D.C.'s Resurgence Results in Big Dollars
posted 1:54 pm Thu November 29, 2007 - Washington
A report from the Downtown D.C. Business Improvement District shows that the central business district contributed $624 million in tax revenue over the past fiscal year, or more than half the local funds dedicated to the city's public school system. In the past 10 years, it has created more than 60,000 jobs and generated hundreds of millions of dollars annually in tax revenue.
The business improvement district's executive director, Richard Bradley, calls downtown business the fuel that allows the mayor and the council to meet the social and economic needs of the city.But he said the city government needs to deal with competition from the suburbs and must continue to invest resources downtown, including lobbying Metro to add subway cars and reinvigorating K Street.
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