|
MAR 11
MAR 11
MAR 17
Initial Start-Up Considerations
|
The Buzz with Doug Beekman
|
| Help Make DC a Fashion Capital - Fill out the Fashion Census Today! Fill Out Survey |
|
$100,000 PremierPlan Competition Launched to Encourage Entrepreneurship
|
 |
WDCEP Launches PremierPlan, a business plan competition, with CAPCO funding Understanding the strain that the current financial market has placed on small businesses the Washington, DC Economic Partnership's BusinessPremier program has launched a new initiative, PremierPlan, a business plan competition. The program, which will award $100,000 in investment capital and a package of pro bono services, is funded by DC Certified Capital Company participants, and is held in conjunction with the DC Coalition for Capital. Additional pro bono business services are provided by Venable LLP and Preferred Office. The goal of the competition is to, "promote entrepreneurship and the development of early stage companies in the District of Columbia." READ MORE... |
| WDCEP BusinessPremier Small Business Awards Opens Call for Application/Nomination |
 The BusinessPremier initiative of the Washington, DC Economic Partnership will honor three DC-based small businesses at its second annual BusinessPremier Small Business Awards program on July 22, 2009. This annual event was created to bring together the District's Small Business community, promote a business friend climate and show appreciation for DC-based businesses and initiatives. Congresswoman Eleanor Holmes Norton, Councilmember Kwame R. Brown, and other elected officials, celebrated with more than 250 attendees at last year's inaugural program. READ MORE... |
| 2009 Neighborhood Retail Opportunities in Production |
 The District's most definitive retail publication the Neighborhood Retail Opportunities guide will be going to press shortly and there is still time to submit your retail site, place your project on the front cover or purchase an advertisement. This comprehensive book catalogs all the available retail space in the city and highlights neighborhood retail corridors, development activity, demographics, sites and more. The Washington, DC Economic Partnership will print 2,000 copies and release the publication at the International Council of Shopping Center's (ICSC) RECON convention in May. READ MORE... |
| D.C. The Place For Key Tech CEOs To Make Major Economic Development Announcements |
| Two of the most important companies in the global tech marketplace are Intel and Google. One leads in worldwide chip manufacturing and the other in both search and cloud computing. It was not an accident that each came to Washington, DC to make major announcements. The reason: DC is the now the financial capital of the world. With multi trillion dollar Federal government spending moving forward, every company is not just keeping their eye on DC, but also trying to impact where that money gets spent. Broadband, e-health, education, green, workforce are all critical elements in the President's recovery plan and in tech CEOs markets. READ MORE... |
| PEN Selects Washington, DC Economic Partnership as the Community Ally of the Year |
PEN, Metro DC's LGBT Chamber of Commerce has selected Steve Moore, President & CEO, and the Washington, DC Economic Partnership as their Community Ally of the Year. WDCEP's outstanding commitment to the LGBT community, support of PEN, and exemplary business practices are among the top reasons for selection. Steve and WDCEP will be honored at PEN's Annual Awards Dinner, April 2cndat the Mandarin Oriental, Washington D.C. at 6:00 PM. More information about the event can be found here.
|
| Help Make DC A Fashion Capital - Fill Out The Fashion Census Today! |
 Let your voice be heard and make your fashion business count! In a historic effort to document the size of the fashion and retail industry in Washington, DC, the Greater Washington Fashion Chamber of Commerce (GWFCC) is launching a market research study. Dubbed the "Fashion Census", it is the first market research study of its kind that will attempt to accurately survey the needs of the fashion and retail industry in Washington, DC. By launching this survey, which the WDCEP helped produce, the GWFCC aims to gauge the size of the industry and identify the resources that are needed to support this emerging creative economy. READ MORE and ACCESS SURVEY |
| National Conference on Corporate Community Investment- New Economic Realities Drive Innovative Investment Strategies |
| The Business Civic Leadership Center (BCLC) at the U.S. Chamber of Commerce will be having their 2009 National Conference on Corporate Community Investment "New Economic Realities Drive Innovative Investment Strategies" from May 3 to 5 in Chicago. BCLC is convening an unparalleled roster of leaders for this action-oriented national conference that will reframe the economic crisis and discuss how recent national policies impact communities; showcase the power of strategic partnerships for regional economic development; identify innovative, recession-busting community investment strategies; and offer unmatched networking and visibility opportunities. READ MORE and REGISTER |
 |
| Capital Partners is a leading venture capital and small business finance firm focused on investing in promising companies in connection with federal, state and local economic development efforts. With offices in Washington, D.C., New Orleans, St. Louis, Austin and other U.S. cities, Advantage has raised more than $1 billion in capital since 1992 and invested in companies located in geographic areas that are underserved by traditional venture capital.
How does a business qualify for a CAPCO program investment?
The goal of the Certified Capital Company ("CAPCO") program is to support District businesses, creating new job opportunities and expanding the venture capital infrastructure here.
CAPCOs, which are private investment capital firms with strong local knowledge and industry expertise, have been approved by the District to invest funds in accordance with the D.C. CAPCO statute and regulations.
In order to be eligible for CAPCO program investment, a business must:
-Be headquartered in the District;
-Have its principal business operations located in the District;
-Have at least 25% of its employees as residents of the District;
-Have at least 75% of its employees employed in the District;
-Be a small business concern; and
-Certify that it is unable to obtain conventional financing from a bank or a commercial lender.
Once these qualifications are met, the final investment decision is at the discretion of the individual CAPCO, based on the prospects of the business, as determined by the CAPCO after an extensive review.
Why do CAPCO participants require that a business be turned down by other financial institutions prior to application?
The D.C. CAPCO program was put in place to fulfill the City Council's intent by growing local businesses and generating significant economic development for the District. The program was specifically designed to not compete with other existing sources of capital, especially commercial banks, and to address the needs of entrepreneurs who have trouble obtaining traditional financing for promising businesses.
How can terms and agreements of an investment be structured? (i.e. structure of equity or debt)
Under the rules of the CAPCO program, CAPCOs are allowed to utilize a wide variety of deal structures and will propose the one that best fits the risk/reward profile of a particular investment. The specific terms are negotiated between the CAPCO and the potential investment on a case-by-case basis. |
 |
The information that follows present data from the Downtown BID's 2007 State of Downtown report (website) and new data from 2008.
DC Highlights of the year:
· Office market set record rents
· DC government had a $191 million surplus for its 2008 fiscal year on a local budget of $5.3 billion
· Pew Charitable Trust purchased 901 E Street NW, and is creating a "non-profit" village
· Hotel market had record revenues (the Obama inauguration assured an excellent start to 2009)
· Newseum and National Museum of Crime and Punishment opened
· DC adopted metered taxicabs
· Verizon Center had 2.6 million visitors--up 100,000 over 2007
· Downtown BID area restaurants grew by 9 (15 opened and 6 closed) to a total of 123 restaurants
· Downtown fashion retail expanded on F Street with Peruvian Connection's opening, and Forever 21 and Guess Jeans signing leases
· Safeway opened a new grocery store at 5th and L Streets, NW
· Metrorail recorded 7 of its top 10 ridership days
· DC government released the Center City Action Agenda, making the case for continued investment in both Downtown and emerging markets of the Center City | |
