be used to revitalize neighborhoods and diversify the District economy over the long term. Sites with Metrorail access, planned light rail access, and highway access should be viewed as opportunities for new jobs and not exclusively as housing sites. 703.13

 

703.13a  Policy ED-1.1.6  International Assets

 

Draw on international business and institutional assets to develop international centers for learning, knowledge sharing, and trade.  Expand cultural opportunities to residents and visitors and create links between the District and foreign cities, industries, retail, institutions, and markets.

 

703.13b  Policy ED-1.1.7  Global Financial Center

 

Enhance the District’s status as an international financial center by supporting the enactment of proposed federal legislation to ensure that insurance reserves are held and invested in the U.S., rather than offshore in foreign jurisdictions, to cover losses from natural and man-made catastrophes.  By making the District a special tax jurisdiction where billions of dollars of catastrophic insurance reserves and their investment income would be exempt from federal taxes, substantial new professional and service-support jobs would be generated for District residents, along with substantial new local tax revenues.

 

703.14Action ED-1.1.A: Economic Development Strategic Plan

 

Prepare an Economic Development Strategic Plan that lays out in greater detail the steps the District must pursue to maintain and grow its economy. This plan should cover all economic sectors, evaluate competitiveness, and include strategies for workforce development and business attraction and retention. It should be developed through broad input from stakeholders, including resident, industry and education interests. 703.14

 

703.15Action ED-1.1.B: Data Tracking

 

Maintain and regularly update statistical data on employment in core sectors, wages and salaries, forecasts by sector, and opportunities for future employment growth. 703.15

 

703.16 Action ED-1.1.C:  Business Support Structures

 

Streamline processes and create a more centralized system to assist businesses to meet regulatory requirements quickly and efficiently, with a particular focus on serving small businesses.  Centralize information and assistance to small and local businesses on starting a new business, the business permitting processes, zoning, fees and regulations, incentives, financing, unique programs, and opportunities.  Create a fast-track permits and approvals system for businesses interested in opening or expanding in priority, under-served neighborhoods.

 

authority

Pursuant to the District of Columbia Comprehensive Plan Act of 1984, effective April 10, 1984 (D.C. Law 5-76; D.C. Official Code § 1-306.01 et seq.), the Comprehensive Plan for the National Capital: District Elements of 2006, effective March 8, 2007 (10 DCMR A300 through A2520) (“Comprehensive Plan”).

source

Comprehensive Plan Amendment Act of 2006, effective March 8, 2007 (D.C. Law 16-300) published at 54 DCR 924 (February 2, 2007); as amended by Comprehensive Plan Amendment Act of 2010, effective April 8, 2011 (D.C. Law 18-361), published at 58 DCR 908, 917 (February 4, 2011).

notation

The provisions of Title 10, Part A of the DCMR accessible through this web interface are codification of the District Elements of the Comprehensive Plan for the National Capital. As such, they do not represent the organic provisions adopted by the Council of the District of Columbia. The official version of the District Elements only appears as a hard copy volume of Title 10, Part A published pursuant to section 9a of the District of Columbia Comprehensive Plan Act of 1994, effective April 10, 1984 (D.C. Law 5-76; D.C. Official Code § 1 -301.66)) . In the event of any inconsistency between the provisions accessible through this site and the provisions contained in the published version of Title 10, Part A, the provisions contained in the published version govern. A copy of the published District Elements is available www.planning.dc.gov.