WDCEP's 2013 Annual Report


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The Washington, DC Economic Partnership's 2013 Annual Report highlights the major accomplishments and milestones that the WDCEP achieved in 2013 through our programs, initiatives and overall mission to facilitate economic development in the District of Columbia.

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WDCEP's 2013 Annual Report

  1. 1. R E NN 20 PO U A 13 RT L A
  2. 2. #WeChooseDC The WDCEP has advanced to be the leading source of information influencing business investment and perception about the District. Whether we are building the foundation for deals to happen or working directly with retail and office tenants to educate them on the opportunities DC has to offer, we at the WDCEP are continuously collaborating and partnering with those who choose DC.
  3. 3. For the past 13 years, the Washington, DC Economic Partnership has told the story of DC’s resurgence and branded DC as a premier location for all types of business and innovative ideas. Over those 13 years, DC has emerged as one of the strongest and most resilient economies in the country. During this time, the WDCEP has continued to be the leading source of information influencing business investment and perception about DC, as well as the chief connector bridging the public and private sectors, the business and real estate communities in the local market, and the business and real estate communities to national and international audiences. Whether we are building the foundation for deals to happen or working directly with retail and office tenants to educate them on the opportunities DC has to offer, we at the WDCEP are continuously collaborating and partnering with those who choose to do business in the District of Columbia. In 2013, our organization took on a more active role to promote DC nationally and internationally as a compelling place to do business. In addition to leading retail attraction efforts for the District of Columbia, we expanded and enhanced our programs and services to meet the needs of DC’s changing economy. We introduced a proactive communications strategy to promote DC as a prime location for business domestically, and internationally, through a variety of resources and marketing activities. As a result of this effort, we successfully raised awareness of DC’s thriving economy and business opportunities in major national and international publications. In an effort to attract new companies, talent and investment for DC’s technology sector, the WDCEP spearheaded a new initiative to promote DC as a growing technology hub in March of this year at SXSW, one of the largest technology conferences of its kind, held in Austin, Texas. This year marked the first year that DC had an official presence at the conference. Our organization also launched AccelerateDC, a new initiative that offers free and confidential mentoring for technology-based businesses in the DC area. AccelerateDC supports innovation and entrepreneurial activity throughout DC by providing entrepreneurs with the mentoring, advice, and help they need to develop their companies. The WDCEP is committed to ensuring that the District of Columbia continues to achieve economic development success now and into the future, and looks forward to working with our partners, supporters, DC entrepreneurs, businesses, and non-profits in the coming weeks, months, and years. The following pages showcase some of the major accomplishments and milestones that the WDCEP achieved in 2013 through our programs, initiatives and overall mission to facilitate economic development in the District of Columbia. We thank those of you for attending our programs, reading our publications and joining with us to move DC businesses forward in the last year. Keith Sellars President & CEO
  4. 4. Table of Contents 4 Business Attraction & Retention 12 Business Development 16 Site Location Assistance 20 Tools & Resources 24 Programs 28 About WDCEP
  5. 5. The Washington, DC Economic Partnership (WDCEP) is a 501(c)(3) nonprofit organization whose mission is to promote business opportunities throughout the District and contributes to business retention and attraction activities. Since 2001, the WDCEP’s efforts have positively influenced the District’s economy and contributed to significant job growth, tax revenue and real estate transactions. Attraction & Retention 64 WDCEP-assisted businesses opened in FY13 Location Assistance 875k+ SF of deals WDCEP helped facilitate in FY13 Marketing SXSW WDCEP led DC’s first official visit to South by Southwest
  7. 7. WDCEP ASSISTED BUSINESSES The businesses on the map either opened or announced expansion plans in FY2013. AND E ISL D RHO AVE NEW K YOR AVE H ST. UNION STATION E. CAPITOL ST. U.S. CAPITOL FORT DUPONT PARK NATIONALS PARK
  8. 8. Business Attraction & Retention ICSC / Neighborhood Tours / SXSW / Marketing 4
