DMPED is updating Washington, DC’s economic development strategy to guide economic development efforts for the next five years. The new strategy will replace DC’s current Economic Strategy, which expires in 2022. See below for more details.
The new strategy will focus on how economic development efforts can drive tax revenue, resident economic mobility, and business vitality and competitiveness, taking into account the enduring effects of the pandemic. It will establish new goals, metrics, and plans for action and build on recent work, including the District’s Comprehensive Plan and the Mobility Action Plan, a new framework for resident mobility that visualizes how DC residents might take advantage of District housing, financial well-being, and workforce programs to reach their personal and financial goals. Strategy development will also be informed by related efforts currently in progress, including the Build Back Better Infrastructure Task Force and Tax Revision Commission. The final plan will be released in early 2023.
Ultimately, the plan will serve as the District’s Comprehensive Economic Development Strategy (CEDS), which will be submitted to the U.S. Economic Development Administration. Having an active CEDS enables nonprofits, universities and other entities located within the District to apply for EDA grants and other resources.
Residents, community leaders, and business stakeholders are encouraged to provide their perspective by completing our DC Economic Strategy Input Form.This webpage will be periodically updated with progress and other opportunities for engagement. If you want to get in touch with the Economic Strategy team, email us at [email protected].