As Greater Washington navigates rapid economic change and shifting federal dynamics, the Greater Washington Board of Trade convened a timely and candid conversation with D.C. Mayor Muriel Bowser on June 12, 2025. The fireside chat, hosted in partnership with Holland & Knight LLP and moderated by Executive Partner Janene Jackson, brought together leaders across sectors to explore the District’s fiscal outlook, strategic investments, and long-term vision for inclusive growth.

Mayor Bowser addressed the District’s most pressing economic challenges, including a projected $1 billion revenue shortfall over the next four years,  driven largely by anticipated federal workforce reductions. Despite this difficult terrain, she reaffirmed her commitment to a growth-oriented budget.

“We’re right-sizing our spending and growing our revenue, with no new taxes,” Mayor Bowser said. “We have to grow our economy, diversify our base, and help D.C. residents transition into new, high-quality jobs.”

Driving Strategic Investment Across the City

Throughout the conversation, Mayor Bowser outlined key priorities from her FY26 budget and Budget Support Act, emphasizing investments that modernize systems, expand opportunity, and maintain the District’s economic resilience:

• Tech Ecosystem Growth – A new Technology Ecosystem Fund and reviving parts of the Qualified High-Tech Company Incentive are designed to attract startups and scale-ups, leveraging the region’s tech talent and strengthening D.C.’s competitiveness as a center for innovation.
• Workforce Mobility – Investments in career and technical education, the DC Infrastructure Academy, and expanded procurement for local businesses aim to create upward mobility—particularly for residents in Wards 5, 7, and 8. Since 2015, the District’s spending with D.C.-based businesses has grown from $300 million to over $1.5 billion annually.
• Downtown Revitalization – The FY26 budget includes $17 million for public spaces, including the Gallery Square project and the revitalization of Farragut Square, McPherson Square, and Lafayette Park, part of a broader strategy to draw new investment, foot traffic, and vibrancy to downtown.
• Housing & Rental Reform – Mayor Bowser reaffirmed her commitment to affordable housing production while advocating for reforms to the Tenant Opportunity to Purchase Act (TOPA) and pandemic-era rental policies to stabilize D.C.’s housing ecosystem and re-attract capital investment.
• Public Safety & Infrastructure Modernization – New funding for 911 infrastructure (including a commitment to its updated and remodeled 2^nd 911 Call Center), law enforcement drones, and asset lifecycle planning is part of a citywide push to modernize public services and ensure a safe, reliable foundation for growth.

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The Future of RFK and Federal Alignment

Mayor Bowser also offered a bold vision for the RFK Stadium site—a catalytic 180-acre redevelopment opportunity that would include a new stadium, mixed-use housing, recreation space, and an entertainment district along the Anacostia River.

“If it was just a stadium, we wouldn’t be as interested,” she noted. “This is about unlocking the full potential of the site—for our residents and for the future of the city.”

Turning to federal workforce and infrastructure policy, Mayor Bowser emphasized the importance of regional alignment and cross-jurisdictional collaboration. She called on public and private leaders to push for federal reinvestment and a renewed commitment to in-person work in the capital.

A Call to Action for the Business Community

The session concluded with a direct message to business and civic leaders: remain engaged, advocate for change, and help move the District’s growth agenda forward.

“Don’t bet against the District,” Mayor Bowser said. “But don’t sit on the sidelines either. If we’re still having this conversation next year and haven’t made progress—shame on us.”

This special session is part of the Board of Trade’s broader mission to shape a next-generation regional economy—one built on digital transformation, inclusive growth, and stronger public-private partnerships. We extend our deep thanks to Mayor Bowser for her continued leadership, and to Holland & Knight and Janene Jackson for making this powerful dialogue possible.

Watch the whole conversation between Mayor Bowser and the Board of Trade below:

Amid rapid disruption and shifting federal priorities, Virginia Senator Tim Kaine convened the Greater Washington Board of Trade and a select group of regional leaders for a private roundtable focused on the Capital Region’s economic future. Held June 2 in the Russell Senate Office Building and co-hosted with Fox Rothschild LLP, the closed-door session explored how business and government leaders can collaborate to strengthen Greater Washington’s competitiveness in a time of accelerating change. 

With participants representing sectors such as transportation, energy, infrastructure, and workforce development, the session served as a unique forum for candid, solution-oriented dialogue. 

A Regional Approach to a Shared Future 

Senator Kaine emphasized the need for stronger collaboration across D.C., Maryland, and Virginia to better position the region as a unified economic force. He encouraged business leaders to identify actionable, cross-jurisdictional priorities that could be brought to the attention of Virginia’s congressional delegation, which meets monthly and has a strong track record of bipartisan alignment on economic development. 

Kaine also acknowledged the ongoing efforts of organizations like the Board of Trade and the Council of Governments to promote regional thinking, noting that “residents don’t see regionalism, but they live it.” His remark underscored the urgency of aligning across state lines to address shared challenges and opportunities. 

Innovation, Infrastructure, and the Shift from Federal Dependency 

The conversation addressed the region’s reliance on federal spending and the importance of accelerating the transition to a more innovation-driven economy. Participants highlighted the challenges facing midsize firms trying to scale, the need for accessible capital, and gaps in commercialization pathways for startups. 

