PRESS RELEASE
Release Date: Thursday, July 10th 2008
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FOR IMMEDIATE RELEASE |
CONTACT: |
Karen Sibert |
DOWNTOWN DC BUSINESS IMPROVEMENT DISTRICT
CHRONICLES SUCCESSFUL YEAR
Strong Partnerships, Innovative Programming Fuel Achievements
WASHINGTON, DC - The Downtown DC Business Improvement District (BID) has released its 2007 Annual Report, which highlights the organization’s accomplishments and goals in key areas, including safety, hospitality and maintenance, economic development, transportation, physical improvements and marketing and special events. Because of these activities and programs, the Downtown BID continued to improve Downtown’s economic growth and image, provide premier business services to enhance the public environment, promote business development and market the area to new investors.
“It has always been our goal to create a vibrant, inviting and smart place where people from all walks of life can create and share remarkable experiences,” says Richard Bradley, executive director of the Downtown BID. “No longer perceived as ‘dull, dirty and dangerous,’ the Downtown BID area now provides a remarkable urban experience as the cultural and entertainment epicenter of the region. We aim to build on the momentum gained thus far to continue to develop a successful framework for the future.”
In 2007, the Downtown BID successfully renewed its legislative charter for another five years through fiscal year 2012 and planned for its 10th anniversary and a decade of great public and private cooperation that helped position Downtown DC as an international model of urban ingenuity. In addition, the Downtown BID embarked on a new set of values and attributes to extend the legacy of the past into the future, established firm partnerships with the federal and municipal governments and launched successful initiatives to address ongoing problems such as traffic congestion and homelessness.
Some report highlights are as follows:
The Downtown BID area continued to serve as a significant contributor to DC’s fiscal resurgence with a net fiscal impact estimated at more than $644 million for fiscal year 2007, or 58% of DC public school’s locally funded budget. In addition, the Downtown BID area added two million square feet of office space and 481 new residential units last year. Meanwhile, several exciting development projects also made their way onto the Downtown landscape, including the Shakespeare Theatre Company’s Harman Center for the Performing Arts and the new Kogod Courtyard shared by the Smithsonian
“Downtown’s remarkable renaissance from 1997 through 2007,” according to Mayor Adrian Fenty, “has made it the economic and fiscal engine of the city, responsible for more than 90% of the net new jobs in DC and a net fiscal impact” in excess of $600 million in fiscal 2007, “thus, making it clear that the prosperity of Downtown and the prosperity of all other DC neighborhoods go hand-in-hand.”
The report pinpoints several Downtown BID goals, including the following:
For more details and insights, the annual report is available at www.downtowndc.org/annualreport.
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