The Board of Trade’s advocacy, convening, and thought leadership activities support regional outcomes that will help Greater Washington grow and adapt for generations to come. The GWBOT Legislative Update shares legislation and policy insights from the Greater Washington region.
Category: Policy & Legislative Updates
Mayor Bowser addresses regional business leaders through engaging conversation on important issues facing Washington DC
The Greater Washington Board of Trade’s Regional Policy Leadership Series (RPLS) brought Washington DC Mayor Muriel Bowser together with the region’s business community for an intimate in-person conversation in the heart of the Central Business District to discuss regional issues. Mayor Bowser’s discussion bridged regional transportation, public safety, regulation of new disruptive technologies, downtown revitalization, and what can be done to better the District’s business environment as the post-pandemic economy continues to evolve.
The conversation was presented in sponsorship by Holland & Knight and was held at the Downtown DC office of the multinational law firm located on 17th Street NW. It set the perfect backdrop for the important conversation Mayor Bowser had with the discussion’s moderator Janene D. Jackson, Partner at Holland & Knight’s DC office.
The event began with remarks from Nina Albert, DC’s Deputy Mayor for Planning and Economic Development, who addressed the audience on some of the key pillars to revitalization of the Central Business District. She also discussed the next steps in creating a continued high growth economy, promoting cultural experiences that make DC unique, and creating more affordable housing, ahead of Mayor Bowser’s discussion.
Mayor Bowser didn’t waste time diving into issues vital to the region’s business community, including the future of Metro funding from the District (engaging on the WMATA budget deficit impacting regional transportation) and newly introduced crime legislation which takes major strides toward providing law enforcement with the tools that they need to combat the epidemic of crime facing the region (including major public safety concerns in the Central Business District). On the latter of which, she expressed concerns regarding the defunding of the DC Police force by the federal government that has impacted the District’s public safety, reducing the standing force by 300 officers.
Mayor Bowser’s discussion also covered technological investments that will better position the region’s workforce to contend with competitor cities nationally and internationally. Federal dollars to extend broadband and internet connectivity in the District have helped tremendously to expand and upgrade infrastructure. She spoke specifically about the Internet Essentials Partnership Program and how this public-private partnership with internet service providers like Comcast has connected families and small businesses in underserved District communities to broadband internet. The mayor shared that “while everyone can connect to the internet, not everyone can afford to connect,” and it’s partnerships like these that elevate our region.
Mayor Bowser briefly covered the effort to try and keep the region’s professional sports teams in the District, including her hopes of retaining the Wizards and Capitals, whose parent company, Monumental Sports, recently released plans of moving the teams to a new entertainment district in Northern Virginia’s Potomac Yard. The mayor has worked with DC Council to approve a $500 million arena refurbishment funding package.
Conversation then turned to wooing the Commanders back to a new stadium in the District at the site of the old RFK Stadium in Northeast DC, a 10-year long campaign thus far with the federal government, which owns the site. Plans still involve building a new “NFL-sized” stadium at that location regardless of the Commanders’ plans, which would help the District hold larger concerts and outdoor events that currently cannot be held in DC due to the smaller size of some of its entertainment venues.
Now in her third term in office, the most difficult term for any mayor, Mayor Bowser was asked how she sees her legacy, looking back through her tenure making her the second longest-serving mayor in DC’s history. With so much to be proud of it’s hard to choose any single accomplishment, she pointed to her ability to uplift communities in Ward 8 via affordable housing, through the building of a new hospital and creating meaningful jobs in DC’s most challenging ward from an economic and equity standpoint.
This is the first RPLS event of 2024. We look forward to continuing to connect the business community to information directly from policymakers through our Regional Policy Leadership Series, ensuring that our members have the best up-to-date knowledge about how the region’s governments are planning for and reacting to a constantly changing environment.
Special thanks to our presenting sponsor: Holland and Knight LLP, and our series supporting sponsors Comcast, First National Bank, Fox Rothschild LLP, G.S. Proctor & Associates, Inc., Giant Food LLC, MGM National Harbor, and McGuireWoods LLP, McGuireWoods Consulting, and Uber Technologies, Inc.
