Programs, such as the Certified Capital Company (CAPCO) and Washington DC Economic Partnership (WDCEP) encourage new business investments in Washington, District of Columbia. Washington is among other U.S. states, including Texas, Alabama, and Wisconsin to initiate the CAPCO program to help attract existing companies and create new businesses to the area. Presently, CAPCO is seeking insurance companies to participate in contributing $50,000,000 in long-term equity and debt to assist with its initiatives. One of the benefits offered to insurance businesses is a tax credit against premium taxes. The District of Columbia CAPCO program is designed to encourage the economy by creating high paying employment, capital for infrastructure, and incentives that will attract companies from other states.
Presently, there are companies certified by the District Council to provide the equity and loans over a 10 year period. Advantage Capital, Enhanced Capital Fund, and Wilshire DC Partners LLC are among those companies. The WDCEP has commenced their plans for 2016 to create jobs by building new technology companies and attracting existing technology businesses from other states. To accomplish this, capitalists and investors are encouraged to invest in the programs.
The main focus for the non-profit organization is the technology industry, although, other industry types are welcomed to the District of Columbia. WDCEP is encouraging high technology businesses in other U.S. states and local potential entrepreneurs to participate in the program for economic development growth. Existing technology companies are welcome to expand their business to the Washington, D.C. area by opening headquarters or branch offices. The program has already held events to help promote technology startups and is planning future events and lectures. WDCEP has enough resources available on its website for business owners and potential entrepreneurs to access information pertaining to availability of spaces in D.C.
CAPCO and WDCEP programs are non-profit organizations promoting the economic development growth and employment opportunities for Washington, D.C. These programs are encouraging new business investments to help with its missions and goals. They also are seeking angel investors, capitalists, and insurance companies to participate in its programs to keep the economy stabilized and flourishing. WDCEP is attracting existing tech businesses and helping potential technology entrepreneurs by providing resources for guidance and assistance. Existing companies in the D.C. area can seek advice to enhance competitiveness and to make better business decisions to increase profits.