2012 WDCEP Annual Report


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The Washington, DC Economic Partnership's (WDCEP) 2012 Annual Report.

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2012 WDCEP Annual Report

  2. 2. Since 2001, the Partnership has advanced to be the leading source of information influencingbusiness investment and perception about the District. Whether we are building the foundationfor deals to happen or working directly with retail and office tenants to educate them onthe opportunities DC has to offer, we at the Partnership are continuously collaborating andpartnering with those looking to move DC forward.As the Partnership transitioned over the past year, we took a hard look at ourselves andmade necessary adjustments to ensure we provide the utmost value to the DC businesscommunity and all of our partners. To achieve this, we restructured our work programsand initiatives to be more efficient and in line with the city’s economic developmentobjectives, revamped our existing services, and assessed our economic impact on theDistrict of Columbia.In 2012, the Partnership continued to play a pivotal role for the District as the lead organizerat ICSC conferences, providing the city with a seamless interface for its business attractionefforts. In addition to our business information seminars and rapid response assistance, wealso re-introduced our popular neighborhood site tours to showcase available opportunitiesin the city’s emerging neighborhoods.We also revamped and updated our ever popular economic development publications,including the DC Neighborhood Profiles, DC Development Report, and the DC DoingBusiness Guide. These publications are available on our innovative online platform, alongwith research, demographics, data and economic development databases such as theDevelopment Search and Retail Site Search will continue to be made available to the public.And finally, we hired Delta Associates to assess the impact of the Partnership’s effortson the District of Columbia. Delta Associates researched over 100 businesses that thePartnership has worked with, primarily national retailers and a mix of commercial tenants.The findings are remarkable! The analysis found our efforts are expected to result in thecreation of almost 8,000 jobs in the District of Columbia, the generation of $53.6 million peryear in sales tax revenue for DC, and 3 million square feet of new leases and commitmentsin office buildings, shopping centers, and mixed-use projects throughout the District. Thisanalysis is an important step for us, because it provides our organization the structure forongoing self-evaluation – something that we’ve never had before.This report highlights just some of our accomplishments this year—a year in which weundertook a record number of research and educational programs, reached out to asignificant number of businesses and organizations, and generated even more enthusiasmabout the District. The Partnership is committed to ensuring that the District of Columbiacontinues to achieve economic development success now and into the future, and looksforward to working with our partners, supporters, DC entrepreneurs, businesses, and non-profits in the coming weeks, months, and years. Keith Sellars President & CEO WDCEP 2012 Annual Report 1
  3. 3. The Washington, DC Economic Partnership (WDCEP) is a 501(c)(3) non-profit organization whose mission is to promote business opportunities throughout the District and contributes to business retention and attraction activities. Since 2000, the WDCEP’s efforts have positively influenced the District’s economy and contributed to significant job growth, tax revenue and real estate transactions. TABLE OF CONTENTS 1 Letter from the President & CEO 4 RETAIL ATTRACTION & RETENTION 10 BUSINESS DEVELOPMENT 14 SITE LOCATION ASSISTANCE 18 MARKET TOOLS & RESOURCES 22 PROGRAMS 26 WDCEP2 Washington, DC Economic Partnership WDCEP 2012 Annual Report 3
  4. 4. RETAIL ATTRACTION& FACILITATIONICSC | Neighborhood Tours WDCEP’s booth at ICSC Mid-Atlantic, February 2012
  5. 5. The WDCEP assists in the development of a vibrant and sustainable retail base in the District of Columbia by marketing retail and investment opportunities throughout the city. The WDCEP actively markets these opportunities by representing the District at industry tradeshows across the nation and conducting site tours in target market areas. Attendees of the WDCEP Capital Reception at ICSC 2012 District’s booth during the first two days of the conference. The WDCEP also hosted the 14th annual Capital Reception at RECon, drawing a record-breaking attendance with over 500 people. In addition to our Las Vegas efforts, the WDCEP represents the District annually at the ICSC Mid-Atlantic (Washington, DC) and ICSC New York (New York, NY) conventions. WDCEP’s booth at ICSC’s RECon 2012, Las Vegas PROMOTING PUBLIC/PRIVATE SECTOR DEALS INTERNATIONAL COUNCIL OF SHOPPING The WDCEP promoted the following sites/RFPs/RFOs on behalf of the Office of CENTERS (ICSC) the Deputy Mayor for Planning & Economic Development and the Department of Since 2001, the Washington, DC Economic Partnership has represented the District General Services: of Columbia at ICSC’s annual meeting RECon, which attracts more than 30,000 • DOES Headquarters (4058 Minnesota Avenue, NE) retailers, developers and brokers to Las Vegas. The event provides valuable face • Eastern Market (225 7th Street, SE) time in a business conference setting for investors to become more familiar with • One Judiciary Square (441 4th Street, NW) District of Columbia officials and economic development professionals. In 2012, the • Reeves Center (2000 14th Street, NW) WDCEP conducted over 80 meetings with retailers and developers from across the • St. Elizabeths Gateway Pavilion nation, demonstrating the District’s commitment to attracting high quality national and international retail establishments. In addition, over 400 individuals visited the • Walter Reed6 RETAIL ATTRACTION & RETENTION | Washington, DC Economic Partnership WDCEP 2012 Annual Report 7
