“There is no justice without economic justice, and there is no economic justice without economic growth.”

 

 

Introduction

Welcome to the online home of the DC Economic Growth Action Fund. More commonly known as Economic Growth DC, we are a non-profit incorporated in the District of Columbia under Title 29, Chapter 4 of the DC code.

We are organized within the meaning of section 501(c)(4) of the Internal Revenue Code as a social welfare organization dedicated to promoting the common good and the general welfare of the residents of the District of Columbia through a robust and dynamic economy.

Purpose

The organization was created in 2013 to address the District’s two most important challenges (which unfortunately, are not unique to the District):

1. Our local economy has grown at a real average rate of 1.28% since 2007. In 2014, it grew at a rate of 1.55%. This is better than the 0.61% contraction that took place in 2013, but it still much slower than the 3% to 3.5% growth that most economists consider healthy. Without substantially increasing the economy’s rate of growth, we will not create enough of the middle-skill, middle-wage, middle-class jobs we’ll require over the course of the next generation.

2. A significant percentage of our working age population does not have the skills necessary to acquire and succeed in the middle-class jobs that will exist in the District in the first half of the 21st century.

Economic Growth DC was created to address the first challenge by advocating before our legislative and executive branches on behalf of legislation, regulation and policy that enables faster economic growth and the job creation that comes with it.

The Economic Growth DC Foundation was designed to address the second challenge by making sure every DC resident has the tools that permit them to acquire and succeed in a middle-class job. We will accomplish this mission by helping the District dramatically improve its education and job training systems.

Mission

Our mission is to catalyze an acceleration in the rate of growth of the District’s economy and make it permanent. Faster growth doesn’t solve every problem, but without it, we solve none of them.

We also strive to make the District an easier, better, and less expensive place to do business — a place existing businesses want to relocate to in order to take advantage of our highly educated workforce; and where entrepreneurs come to realize their potential.

In addition to our advocacy efforts, we facilitate the conditions that foster faster growth by 1) supporting local and neighborhood business associations, business improvement districts, economic development corporations, civic associations and other civic groups dedicated to establishing and maintaining an environment conducive to robust growth; and 2) Supporting pro-growth candidates for elective office in the District of Columbia.

Imperatives

We believe that the District of Columbia has two economic imperatives it must act upon immediately in order to address the major challenges mentioned above: 1) to accelerate the rate of growth of the District’s economy into the 4% range and keep it there; and 2) grow the private sector portion of our economy fast enough so that the percentage of our state domestic product derived from government spending drops to under 17% by 2025.

Please continue to explore our site. If you’d like to check out the charitable foundation, click here.