Mayor Gray Thanks Chairman Mendelson and D.C. Council for Approving Tech-Incentive Package | Business
From Robert Marus: Mayor Vincent C. Gray today applauded the D.C. Council for approving legislation that will assist in building the New Economy he outlined during his State of the District Address. The incentive package will allow the District to incentivize the retention and expansion of LivingSocial in D.C.
The Social E-Commerce Job Creation Incentive Act of 2012 will allow LivingSocial to consolidate its corporate headquarters within the District. LivingSocial currently employs over 1,000 individuals in D.C., half of whom are District residents. It has nearly 5,000 employees worldwide.
“I want to thank Chairman Mendelson, Councilmember Evans and the rest of the D.C. Council for supporting this legislation, which will help us continue to diversify and build an economy that will allow us to complete in the 21st century global marketplace,” said Mayor Gray. “The tech industry is growing in importance in the District as it grows in importance worldwide, and the presence here of LivingSocial is a big part of the draw for other tech companies. That’s why I’m thankful to the Council and its leadership for supporting my plan to encourage companies like LivingSocial to continue coming to, and growing in, the District.”
The District has been in competition with leading national technology centers over the last several months for LivingSocial’s consolidated headquarters. This legislative change amends the District’s existing tech-business incentives, beating out competing jurisdictions in their overtures to the firm. The negotiations took place through numerous conversations held between Mayor Gray, Deputy Mayor for Planning and Economic Development Victor L. Hoskins, representatives from the Office of the Chief Financial Officer and LivingSocial CEO Tim O’Shaughnessy and his team.