News & Reports > Reports > 2008 Economic Brief 
Downtown 2008 Economic Brief
February 2009 PDF [214 KB]
The Downtown BID has assembled statistics for a year-end review of 2008, released as the 2008 Economic Brief, to provide a bit of good news amid current financial and economic woes locally, nationally and internationally. This new report piggybacks on the leadership paper, DC's Response to the Global Financial and Economic Crisis, released in December 2008, which focuses on concrete steps to minimize losses and maximize recovery once conditions improve.
The 2008 Economic Brief clearly states that Downtown and DC's economies are not immune to bad financial and economic conditions, but the fundamentals of each are sound, if not strong, resulting in mixed performance for 2008.
Using data from the BID's 2007 State of Downtown report as well as information for 2008, the paper also highlights major trends in the Downtown BID area for the year, including record office market rents, destination restaurant growth, record hotel revenues and increased weekday and weekend Metrorail ridership. Despite the fact that unemployment in DC has risen to 8.8%, and could rise above 10%, both Downtown and the city stand to benefit from the economic financial crisis and stimulus plan, which will create more local and regional jobs.
To read other highlights and factors that bode well for DC, click here to download the 2008 Economic Brief.
 Downtown Leadership Paper Number 5
DC's Response to the Global Finacial and Economic Crisis
December 2008 PDF [217 KB]
Despite 12 years of unprecedented transformation and prosperity, it is inevitable that DC will feel the effects of the current global financial and economic crisis. In this paper the Downtown BID recommends six steps that the city should consider to lessen the impact of the crisis on the community, aid in DC’s recovery once the dust settles and enable DC to emerge in a strong position, prepared to capture its share of regional growth while growing its tax base for the benefit of all residents.
Downtown Leadership Paper Number 2
The District of Columbia's Competitive Position in the Regional Office Market
January 2008 PDF [487KB]
This report examines future challenges to sustaining the strong commercial office market growth realized in DC over the past 10 years in the context of the importance of office property generated taxes to DC's financial well-being and its ability to fund important social programs such as public school modernization and affordable housing. 
Downtown Leadership Paper Number 1
Downtown: The Economic and Fiscal Engine of the District of Columbia
November 2007 PDF [1.5MG]
Richard H. Bradley, executive director of the Downtown DC Business Improvement District, and Gerry Widdicombe, director of Economic Development at the Downtown BID prepared this paper detailing Downtown's critical role in DC's extraordinary economic revival. The authors explain the factors that contributed to this rebirth, outline the need for sustained economic growth and suggest strategies for maintaining this momentum.
For an index of Downtown Leadership Papers on other subjects please click here.
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