Mayor Vincent Gray sought to enlist the backing of D.C.?s development community Thursday for his ambitious 5-year economic development plan, unveiled to the public less than 24 hours earlier.
Gray, in a forum hosted by the D.C. Building Industry Association, pledged the District?s support in enacting some of the goals, such as reducing the ?regulatory strangulation? that impedes development and courting Washington?s technology, medical and higher education sectors to decrease D.C.?s reliance on developers for tax revenue. Gray and his top economic development chief, however, also challenged developers, saying it will be important for them to lend their support to the plan?s initiatives, such as eliminating the capital gains tax for technology firms considering setting up shop in the District.
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