GWBOT January 2024 Legislative Update
The Board of Trade’s advocacy, convening, and thought leadership activities support regional outcomes that will help Greater Washington grow and adapt for generations to come. The GWBOT Legislative Update shares legislation and policy insights from the Greater Washington region.
Read our January 2024 Legislative Update here
Where our Policy & Advocacy team is focused heading into a busy 2024
The Board of Trade is excited to begin 2024, expanding upon previous years’ work with new and varied policy and advocacy efforts. In 2023, we substantially expanded its policy footprint in the region by adding staff members Kyle McColgan, SVP of Policy, and Tyler Kirby, Policy Analyst, in addition to Daniel Flores, VP of Government Relations. In the coming year, the Board of Trade will be bringing Holland & Knight on board to represent the Board of Trade in the District of Columbia in a continuation of 2023’s efforts working with McGuireWoods Consulting and G.S. Proctor & Associates in Virginia and Maryland respectively. We worked to expand upon its convening role through programs like the Regional Policy Leadership Series and the Capital Region Transportation Forum, which brought together transportation leaders from across the region in conversation with our members, facilitating regionalism and collaboration between the private and public sectors to address concerns around talent acquisition and retention and the long-term viability and sustainability of public transportation.
The coming year will see the Board of Trade focus on fostering regional collaboration and cooperation to overcome mounting funding difficulties within the region, allowing for necessary changes that will preserve and better the business environment. Only through addressing the interrelated issues of crime, downtown revitalization, and the success and long-term sustainability of regional public transit will the region’s unrivaled resources, especially the quality and size of its workforce and unique relationship with the federal government, continue to bolster the region, keeping it near the apex of the market.
The ability of the region’s business environment to compete with emerging competitor cities around the nation rests on the ability of its jurisdictions to work together, not only with one another but with the private sector. Only through collaboration can the region address many of its endemic problems, now being brought to the fore as the world experiences unprecedented economic and political shocks and tectonic shifts, which fundamentally change the shape of the local, national, and international economies. As work from home becomes more engrained in post-pandemic work culture, the region must reimagine how commercial real estate incentivizes regional residents to remain in and move to the region’s core. Doing so will require a multimodal approach that addresses long-term funding issues for WMATA and significant road projects like the American Legion Bridge, distressing crime trends that depress tourism and recreation within the district, and necessary improvement to the region’s general business environment to incentivize investment and disrupt negative emigration trends among the most desirable young professionals out of the region.
With legislative sessions in Virginia and Maryland underway, the Board of Trade will continue to advocate for maintaining and improving the region’s business environment, connecting policymakers and leaders with one another and with the region’s business community. Collaboration across sectors, private and public, and across jurisdictional boundaries, remains necessary for this continued elevated status of the Greater Washington region, nationally and internationally. Only through intersectoral and inter-jurisdictional communication can we expect a risk-averse and sometimes slow-moving region to adapt to the new, constantly changing environment, and maintain its appeal and competitiveness relative to the nations and the world’s emergent competitor markets.
Regional Attorneys General Policy Discussion addresses Meta Lawsuit, AI Ethics, and Crime Solutions in Greater Washington
The Greater Washington Board of Trade’s Regional Policy Leadership Series brought together Maryland Attorney General Anthony Brown, DC Attorney General Brian Schwalb, and Virginia Attorney General Jason Miyares in discussion with Uber Technologies’ Senior Public Policy Manager Michele Blackwell about topics ranging from the ongoing Meta lawsuit and artificial intelligence to combating the epidemic of crime in the region.
AG Brown discussed key priorities around consumer protection and public safety, ranging from the Meta lawsuit and antitrust regulations to regulation around handgun qualification and addressing mass incarceration and recidivism, even indicating that he will be seeking to form a regional coalition among his colleagues on the call to create a task force in the mold of Illinois’ recent organized retail theft task-force to begin tackling the problem more holistically and collaboratively across the region.
In the way of consumer protections, Brown delved into antitrust legislation around minimum price setting in Maryland and expressed a commitment to continuing to pursue a collaborative relationship with the business focused on the prevention of abusive behaviors rather than over-regulation and litigation. Conversation then shifted to the Meta lawsuits being pursued by 41 attorneys general across the nation and the need for social media platforms and the tech industry to take age gating and verification seriously so that kids are protected from some of the tactics that have become a vital part of monetization of social media platforms.
