D.C. Mayor Says City Needs to Diversify Economy
WASHINGTON (CBSDC/AP) — District of Columbia Mayor Vincent Gray says the city needs to move away from its dependence on the federal government and promote job growth in the technology, health care and hospitality industries.
Gray outlined his plans to diversify the city’s economy in his State of the District address Tuesday night. He says the nation’s capital has become a “big league city,” noting its expanding population, booming real estate market and plummeting homicide rate.
Gray says the city is poised to launch a technology incubator. He’s also planning a trip to Qatar this year to court foreign investors.
The Democratic mayor also announced that he plans to spend $100 million to create 10,000 new units of affordable housing. And he’s proposing pay raises for some public-sector employees.
WNEW’s Matt DelSignore contributed to this report. Follow him on Twitter.
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