  9. 9. The WDCEP assists in the development of a vibrant and sustainable economy in the District of Columbia by marketing business and investment opportunities throughout the city. The WDCEP actively markets these opportunities by representing the District at industry tradeshows across the nation, conducting site tours in target market areas, and through national and international marketing campaigns. International Council of Shopping Centers (ICSC) Since 2001, the WDCEP has represented the District of Columbia at ICSC’s annual meeting which attracts more than 34,000 retailers, developers and brokers to Las Vegas. The event provides valuable face time in a business conference setting for investors to become more familiar with District of Columbia officials and economic development professionals. In 2013, the WDCEP conducted over 80 meetings with retailers and developers from across the nation demonstrating the District’s commitment to attracting high quality national and international retail establishments. This year there were over 400 individuals that visited the District’s booth during the three-day conference. In addition, the WDCEP hosted the 15th annual Capital Reception at RECon with an attendance of nearly 500 people. In addition to our Las Vegas efforts, the WDCEP represented the District at the two-day ICSC Mid-Atlantic Conference (National Harbor, MD). WDCEP’s RECon ICSC booth 6
  10. 10. Capital Reception at TAO SXSW As part of the WDCEP’s efforts to promote DC as a growing technology hub, the WDCEP organized and facilitated DC’s official on-the-ground presence at SXSW in March 2013, the most popular conference attracting technology industry leaders, entrepreneurs, programmers/developers, investors and tech media. The WDCEP brought together various partners from DC’s public and private sector to coordinate a strong comprehensive marketing campaign to promote the District’s vibrant tech sector to over 60,000 attendees from over 72 countries that attended the conference. DC’s SXSW delegation 7
  11. 11. Neighborhood RETAIL/RESTAURANT TOURS Throughout 2013, the WDCEP organized and executed three 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: Rhode Island Avenue & New York Avenue: • New York Avenue/Bladensburg Road • Rhode Island Avenue, NE • Brookland • North Capitol • Brentwood • Woodridge • Union Market • Fort Lincoln / Dakota Crossing Georgia Avenue: • Shaw • Howard University • Park View • Petworth • Brightwood Park • Brightwood • Walter Reed • Shepherd Park • Takoma • 16th Street Heights • Central 14th Street • Columbia Heights • 11th Street Emerging Markets: • Anacostia • Congress Heights • Deanwood • Fairlawn • Hillcrest • Lincoln Heights • Minnesota & Benning • Pennsylvania Avenue • Saint Elizabeths Steve Boyle, Managing Director, EDENS, provides an update on Union Market 8
  12. 12. St. Elizabeths West Campus tour Saint Elizabeths Academic & Research Anchors Tour As a prelude to the District government’s Request for Expressions of Interest (RFEI) for an academic anchor at the St. Elizabeths East Innovation Hub event, the WDCEP organized a bus tour for potential respondents. The tour featured updates on the economic development occurring in the neighborhoods adjacent to Saint Elizabeths East and a tour of the Saint Elizabeths West Campus with an update from GSA on the status of the U.S. Coast Guard headquarters. 9
  13. 13. Regional, National, and International Promotion of the DC Business Opportunities In 2013, the WDCEP expanded the its business attraction efforts to include a proactive strategic communications strategy to promote the District as a prime location for business domestically, and internationally, through a variety of resources and marketing activities. As a result of the strategy, the WDCEP was able to successfully raise awareness of the District’s thriving economy and business opportunities in major national publications, including Bloomberg, Engineering News Record, Forbes, Foreign Direct Investment, Globe Street, National Real Estate Investor, Progressive Grocer, Shopping Centers Business, and more. Social Media The WDCEP complimented its strategic communications strategy with targeted social media campaigns throughout FY13. A weekly Twitter campaign focusing on 50 neighborhoods helped to increase followers by 57% to 1,068. WDCEP’s 6,622 video views via YouTube resulted in 300 hours of users learning about the economic development opportunities in DC and more than 15,850 people reviewed presentations on how to do business in DC. WDCEP.com received more than 26,300 unique visitors and our Retail Site Search (wdceprss.dc.gov) and Development Search (search.wdcep.com) attracted another 4,600 unique visits. engage with the wdcep ON TWITTER SCRIBD YOUTUBE FACEBOOK LINKEDIN SLIDESHARE 10 FLICKR
  14. 14. WDCEP IN THE NEWS 11
  15. 15. Business Development Doing Business Guide / Educational Seminars 12
  16. 16. The WDCEP offers educational programming to foster growth, development, entrepreneurship and strategic relationship building among the city’s business community. We collaborate with the Government of the District of Columbia, community and workforce development organizations, local universities, and private entities to promote a businessfriendly environment in the District. To help businesses grow and thrive here in our nation’s capital, we provide access to key resources and services, including economic incentives and programs; lease and site location assistance; workforce development assistance; statistics and demographics; and a network of partner organizations. DC Doing Business Guide The DC Doing Business Guide 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 guide 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 FY13, the WDCEP partnered with the DC Department of Small & Local Business Development to offer an e-pub version, available in the iBooks, Barnes & Noble (Nook), Amazon Kindle, and eBookPie stores. Released in December 2012, the e-pub was downloaded 385 times. The Doing Business in DC was also published in Spanish, courtesy of a partnership with the DC Department of Consumer and Regulatory Affairs, demonstrating the District’s commitment to inclusivity. 14