In a discussion on violent crime, Brown pointed out that youth crime is actually on the decline with the very important exception of carjackings and gun violence and that wrap-around services in concert with a more pointed approach to prosecuting those crimes will be pivotal parts of any solution going forward. When asked how the business community can help, he suggested that continued investment in young people to get them off the streets and to inspire them with what their futures can look like through internship and mentorship will play a major role in preventing the cycle of criminality that plagues the region.
AG Schwalb primarily focused on DC’s Cure the Streets broad approach to combating violent crime in the District and consumer protections around the Meta Lawsuit, as well as the District’s proposed legislation regarding the use of AI algorithms in the making of important life decisions for residents.
Discussion of DC’s Cure the Streets program centered around the need to make people feel safe in the face of some disturbing trends around violence in the city. As the crimes associated with first offenses worsen and traditional prosecution has not seemed to be able to fix the problem, wrap-around services to keep children off the streets by providing after-school programs, jobs, internships, and mentoring may represent a viable path forward. Schwalb indicated that point as a way in which the business community is poised to get involved and have a major impact on both public safety and the lives of many of the District’s young residents.
Discussion of the Meta lawsuit and protection of DC’s youth from business practices that may negatively impact young minds transitioned into discussion of DC’s proposed regulations around the use of AI, big data, and algorithms in the making of important life decisions when Schwalb acknowledged the importance of balancing the major benefits that many of these technologies can bring to residents with concerns around the data privacy and data set biasing endemic to them. He expressed his office’s desire to create guard rails that will prevent the technology from going over the line and doing harm rather than opening up access to products and services to a broader scope of the population.
AG Miyares discussed, first, Virginia’s cease-fire program designed to combat gang violence throughout the state by intervening immediately within communities to avoid the retaliatory cycle of gun violence before it can begin and focusing on the prosecution of the disproportionately small number of repeat offenders, ~5%, who commit ~50% of crime in the Commonwealth. He, like his colleagues, pointed out that the business community can take a major role in preventing that cycle by providing pathways for young people to better themselves and develop relationships with the private sector, getting them out of bad situations associated with their being unsupervised after school and allowing them to envision themselves in positions and roles which may never have occurred to them.
Miyares then moved on to the discussion of consumer protections in the Commonwealth, again reiterating the need to provide age-appropriate guard rails for children on social media platforms while still allowing for the social connection that they so desire before moving into discussion of his recent opposition to the increasing of greenbelt fares, expounding on the AG’s office’s role as the voice of the people in issues of consumer protection within the Commonwealth.
Our Regional Attorneys General RPLS webinar was the last one of for 2023. During the 2023 year, we held six RPLS virtual policy discussions, including discussions with Virginia Governor Glenn Youngkin, Maryland Governor Wes Moore, Regional Police Chiefs and Regiona Labor Leaders from DC, Maryland, and Virginia.
In 2024, we look forward to continuing to connect the business community to information directly from policymakers through our Regional Policy Leadership Series, ensuring that our members have the best up-to-date knowledge about how the region’s governments are planning for and reacting to a constantly changing environment.
This Regional Policy Leadership Series webinar was presented by Uber Technologies. Supporting Sponsors of the event series are Comcast, First National Bank, Fox Rothschild LLP, Giant Food LLC, G.S. Proctor & Associates Inc., Holland & Knight LLP, McGuireWoods Consulting LLC, McGuireWoods LLP, and MGM National Harbor. Thank you for supporting the Greater Washington Board of Trade and our region’s business community.
Greater Washington Board of Trade and Greater Washington Partnership Host 2023 Capital Region Transportation Forum focused on Future of Transportation and WMATA
On November 30th, the Greater Washington Board of Trade (the Board of Trade) and the Greater Washington Partnership (the Partnership) hosted the 6th annual Capital Region Transportation Forum. This annual event brings together the Capital Region’s transportation leaders – from Washington D.C., Maryland, and Virginia – to discuss shared challenges and opportunities that require multi-jurisdiction collaboration. This year, the discussion centered around the Washington Metropolitan Area Transit Authority (WMATA) fiscal challenges and regional efforts to overcome them.
