2011 was a strong year for the DowntownDC BID area and DC economies. The basic building blocks of any economy—employment and population—grew at a robust rate in both absolute and relative terms. Employment in the DowntownDC BID area and DC grew at 0.6% and 2.2%, respectively. The population in the DowntownDC BID area rose by 1%, and 2.7% in DC. New residential construction will increase the number of Downtown residents by another 5%—to 19,000 in the next few years. Regionally, DC expanded its market share, growing to 24.2% of the area’s employment and 11% of its population. This growth should continue over the next five to 15 years, particularly if the city continues to invest in strategic economic and social development projects in Downtown, the Center City and its neighborhood commercial districts. The economic development investments should focus on Metrorail maintenance, transit alternatives and urban placemaking. Modest reductions in the city’s high commercial property and income tax rates should also be explored to retain/attract employers in/to DC…