  17. 17. DOING BUSINESS 2.0 Doing Business 2.0 is the live version of the WDCEP’s DC Doing Business Guide. These essential entrepreneurial topics are brought to life through a monthly panel discussion focused on each of its thirteen chapters. Topics ranged from initial business start-up considerations to business financing. Entrepreneurs and business owners gained access to some of the city’s top thought leaders and have the opportunity to network with both panelists and other attendees. In WDCEP’s effort to attract, retain, and grown business in the District, this initiative is a critical educational tool and resource for all those doing business in the nation’s capital. DSLBD CBE presentation ACCELERATE DC VENTURE MENTORING SERVICE In 2013, the WDCEP launched a new business development initiative for the District’s technology community—the AccelerateDC Venture Mentoring Service. AccelerateDC was formed to support innovation and entrepreneurial activity throughout the District by connecting emerging entrepreneurs with experienced mentors. Building on the highly successful model of the MIT Venture Mentoring Service, Accelerate DC VMS uses a teambased approach to mentoring where entrepreneurs are paired with a team of 4-5 experienced mentors who offer a wealth of knowledge, entrepreneurial business experience, and extensive networks to young entrepreneurs. AccelerateDC launch event 15
  18. 18. Site Location Assistance Retail & Restaurants / Real Estate Facilitation 16
  19. 19. The WDCEP works with a variety of businesses, from small businesses to large corporations, to help them find the ideal location to fit their business needs. The WDCEP informs businesses of available opportunities, provides data on demographics and business incentives, connects them to appropriate property representatives, and guides them through the processes of opening their business in the District. BUSINESS ATTRACTION/RETENTION 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 initiatives have led to over 875,000 square feet of new deals and openings in FY 2013. These efforts have led to thousands of new jobs and millions of additional tax revenue for the District. DC’s first Costco opened in November 2012 18
  20. 20. Success Stories In FY 2013, 64 WDCEP-assisted businesses opened their doors. Below is a select list of retailers that either opened or announced expansion plans in the past year. 19
  21. 21. Tools & Resources Business Tools / Research / Publications 20
  22. 22. With so much information available today it can be hard to know where to start and what resources to use. The WDCEP is your “one-stop shop” for economic development data. Whether it is site location assistance, neighborhood demographics or development information, the WDCEP has it readily available. In order to distribute this information as widely as possible, the WDCEP uses GIS technology for “virtual tours,” offers an interactive website for site location assistance, produces business-friendly publications and posts events and educational seminars on WDCEP.com, its YouTube site (youtube. com/wdcep1495), and its Twitter account (@WDCEP). Publications DC Development Report: 2012/2013 Edition The DC Development Report is an annual publication that gives a comprehensive overview of development and 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 inform their clients and constituents about the development occurring in the District. The DC Development Report: 2012/2013 Edition is a compilation of nearly 12 years of data collection on approximately $83.5 billion in development within the District. This year’s report summarized nearly 1,400 development projects in the District, detailed the development trends and highlighted the major projects in the office, retail, residential, hospitality and education markets, and revealed trends about the projects expected to deliver in 2013 and 2014. In addition, WDCEP partnered with CBRE to provide an economic and development overview of DC and in-depth analysis of the office, retail, and residential markets. The information found in the DC Development Report is the result of WDCEP’s annual development census which compiles research and data from more than 120 developers, architects, contractors and economic development organizations each year. 22
  23. 23. 2013 Neighborhood Profiles Finding information on DC’s neighborhoods is greatly simplified with the WDCEP’s Neighborhood Profiles book. This year’s publication provides snapshots for 50 DC neighborhoods (an increase from 37 in 2012), commercial corridors, and New Communities Initiatives. Each profile contains a brief description of the neighborhood, a local map, demographic information on area residents, photos and more. The 2013 Profiles were updated with the latest demographic information, updated Metrorail counts, area highlights, an overview section recapping DC’s population and retail market growth, as well as the Main Street programs and Great Streets Initiatives for retailers and small businesses. The WDCEP works with its local partners to make sure that each profile is upto-date on the latest economic development news and developments. Development Search The WDCEP tracks the more than $84 billion development dynamic that is shaping the District of Columbia. The WDCEP’s Development Search tool allows online users to search over 1,450 development projects that have been completed in the District since 2001, under construction or in the pipeline. Retail Site Search In order to help national and local retailers and restaurants find space in DC, the WDCEP offers an online tool—the Retail Site Search. The interactive search allows retailers to query more than 430 retail opportunities by size, neighborhood, time frame and address or intersection. The information on each site includes the space available for lease, Metrorail and traffic counts, neighborhood demographics, images of the space and leasing contacts. The tool integrates technologies and data from Google Maps & Streetview, DCGIS, OCTO and the WDCEP. Beyond the retail site information a user can also learn what the zoning is around a site or determine the size of an adjacent parcel using the map layers function. The tool can be accessed from the WDCEP’s website, www.wdcep.com. 23