The Partnership and the Board of Trade work together to ensure the region is advancing comprehensive and strategic transportation investments that will keep our economy moving. An efficient, accessible, and reliable transportation system is essential to ensuring businesses and residents can thrive.
We kicked off the morning by celebrating many of the region’s transportation wins from the past year, including the relaunch of the Baltimore Red Line, Metro’s post-pandemic ridership recovery and historic levels of service, as well as record-breaking ridership on Virginia’s passenger trains. Most notably, WMATA’s $750 million operating budget deficit for the upcoming fiscal year, remains a major challenge facing the region and we urged leaders and elected officials to work together toward a sustainable solution.
Charting the Path to Sustainable Mobility
The event opened with Dr. Cinzia Cirillo, who is a professor and the interim director of the Maryland Transportation Institute at the University of Maryland. Dr. Cirillo discussed recent research from the Maryland Transportation Institute regarding persistent traffic and congestion in the Greater Washington region despite the prevalence of remote work. She also shared the data science behind those insights, and how such models can be invaluable tools for decision makers going forward to forecast usage, expected impacts, and externalities of future infrastructure projects. “[Monitoring congestion] is not enough, because in order to make investments, we need to be able to predict the consequences of our actions, or no action,” Cirillo said.
SEE MORE PICUTURES FROM OUR EVENT HERE
Randy Clarke: State of the Metro Address
Randy Clarke, the General Manager and CEO of WMATA, updated the audience on WMATA’s current financial crisis. The transit agency, which is facing a $750 million operating budget deficit, has been working toward reforms, cost savings, and service cuts to help bridge its funding gap. Clarke outlined the major factors contributing to the agency’s deficit, including decreased ridership post-pandemic, inflation, and the depletion of COVID subsidies. If a funding agreement is not defined in the coming weeks, the immediate consequences could include significant service cuts and layoffs. “The state of Metro is strong but highly uncertain. We need to choose as a region what we want Metro to be,” Clarke said.
Clarke presented various budget scenarios with the worst-case scenario requiring drastic cuts to bus and rail services, longer waiting times for commuters, the shutdown of numerous bus lines, and early shutdowns of the Metrorail system. Equally concerning is the huge number of WMATA employees that will face the prospect of layoffs and hiring freezes if funding is not secured. Layoff notifications and the hiring freeze could begin in January 2025, with impacts to service starting to show during DC’s busy cherry blossom season next spring.
Panel: Regional Transportation Leaders Panel
A panel discussion, moderated by WUSA9 anchor Lesli Foster, brought together the transportation leaders from DC, Maryland, and Virginia to discuss recent progress and collaboration on regional transportation initiatives. The panelists, Virginia Secretary of Transportation W. Sheppard Miller III, Maryland Transportation Secretary Paul Wiedefeld, and Interim Director of the District Department of Transportation Sharon Kershbaum, shared insights on their administrations’ respective visions and shared regional priorities. Safety was stressed as a top priority across the region. All three secretaries emphasized their shared focus on reducing roadway injuries and fatalities. “We lost over 1,000 people last year on our roadways. The problem is that we’ve gotten used to that fact,” said Sheppard Miller III.
WMATA was another key concern and topic of discussion. The uncertain future of WMATA services, escalating costs, and impacts on service are creating instability across the region. “The importance of WMATA to Maryland and to the region cannot be overstated. It’s what makes us competitive nationally and internationally. We cannot let it fail, but we also have to work with our financial realities. We’re going to have to make some hard choices,” said Paul Wiedefeld. The panel explored how each administration is working to ensure stability for WMATA, its funding partners, and the broader community that relies on its services “WMATA’s survival is the District’s survival. The District is really trying to drive demand [for transit] because that is a lever that we have. Priority bus lanes have been key to that.” said Sharon Kershbaum.
The Partnership and the Board of Trade were honored to host 200 leaders to discuss foundational issues for our region’s ability to grow and thrive. Thank you to Lesli Foster for serving as our moderator, all our panelists and presenters, and a special thanks to this year’s sponsors: Georgetown University, EXP, HDR, HNTB, Transurban, Aon, EY, and Lyft. We will continue to convene and look for opportunities to partner with the leaders who joined us at the 2023 Capital Region Transportation Forum to ensure the region continues to make the long-term investments needed to ensure this region remains one of the best places to live, work, and build a business.
