Housing Complex

Wards 2 and 6 Come Out on Top in Economic Development Spending

Last year, the Chief Financial Officer issued the first comprehensive report on where the city spends its economic development dollars—ranging from tax incentives to revenue bonds to outright grants and contracts. For fiscal year 2010, Ward 6 was the winner by several miles, landing $128.5 million out of the $326 million total.

This year, the haul was a little more evenly distributed, with Wards 2 and 6 taking about $43 million each (taking out debt service on the Convention Center and Nationals Ballpark, which most people wouldn't think of as current spending).

Ward 3, notably, got nothing. That's a little misleading, though, because it doesn't take into account all capital spending—construction of schools, parks, recreation centers, and libraries don't count as "economic development," and Ward 3 got plenty of those.

The total pot this year was smaller, at $278 million in expenditures, bonds, and foregone tax revenue to last year's $327 million. But a lot more has been teed up for the out years: $1.034 billion to the $804 million in last year's pipeline. Under that scenario, Ward 1 comes out about even with Ward 2, at $403 million and $404 million respectively on account of a projects taking advantage of D.C.'s revenue bond program (as well as the $42 million tax break for a hotel in Adams Morgan).

In honor of tax day's rapid approach, read through a list of everyone who got your money here.

  • Jes sayin’

    It would be interesting to see what wards pay the most taxes (personal, property, etc) and produce the most revenue (sales tax, etc).

  • Political Observer

    Dang, Wards 7 & 8, yall are dead weight. Four more years of people "who know the system."

  • Political Observer

    @jessayin Your question is kinda the point of govt spending--giving money on front end gets paid back by increased tax revenue by users--prop owners, residents, customers, etc. The question to me is how quickly that money "gets paid back," or as Wall Street says the ROI. @lydia, does the report evaluate ROI or can you produce that?

  • Pingback: District Line Daily: Incumbents Sweep Primary, Basil Thyme Truck Towed - City Desk