  6. 6. NEIGHBORHOOD/MAJOR PROJECTS TOURS Throughout 2012, the WDCEP organized and executed five neighborhood tours in partnership with the Office of the Deputy Mayor for Planning and Economic Development (DMPED). Joined by DC government officials, brokers, property owners, entrepreneurs, and service providers, the WDCEP led these neighborhood tours to showcase retail and investment opportunities along the following major commercial corridors: • Good Hope Road, Alabama & Martin Luther King Jr. Avenues, SE • Georgia Avenue & 14th Street, NW • Pennsylvania Avenue, SE & Minnesota Avenue, NE • Rhode Island & New York Avenues, NE • Walter Reed site tour 8 RETAIL ATTRACTION & RETENTION | Washington, DC Economic Partnership WDCEP 2012 Annual Report 9 Select tour highlightsThe DC BAR Pro Bono Program is presented with the 2010 Small Business Initiative of the Year award
  7. 7. BUSINESS DEVELOPMENTDoing Business Guide | Educational Seminars | International Delegations Doing Business 2.0 seminar on finding talent
  8. 8. The WDCEP offers educational programming to foster growth, development, DOING BUSINESS 2.0 entrepreneurship, and strategic relationship building among the city’s business Doing Business 2.0 is the live version of the WDCEP’s DC Doing Business Guide. The community. We collaborate with the Government of the District of Columbia, community publication—a step-by-step guide for entrepreneurs who want to start or expand and workforce development organizations, local universities, and private entities to a business in DC—is brought to life through a panel discussion focused on each of promote a business-friendly environment in the District. To help businesses grow its thirteen chapters. Topics range from initial business start-up considerations to and thrive here in our nation’s capital, we provide no-fee access to key resources business financing. Entrepreneurs and business owners will gain access to some and services, including economic incentives and programs, lease and site location of the city’s top thought-leaders and have the opportunity to network with both assistance, workforce development assistance, statistics and demographics, and a panelists and other attendees. In WDCEP’s effort to attract, retain, and grow network of partner organizations. businesses in the District, this initiative is a critical educational tool and resource for all those doing business in the nation’s capital. DC DOING BUSINESS GUIDE INTERNATIONAL DELEGATION HOSTING Throughout 2012, the WDCEP hosted the following delegations in an effort to assist the District with its international outreach goals: City of Sunderland, England; Moroccan delegation; Colombia trade mission; Sao Paulo, Brazil Delegation; and a Colombia delegation. This publication is a guide that provides step-by-step essentials for starting, expanding, or relocating your business in DC—including detailed information on business resources, regulations, and requirements. Now in its seventh edition, the Doing Business in DC publication is printed bi-annually, offered online, and distributed to DC’s Business resource centers, Business Improvement Districts, government agencies, nonprofits and community development corporations. In FY12, the WDCEP partnered with the DC Department of Small & Local Business Development and the DC Department of Consumer & Regulatory Affairs to offer this guide in both Spanish and e-publication editions. The e-publication is available in iBooks, Barnes & Noble (Nook), Amazon Kindle and eBookPie stores.12 BUSINESS DEVELOPMENT | Washington, DC Economic Partnership WDCEP 2012 Annual Report 13
  9. 9. SITE LOCATIONASSISTANCERetail & Restaurants | Corporate Recruitment | Real Estate Facilitation Washington, DC’s first Costco opened in November 2012
  10. 10. The WDCEP works with a variety of businesses, from entrepreneurs to large SUCCESS STORIES corporations, to help them find the ideal location to fit their business needs. Since its inception, the WDCEP’s efforts have led to more than 70 retailers and The WDCEP informs businesses of available opportunities, provides data on restaurants opening or expanding their operations in the District of Columbia. demographics and business incentives, connects them to appropriate property The following businesses have either opened or made a commitment to open in representatives, and guides them through the processes of opening their business DC as a result of WDCEP’s work in FY 2012: in the District. CORPORATE RECRUITMENT The WDCEP informs businesses, developers and investors of the opportunities in DC and its neighborhoods, connects them to appropriate government agencies, and helps to create partnership within the private sector. WDCEP’s retail and office attraction efforts have led to over 3.0 million square feet of new leases and development transactions. This past year, the WDCEP has assisted directly or assisted the DMPED with the following organizations in their expansion or relocation efforts: • agencyQ • Association of American Medical Colleges • BUILD • Height Analytics • JMT Technology Group • SB Nation • Spinnakr • Social Driver16 SITE LOCATION ASSISTANCE | Washington, DC Economic Partnership WDCEP 2012 Annual Report 17