Watch the full 2023 Capital Region Transportation Forum here.
To watch and share clips from the 2023 Capital Region Transportation Forum, check out the below videos from our YouTube page:
WMATA (Metro) General Manager Randy Clarke discusses transit system’s $750 million funding gap
Capital Region transportation leaders discuss Metro funding and traffic congestion in DC, MD, and VA
Maryland Transportation Institute shares traffic research for the Greater Washington region
October policy dicussions engage Board of Trade members with regional labor leaders and state senators
GWBOT’s Regional Policy Leadership Series (RPLS) events bring together key policymakers and officials to discuss some of the most important issues facing the region’s business community. Last month, the Board of Trade and our partners held two policy conversations, one with regional labor leaders and another with Virginia and Maryland’s Senate Presidents. In each of these discussions, topics ranged from workforce, education, disruptive technology, and the future of both economic and environmental sustainability.
The first event was a labor-focused discussion expertly moderated by Mac Tisdale, President Mid-Atlantic Region at First National Bank. It brough together Sec. Portia Wu, Dr. Unique N. Morris-Hughes, and Sec. George Slater to discuss topics across the labor and workforce landscape, including workforce development and retention, labor environment, intraregional cooperation, and preparing the region for the future impacts of emerging technologies like AI before taking questions about the potential impacts of a government shutdown on the region’s labor market and economy. Fundamentally, the discussion centered around the notion that the Greater Washington region has one of the most educated workforces in the world and should be in a position to capitalize on the new disruptive technologies changing the national and global economic landscapes and what the region can do to maintain and expand the edge that it currently has in that sector.
Our though-provoking moderator Steve Proctor, President and CEO of G.S. Proctor & Associates, led our next discussion, which engaged Senate Presidents Lucas and Ferguson on a broad range of topics spanning workforce and education, transit, economic and environmental sustainability, health and wellness, technology, and legislative priorities for Maryland and Virginia in the coming cycle, giving attendees a high-level view into what the upcoming legislative cycle is likely to bring for the region.
Perhaps the biggest take-away, though, was the common theme through the two sessions of collaboration between jurisdictions. Leaders in both sessions have expressed an understanding of the importance of interjurisdictional intraregional collaboration and signaled a desire to work with one another more closely. Connecting regional leaders and the business community is, in large part, the goal of this series and the opportunity to see, in real time, the beginnings of those conversations and for business leaders to take part in the discussion during Q and A time to shape the conversation is a huge step toward this goal.
If you were able to attend last month’s sessions, thank you for being a part of the conversations and helping to advance collaboration and cooperation within the region, and if you weren’t, make sure that you are able to attend future events so that you can be a party to the conversation going forward and as informed as possible about changes coming to the region’s policy landscape.
Want to learn more abou these RPLS discussions?
Learn more here: Regional Senate Presidents
Learn more here: Regional Labor Leaders
Maryland and Virginia senate leadership discuss legislation and policies impacting the Greater Washington region
The Greater Washington Board of Trade’s Regional Policy Leadership Series brought Maryland Senate President Bill Ferguson and Virginia Senate President pro-tempore Luis Lucas together to discuss a broad range of topics spanning workforce and education, Transit, Economic and environmental sustainability, health and wellness, technology, the threat of government shutdown for the region, and legislative priorities for Maryland and Virginia in the coming cycle. The event, presented by G.S. Proctor and Associates, highlighted the importance of collaboration between jurisdictions in our region and the vital role that the Board of Trade plays in bringing decision makers together.
From a workforce and talent development standpoint, both states are working to reevaluate and rework their education systems to function in the new economic landscape into which young students are graduating. As the cost of higher education continues to soar, Virginia’s focus on connecting higher education institutions with major jobs providers in the region in conjunction with a renewed focus and reinvestment into apprenticeship programs which provide a look into alternative paths not including higher education, ensure that Virginian’s are fully aware of the universe of educational paths before them. In Maryland, the blueprint for Maryland’s future is underway and focusing on every stage of education, investing in early childhood education by ensuring the availability of free or low cost child care for all four year olds and low income three year olds and working to ensure that no children make it through high school without having completed certificate or apprenticeship programs providing a clear career path forward.
