BID Testimony Supporting Advisory Board Company Tax Incentive Package

Economic Development

COMMITTEE ON FINANCE AND REVENUE
CHAIRMAN JACK EVANS

Public Hearing on
B21-353, “Local Jobs and Tax Incentive Act of 2015”

Wednesday, October 28, 2105
Revision of Testimony Submitted on
Wednesday October 14, 2015 10:00 a.m.
John A. Wilson Building, Room 500

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DowntownDC BID Testimony for the Advisory Board Company

On Wed. Oct. 14, 2015, the DowntownDC Business Improvement District's (BID) Director of Economic Development Gerry Widdicombe, delivered testimony to the D.C. Council's Committee on Finance and Revenue on behalf of the BID in support of a tax incentive package for the Advisory Board Company (ABC). Support was based on an analysis of the significant tax revenue loss for the city if ABC relocated outside of D.C. and the positive net present value from new tax revenues that would likely follow any incentive payment to ABC.