  11. 11. MARKET TOOLS& RESOURCESBusiness Tools | Research | Publications
  12. 12. With so much information available today it can be hard to know where to start and Profiles were updated with the latest demographic information, updated Metrorail what resources to use. The WDCEP is your “one-stop shop” for economic development counts, area highlights, a new overview section recapping DC’s retail market growth data. Whether it is site location assistance, neighborhood demographics, or in 2011, and a compendium of data on major commercial corridors, as well as the development information, the WDCEP has it readily available. In order to distribute Main Street programs and Retail Incentive Programs for retailers and small businesses. this information as widely as possible, the WDCEP uses GIS technology for “virtual The WDCEP works with its local partners to make sure that each profile is up-to-date tours,” offers an interactive website for site location assistance, produces business- on the latest economic development news and developments. The profiles were first friendly publications, and posts events and educational seminars on WDCEP.com, produced in 2001. its YouTube site (youtube.com/wdcep1495), and its Twitter account (@WDCEP). DEVELOPMENT SEARCH PUBLICATIONS The WDCEP tracks the $80 billion development dynamic that is shaping the District DC Development Report: 2011/2012 Edition of Columbia. The WDCEP’s Development Search tool allows online users to search Image courtesy of City Partners LLC DC Development Report The DC Development Report is an annual publication over 1,370 development projects that have been completed in the District since DC Development Report 2011/2012 edition 2011/2012 edition that gives a comprehensive overview of development and 2001, under construction or in the pipeline. construction activity in the District of Columbia. The DC Development Report has long been a tool used by public officials, developers, brokers, and investors looking to RETAIL SITE SEARCH inform their clients and constituents about the development Energy Creates Opportunity In order to help national and local retailers and restaurants find space in DC, occurring in the District. The 2011/2012 report summarized 2/21/12 9:46 AM the WDCEP, in coordination with the DC GIS, created an online tool – the Retail DC’s over 1,370 development projects in various stages, detailed the development Site Search. The interactive search allows retailers to query more than 300 retail trends and highlighted the major projects in the office, retail, residential, hospitality opportunities by size, neighborhood, timeframe, and address or intersection. The and education markets, and highlighted development trends seen in DC over the information on each site includes the space available for lease, Metrorail and traffic past 10+ years. The information found in the DC Development Report is the result of counts, neighborhood demographics, images of the space, and leasing contacts. WDCEP’s annual development census which compiles research and data from more The tool integrates technologies and data from Google Maps & Streetview, DCGIS, than 135 developers, architects, contractors and economic development organizations OCTO, and the WDCEP. Beyond the retail site information, a user will also be able each year. to learn what the zoning is around a site or determine the size of an adjacent parcel DC NEIGHBORHOOD PROFILES 2012 2012 Neighborhood Profiles using the map layers function. The tool can be accessed from the WDCEP’s website, Finding information on Washington’s neighborhoods is greatly www.wdcep.com. simplified with the WDCEP’s Neighborhood Profiles book. This publication provides snapshots of 37 DC neighborhoods. Each profile contains a brief description of the neighborhood, a local map, demographic information on area residents, photos, and more. With a new layout and design, the 201220 MARKET TOOLS & RESOURCES | Washington, DC Economic Partnership WDCEP 2012 Annual Report 21
  13. 13. PROGRAMSAnnual Meeting & Development Showcase Development Showcase, December 2012