WMATA, the connective sinew of the region, was a big discussion point. Both legislatures are committed to solving the funding problems currently plaguing the body and are fully aware of the degree to which public transit in the region provides enormous potential for economic prosperity. Connecting MD, VA, and DC and creating seamless transitions between jurisdictions in the region is a fundamental bedrock of the local economy and as each jurisdiction moves toward electrification and fulfillment of environmental goals, is likely to become more and more important as public transportation must necessarily take a front seat in reaching those ends.
Both states have made historic gains in tax revenue and are being cautious when looking at their budgets in the near future. As federal COVID relief dollars begin to dry up, Ensuring that state budgets are not careening toward a funding cliff is vital for the long term sustainability of the region, leading the states to invest heavily in shorter term projects without substantial long term budgets which were designed to jump start movement toward equity in concert with many of the plans already mentioned in this discussion.
Both senate presidents discussed what their respective states are doing to combat and ameliorate the effects of climate change. With Virginia’s senate resisting Youngkin’s calls for an exit from the Regional Greenhouse Gas Initiative, and Maryland focusing on a comprehensive set of fairly aggressive climate goals. Both jurisdictions are committed to the sustainability of these efforts and ensuring that the business interests throughout the region are on board and a part of ongoing discussions. Both presidents further concluded that the entire region would need to collaborate on many of these initiatives to ensure viability as both states are on “parallel paths”.
Crime emerged as a discussion topic for both jurisdictions. Both legislatures are committed to addressing the root causes of violence through comprehensive programs including the expansion of mental health providers in the school system in an attempt to head off violent crime with prophylaxis rather than punishment. These efforts are also part of a broader focus on provision of mental health services to residents as we continue to see prolonged impacts of the COVID-19 epidemic especially on the youth of the region.
Technology is taking a leading position in the development of the region as it undergoes an explosion in cutting-edge high-tech positions while struggling to contend with data privacy and potential job loss concerns associated with many of these new disruptive technologies. The entire region is working to utilize new technologies and reap as many benefits as possible from innovators in the region while remaining vigilant about protecting residents who are potentially vulnerable to some of the technologies’ negative externalities.
Both Senate Presidents concluded with discussion of their legislative priorities which focused primarily on environmental sustainability and educational equity for Virginia, and addressing youth violence, creation of affordable housing, and prioritizing transportation investment in Maryland; both further concluding that they look forward to connecting with one another to discuss their plans and how the region can work more closely together on all of these goals.
CLICK HERE TO WATCH THE FULL DISCUSSION
The Board of Trade will continue to connect the business community to information directly from policy makers through our Regional Policy Leadership Series (RPLS), ensuring that our members have the best up-to-date knowledge impacting regional policies. Stay tuned for our upcoming sessions with regional Senate Presidents, Attorneys General, Comptrollers, and more.
This Regional Policy Leadership Series webinar was presented by G.S. Proctor @ Associates. Supporting Sponsors of the event series are Comcast, Fox Rothschild LLP, Giant Food LLC, G.S. Proctor & Associates Inc., Holland & Knight LLP, McGuireWoods Consulting LLC, McGuireWoods LLP, MGM National Harbor, First National Bank and Uber. Thank you for supporting the Greater Washington Board of Trade and our region’s business community.
Stay up-to-date on Board of Trade events here: https://www.bot.org/events
Regional Labor Leaders Gather for Workforce and Labor Discussion
Top labor officials from Virginia, Maryland, and the District of Columbia came together to discuss the future of labor markets and workforce development as part of the Board of Trade’s Regional Policy Leadership Series on Oct. 19. Sec. Portia Wu, Dr. Unique N. Morris-Hughes, and Sec. Bryan Slater discussed topics across the labor and workforce landscape including workforce development and retention, labor environment, intraregional cooperation, and preparing the region for the future impacts of emerging technologies like AI (Artificial Intelligence) before addressing the potential impacts of a government shutdown on the region’s labor market and economy as well and more detailed discussion of what intraregional collaboration should look like going forward.
