Washington Business Journal by Daniel J. Sernovitz
D.C. Mayor Muriel Bowser vowed Friday to ensure the District has its shot at all of the major economic development prospects that come to the fore in the Washington region, despite increasingly strong competition from Maryland, Virginia and beyond.
Citing recent decisions by tech firms like The Advisory Board Co. and Blackboard Inc. to keep their headquarters in Washington, Bowser said she has put increasing emphasis since taking office nearly a year ago on both retaining and competing for business, a position that may not have always been as high a priority in the District in the past.
"The District is going to be at the table for every single deal," Bowser said during the Washington, D.C. Economic Partnership's annual meeting Friday afternoon. Bowser said her administration has made a concerted effort to compete not just for local economic development prospects but to national and international firms considering new locations, including sending a delegation to China next week.
In an interview following her remarks, Bowser said she believes the District is still an attractive place for companies to locate but that the city cannot take those businesses for granted. She acknowledged criticism from some that the District runs the risk of throwing money at The Advisory Board to do something it was going to do anyway. At the same time, she said no one has a crystal ball, and it is impossible to determine what the Advisory Board (NASDAQ: ABCO) would do without the District's intervention. That is why it is important for the District to have tools at its disposal to level playing field with surrounding jurisdictions that are also competing for the same companies, she said.
"It's important that we have a strong business case," she said.
Bowser also noted the District is also committed to seeing development across the Washington, pointing to projects like a Washington Wizards practice facility at St. Elizabeths and the planned redevelopment of the former Walter Reed Army Medical Center.
Deputy Mayor of Planning and Economic Development Brian Kenner, in his remarks to the crowd, said the bigger picture with the District's intervention with both Advisory Board and Blackboard are to send a message that "D.C.'s open for business in a way we haven't in the past."
The mayor's remarks came as the economic partnership revealed a new development report highlighting roughly 159 million square feet of development that is either under construction or in the pipeline, 78 percent of which will be built within a half-mile radius of a Metro station. The highest concentration is near the NoMa-Gallaudet U station, with 22.1 million square feet of future development with major projects like Douglas Development Corp.'s Uline Arena redevelopment and Edens' ongoing efforts to reshape the Union Market and surrounding area. The next biggest concentration is by the Navy Yard-Ballpark Metro station, with 15.7 million square feet of future development.