Mayor Muriel Bowser has once again made her mark on the Washington, DC business landscape, hosting the tenth annual March Madness event amid the backdrop of ambitious citywide initiatives. This gathering, orchestrated by the District’s Office of the Deputy Mayor for Planning and Economic Development (DMPED), showcases up-and-coming real estate, housing, and workforce projects designed to bolster the city's economy. At the forefront of this effort, three businesses - Acumen, Kellen, and Ryan, LLC - intend to significantly increase their presence in the nation's capital, generating 232 new jobs and taking over nearly 90,000 square feet of prime downtown office space.
"Over the last 10 years, we have been able to deliver transformational projects that move our city forward and unlock economic development opportunities for our residents and businesses," said Mayor Bowser at the event. Announced during March Madness, these three companies are the latest beneficiaries of the Vitality Fund, a $10 million incentive endeavor working to attract and firmly anchor key industries within the District's bourgeoning economic landscape. Acumen, a consulting services firm; Kellen, an international association management conglomerate; and Ryan, LLC, a global tax advisory powerhouse, all chose to enlarge, or in Kellen's case relocate, their operations to downtown DC, adding to the city’s vitality and prestige.
According to the event's press release, Deputy Mayor for Planning and Economic Development Nina Albert underscored the unmatched allure of Washington, DC for businesses. "There is no substitute for being located in the heart of the nation’s capital," she declared. The Vitality Fund, she noted, underscores the city's firm commitment to facilitating the business community's decision-making processes and growth potential. Eligibility for this fund requires businesses to have a baseline workforce, commit to substantial office space for a prolonged period, belong to certain industries, and be actively considering an expansion or relocation within DC.
Mayor Bowser had previously recognized other Vitality Fund participants: Virtru, Quadrant Strategies, and Meridiam, set to create equally impressive ripples in the job market. Their commitments are expected to yield approximately 304 new positions and wield another 53,500 square feet of office space. But March Madness was not only to herald these private sector strides; various government agencies also took the spotlight to reveal their solicitation plans and development proposals for the betterment of the District's infrastructure. The Department of General Services and the Department of Parks and Recreation outlined multimillion-dollar projects encompassing modernization of schools, recreation centers, and critical utility infrastructures, slated to take shape in neighborhoods across Washington, DC.
These projects, alongside the Department of Housing and Community Development's (DHCD) Property Acquisition & Disposition Division (PADD) RFPs, herald a commitment to inclusive growth and development. PADD's RFPs are centered around themes of equity, capacity building, and advancing homeownership, signaling a dedication to building a city that not only thrives economically but remains cognizant of its residents' diverse needs and aspirations. With plans firmly underway, the tenor of March Madness resonates beyond the excitement of basketball brackets – it echoes the District's unabated mission to score big wins for its people and its future.