Across the region, all three jurisdictions are experiencing record low unemployment rates and are bouncing back from lower labor participation rates experienced throughout and in the aftermath of the COVID-19 pandemic. Bolstered by concerted efforts on the part of each jurisdiction to shore up existing and create new pipelines from education to the workforce, these employment numbers paint a picture of a region which is recovering rapidly from the malaise of the pandemic and working to engage young residents in the labor market to ensure that this rate of growth is stable and sustainable over time.
Expansion of efforts to create labor pipelines from local resident students to the IT (Information Technology), Professional Services Management, and Hospitality and Tourism sectors promises to ensure that the region’s economy can be supplied with the local labor market, reinvesting in the current population. Job training programs like Virginia’s workforce innovation act, Blueprint for Maryland’s Future, and DC’s infrastructure academy represent an enormous investment in young residents and in ensuring that departments of labor and employment are able to connect students with the workforce through internship programs, apprenticeships, and signing days, offering tax credits for training programs in critical and growing industries and incentivization of youth involvement in job training programs.
Continued investment into workforce retention programs like FAMLI and provision of mental health services at all points along the lifetime of an individual’s career promise to further improve the region’s bounce back from pandemic workforce participation levels and keep groups frequently at risk of dropping temporarily or permanently from the labor market engaged. Expanding the mental health care capacity through universal licensing recognition, telehealth services, and demand side subsidization will help to combat the burnout and provide much needed wrap around services to those working on the front lines of the economy.
Regional jurisdictions are also preparing for the expansion of AI in the workplace and setting out guardrails for where and how AI can be used to prevent unfair labor practices while actively utilizing artificial intelligences to ensure that every resident has the ability to start on equal ground in the labor market when searching for employment.
Finally, panelists discussed their concerns regarding a potential government shutdown and the relative risks of a longer or shorter period as well as some loan programs designed to bridge unpaid working periods along with their desire to build a more robust model to protect the region’s largely federally reliant economy.
Click here to watch the full interview.
The Board of Trade will continue to connect the business community to information directly from policy makers through our Regional Policy Leadership Series (RPLS), ensuring that our members have the best up-to-date knowledge impacting regional policies. Stay tuned for our upcoming sessions with regional Senate Presidents, Attorneys General, Comptrollers, and more.
This Regional Policy Leadership Series webinar was presented by First National Bank. Supporting Sponsors of the event series are Comcast, Fox Rothschild LLP, Giant Food LLC, G.S. Proctor & Associates Inc., Holland & Knight LLP, McGuireWoods Consulting LLC, McGuireWoods LLP, MGM National Harbor, and Uber. Thank you for supporting the Greater Washington Board of Trade and our region’s business community.
Stay up-to-date on Board of Trade events here: https://www.bot.org/events
WMATA Provides Updates on FY25 Budget Deficit
At our Board meeting in May, WMATA’s General Manager and CEO, Randy Clarke, presented an overview of Metro’s operating and financial situation. At that time, reliability and services were improving and ridership was increasing though not yet to pre-pandemic levels. The General Manager also indicated the agency was forecasting a significant funding gap of $750 million for FY25 due to a variety of factors.
Last week, management presented an updated financial picture along with potential remedies to help reduce the FY25 budget deficit.
We are encouraged by management’s commitment to realizing internal cost savings and efficiencies. The nearly $100 million in one-time savings plus roughly $600 million in other reductions over the next 10 years is a good start and we expect that WMATA’s management and Board will continue working to identify additional improvements.
However, a proposal to utilize capital funds to reduce the operating deficit is not desirable though might unfortunately be necessary. The structural problems that have impaired WMATA since its inception must be addressed to find a sustainable long-term solution.
The Board of Trade will continue to work alongside the region’s elected and appointed officials, the Metropolitan Washington Council of Governments, the MetroNow Coalition, and other business and regional organizations to ensure WMATA is able to meet the region’s transit needs while operating effectively, efficiently, and safely.
Metro services are critical to our region’s economy and quality of life; even more so as the region continues to change and grow. We must consider this an opportunity to think longer-term to create an integrated mobility system for all residents, businesses, and communities.