  14. 14. ANNUAL MEETING & DEVELOPMENT SHOWCASE (AMDS) Since 2001, the WDCEP’s Annual Meeting & Development Showcase (AMDS) has been the premier gathering of DC’s top business and community leaders to celebrate the District’s vibrant economy. The half-day program began with the Development Showcase, the largest event of its kind, featuring over 50 exhibitors representing almost every major commercial, retail, and housing development in the District. The Development Showcase was followed by the Annual Meeting, which attracted almost 700 attendees, featuring DC’s top business leaders, entrepreneurs, real estate professionals, and local government officials. The WDCEP’s Annual Meeting featured a great lineup of speakers, including opening remarks by Mayor Vincent C. Gray, remarks by Deputy Mayor Victor Hoskins, and the keynote address provided by Former Mayor of Washington, DC, and current CEO of Federal City Council, Anthony “Tony” Williams. Williams spoke about the use of domestic funds to support infrastructure projects abroad and the need for DC to utilize public-private partnerships to attract some of that investment to the city. The United Negro College Fund (UNCF) won the first annual Michael V. Hodge Revenue Bond Deal of the Year Award, which was presented by William Liggins, Director of the DC Revenue Bond Program. INTERNSHIP PROGRAM The WDCEP understands the importance of mentorship and fellowship for the District’s developing workforce. We offer internship opportunities for students located in our city. Eight students interned in the WDCEP office this year, providing research, business development, location mapping, event planning, and programming support. We believe that the future of the District’s economic resurgence is impacted by the experience and opportunities of its youth.24 PROGRAMS | Washington, DC Economic Partnership WDCEP 2012 Annual Report 25
  15. 15. WDCEPStaff | Board of Directors | Financials
  16. 16. STAFF With a full-time staff of only eight people, Keith Sellars Chad Shuskey the WDCEP relies on its board, sponsors President & CEO Senior Vice President, Research & Visual Communications Natasha Olinger and community partners to help fulfill Manager, Office Operations Tiffany Thacker Director, Research & Communications Daour Diawara its mission. Manager, Business Development Emily Ades Graphic Designer Matthew Kruczlnicki Research Analyst Rachel Plourde Administrative Associate BOARD MEMBERS (FY 2012) Victor Hoskins | Co-Chair Michael Barnett Brett Greene Gregory O’Dell Deputy Mayor Senior Vice President President and CEO President and CEO Office of the Deputy Mayor for Chase Commercial Banking, American Management Corporation Events DC Planning & Economic Development JPMorgan Chase Kimberly Henderson Harold B. Pettigrew, Jr. Olivia Shay-Byrne | Co-Chair Steven C. Boyle Manager Director Partner Managing Director Commercial and Institutional Department of Small & Local Business Reed Smith, LLP Edens & Avant Programs, DC Sustainable Energy Development Utility Richard Lake | Vice Chair Jean-Luc Brami Marc Ratner Managing Principal Vice President Albert “Butch” R. Hopkins Jr. Chief Executive Officer Roadside Development Gelberg Signs (Michael Wallach) Streetsense President & CEO Mitch Weintraub | Secretary Donna M. Cooper Eric E. Richardson Anacostia Economic Development Partner Regional Vice President Agency Director Corporation Cordia Partners Pepco DC Office of Cable Television & Ernest Drew Jarvis Telecommunications Michael Stevens | Treasurer Grant M. Ehat Senior Vice President Executive Director Principal William P. White First Potomac Realty Trust, Capitol Riverfront BID JBG Rosenfeld Retail Commissioner DC Building Industry Association Department of Insurance, Securities Keith Sellars | President Jennifer Eugene Norman Jemal & Banking President & CEO Manager Specialty Sales Vice President Washington, DC Economic Partnership Washington Gas Douglas Development Corporation David Zipper | DMPED Representative Henry S. Fonvielle Greg Leisch Director of Business Development President Founder & Chief Executive & Strategy The Rappaport Companies Delta Associates Office of Planning & Economic Angela Franco Development Nicholas A. Majett President & CEO Director Neil Albert Greater Washington Hispanic Chamber Department of Consumer & Senior Policy Advisor of Commerce Regulatory Affairs Holland & Knight Darrin Glymph Scott Nordheimer Joseph Askew Partner Senior Advisor Vice President, Government Relations Orrick, Herrington, & Sutcliffe, LLP Urban Atlantic Verizon28 Washington, DC Economic Partnership WDCEP 2012 Annual Report 29
  17. 17. FINANCIALS* YEAR ENDED 09/30/11 (AUDITED) Assets Cash $260,764 Other Assets $172,166 Total Assets $432,930 Liabilities & Net Assets   Liabilities $129,087 Net Assets $102,209 Total Liabilities & Net Assets $432,930 Total Revenue $1,771,758 Total Expenses $2,254,342 Change in Net Assets ($482,584) YEAR ENDED 09/30/12 (UNAUDITED) Assets Cash $525,461 Other Assets $104,157 Total Assets $629,618 Liabilities & Net Assets   Liabilities $272,464 Net Assets $357,154 Total Liabilities & Net Assets $629,618 Total Revenue $1,567,061 Total Expenses $1,455,291 Change in Net Assets $111,770 * Complete financial statements are available at the WDCEP.30 Washington, DC Economic Partnership
  18. 18. We are a non-profit, public/private partnership whose mission is tofacilitate economic development through business retention and attractionactivities. Through our network of partners we promote, inform and sellDC as a place for business. Entrepreneurs and artists, along with buddingtechnology gurus and non-profit visionaries, all come to us for guidanceand assistance in mapping out their strategies for success. Whether youplan to start a District-based business, make your existing business morecompetitive, wish to connect to development and retail opportunities, orsimply want to use our research to make better-informed decisions, thinkof the WDCEP as your economic development resource.1495 F Street, NW Washington, DC 20004 | 202.661.8670 | www.WDCEP.com