  24. 24. Programs Annual Meeting & Development Showcase / Internship Program 24
  25. 25. Annual Meeting & Development Showcase 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 over 600 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, Councilmember Muriel Bowser, Councilmember Jack Evans, and the keynote address provided by the noted economic forecaster and head of the Kiplinger Publishing Foundation, Knight Kiplinger. The WDCEP presented an Economic Development Leader award to the Honorable Congresswoman Eleanor Holmes Norton for her outstanding commitment to business and economic development in the District. The award was presented to the Congresswoman by Donna Woodall, Microsoft’s Northeast Citizenship & Public Affairs Director. Provident-Howard University was presented with the second annual Michael V. Hodge Revenue Bond Deal of the Year Award. The award was presented by Gregory Johnson 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. Eleven 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. 26
  26. 26. About WDCEP Staff / Board of Directors / Financials 28
  27. 27. With a full-time staff of eight people, the WDCEP relies on its board, sponsors and community partners to help fulfill its mission. BOARD MEMBERS (FY 2013) Victor Hoskins / Co-Chair Deputy Mayor Office of the Deputy Mayor for Planning & Economic Development Kenneth Brewer Executive Director H Street CDC Donna M. Cooper President, Pepco Region Pepco Richard Lake / Co-Chair Managing Principal Roadside Development Grant M. Ehat Principal JBG Rosenfeld Retail Olivia Shay-Byrne / Vice Chair Partner Reed Smith, LLP Jennifer Eugene / Secretary Manager, Engineered Sales Washington Gas Angela Franco President & CEO Greater Washington Hispanic Chamber of Commerce Keith Sellars / President President & CEO Washington, DC Economic Partnership Brett Greene President and CEO American Management Corporation Jenifer Huestis Boss / DMPED Representative Interim Director of Business Development Office of Planning & Economic Development Carl Hairston Regional Manager Business & Professional Banking Group, M&T Bank Stan Jackson President & CEO Anacostia Economic Development Corporation Joseph Askew Vice President, Government Relations Verizon Steven C. Boyle Managing Director EDENS Ernest Drew Jarvis Senior Vice President First Potomac Realty Trust, DC Building Industry Association Jean-Luc Brami Vice President Gelberg Signs Norman Jemal Vice President Douglas Development Corporation 30
  28. 28. STAFF Keith Sellars President & CEO Anna Lee Ney Operations Manager Chad Shuskey Senior Vice President Research & Visual Communications Galen Lawson Graphic Designer Tiffany Thacker Director, Business Attractions & Marketing Daour Diawara Manager, Business Development Matthew Kruczlnicki Research Analyst Rachel Plourde Administrative Associate Greg Leisch Founder & Chief Executive Delta Associates Tara Scanlon Partner Holland & Knight Nicholas A. Majett Director Department of Consumer & Regulatory Affairs Michael Stevens President Capitol Riverfront BID Chris Niehaus Director U.S. Office of Civic Innovation, Microsoft Robert Summers Director Department of Small & Local Business Development Tom Nida Regional President United Bank Adam Volanth Principal – Mid-Atlantic Bohler Engineering Scott Nordheimer Senior Advisor Urban Atlantic Mitch Weintraub Partner Cordia Partners Gregory O’Dell President and CEO Events DC Phillip Quintana Senior Vice President Mid-Atlantic Middle Market Banking, Capital One Marc Ratner Chief Executive Officer Streetsense Eric E. Richardson Agency Director DC Office of Cable Television & Telecommunications 31
  29. 29. Financials Year Ended 09/30/12 (audited) Assets Cash Other Assets Total Assets $525,461 $104,157 $629,618 Liabilities & Net Assets Liabilities Net Assets Total Liabilities & Net Assets   $272,464 $357,154 $629,618 Total Revenue Total Expenses $2,705,193 $2,549,673 Change in Net Assets $155,520 Year Ended 09/30/13 (UNaudited) Assets Cash $299,429 Other Assets $242,311 Total Assets $541,740 Liabilities & Net Assets   Liabilities $328,248 Net Assets $213,492 Total Liabilities & Net Assets $541,740 Total Revenue $1,997,162 Total Expenses $2,097,074 Change in Net Assets ($99,912) * Complete financial statements are available at the WDCEP. 32
  30. 30. We are a non-profit, public/private partnership whose mission is to facilitate economic development through business retention and attraction activities. Through our network of partners we promote, inform and sell DC as a place for business. Entrepreneurs and artists, along with budding technology gurus and non-profit visionaries, all come to us for guidance and assistance in mapping out their strategies for success. Whether you plan to start a District-based business, make your existing business more competitive, wish to connect to development and retail opportunities, or simply want to use our research to make better-informed decisions, think of the WDCEP as your economic development resource. 1495 F Street, NW Washington, DC 20004 202.661.8670 www.wdcep.com