Mayor Gray, Other District Leaders, Entrepreneurs and Tech Advocates to Rally in Support of Tech-Sector Incentives Bill

WHAT/WHO:   Mayor Vincent C. Gray, DC Chamber of Commerce President Barbara Lang, Fortify.vc Founding Partner Jonathon Perrelli and Startup DC Chair Evan Burfield will tour Fortify.vc’s “The Fort” and rally in support of the Technology Sector Enhancement Act of 2012, the second part of a legislative package designed to strengthen and grow the District’s tech sector, diversify the District’s economy and prevent the loss of technology firms to nearby jurisdictions.

WHEN:          Monday, September 17, 2012
                     1:30 pm

WHERE:         The Fort (at Fortify.vc)
                      627 K Street NW, 5th Floor
                                   
BACKGROUND:    The DC Council has passed the first portion of Mayor Gray’s tech-incentive package, but has delayed action on the Technology Sector Enhancement Act until this month. The legislation provides financial incentives that will encourage further growth in the District’s tech sector and discourage the many entrepreneurs who have started and grown successful technology firms in DC in recent years from relocating to Virginia or Maryland because those jurisdictions currently offer lower capital-gains-tax rates. The devastating impact of the Draconian federal budget cuts that would result from sequestration makes it all the more urgent to pass this important legislation that will help diversify the District's economy.