Senator Kaine underscored the importance of infrastructure investment, including energy and transit, as foundational to future economic growth. He also pointed to the federal government’s role in helping states and localities better connect workers, including veterans, to emerging industries. 

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Retaining Talent in a Changing Economy 

A recurring theme was the imperative to attract and retain top talent. Senator Kaine noted that workforce retention is one of his top concerns and encouraged strategies that span early childhood education, advanced degree pathways, and credential transfer for military spouses and professionals. 

“There are a lot of talented people in this region,” Kaine said. “The question is whether we are giving them reasons—and the ability—to stay.” 

Leaders also discussed how unpredictable commuting patterns, housing affordability, and the mass layoff of federal workers are compounding talent challenges. Senator Kaine encouraged federal-regional alignment on solutions and noted that Greater Washington must continue building the case as a modern hub of innovation, not just governance. 

From Dialogue to Strategy 

The Board of Trade will continue to elevate regional voices and connect them with policymakers to drive tangible outcomes. As Senator Kaine noted, this moment presents both disruption and opportunity—and it will take collective action to shape what comes next. 

Across initiatives like the Potomac Conference, DMVMoves, and our work on innovation and workforce transformation, we are helping the region transition from federal dependency to a more diverse, digitally enabled economy. Our strategy is grounded in the belief that Greater Washington can lead—by aligning across jurisdictions, investing in modern infrastructure, and unlocking the full potential of our people. 

As federal priorities shift and technology accelerates change, we invite leaders across all sectors to engage with us. Together, we can build a stronger, more resilient Capital Region—one that defines the next era of American economic leadership. 

We extend our sincere thanks to Fox Rothschild LLP and their partner, Reggie Jones, for their continued support of the Board of Trade’s policy programming. Additionally, we’d like to thank our Virginia policy advisor, Hon. David Ramadan, Ed.D. of RAMA International Inc., for their instrumental support in coordinating this engagement with Senator Kaine and helping shape the discussion. 

On May 9 at our Downtown D.C. office, the Greater Washington Board of Trade convened a candid Executive Leadership Roundtable with Tom Barkin, President & CEO of the Federal Reserve Bank of Richmond. This session brought together senior executives from across the region for an exchange on national economic trends, regional business conditions, and the future of our workforce and markets.

Our members brought candor, insight, and urgency to the conversation, reflecting the realities of leading through disruption. While the economic data offers mixed signals, business leaders are navigating real-time volatility in pricing, hiring, trade policy, and consumer behavior. The conversation underscored that conventional playbooks no longer apply in the same ways, and leaders must adapt to a system defined by speed, decentralization, and growing complexity.

Several recurring themes emerged:

• Persistent labor shortages—not just in volume, but in skills alignment
• Rising operating costs and uncertainty around tariffs, housing, and energy
• The growing impact of AI and automation across internal operations
• A shared desire for better federal-local alignment in economic response
• The importance of timely, trusted data to supplement lagging indicators

The conversation reinforced a critical truth: Greater Washington cannot afford to plan for the economy of the past. Across sectors, leaders are grappling with systems and structures that were built for another era. What’s needed now is not only new solutions, but new ways of thinking.

The Board of Trade will continue to foster these executive-level dialogues, providing space for leaders to test assumptions, exchange strategies, and shape a more resilient, competitive region.

Mark your calendar: Our next Executive Leadership Roundtable with Tom Barkin will take place on October 17. Registration details will be shared soon—stay tuned.

​​Thank you to the Federal Reserve Bank of Richmond for sponsoring this vital discussion that engages our members and partners in the region.

The first 100 days of a presidential administration are typically seen as a critical window for shaping priorities and building momentum. But as we heard in our latest Agenda Watch session – hosted in partnership with K&L Gates – this administration isn’t waiting around. The pace is so rapid, you can barely compute the first 100 hours, let alone the first 100 days. 

Well over 100 executive orders have already been issued – marking a historic pace of presidential action. Senior officials were vetted and ready well before Inauguration Day. Federal agencies are moving quickly to execute an ambitious and sweeping plan to reshape the size, scope, and style of government. What may look chaotic on the surface is in fact a tightly coordinated and years-in-the-making strategy to act with speed and authority – especially in areas where congressional consensus is unlikely.

While much of the conversation centers on specific policy actions, what’s unfolding is part of a broader transformation—one that reflects a shift from the analog operating model of the past century to a digital-first, disruption-driven approach to governance. We’re witnessing the federal system being rewired for a new era: one defined by speed, decentralization, and real-time decision-making. The implications go far beyond politics—they challenge long-standing assumptions about how government functions, and how leaders outside of government must respond.

That’s why we launched Agenda Watch. This program is designed to help leaders in the Greater Washington business community stay ahead of these shifts—not just as observers, but as strategic actors. During our most recent session, we explored what these developments mean for the region and how leaders can adapt in an environment increasingly defined by volatility, speed, and structural change.

The Core Question: How do leaders navigate this moment of compressed change? 

Among the key takeaways from the briefing: 

• This is more than politics—it’s structural. While many moves reflect a long-standing conservative vision for shrinking government, they also represent a shift in how executive power is being exercised – faster, more centralized, and more willing to sidestep traditional federal processes. 

• Executive orders are setting tone and direction. Though not equivalent to permanent law, the early wave of executive actions is already reshaping policy implementation. They signal priorities, shift agency focus, and can lay the groundwork for future regulatory or legislative changes. Their volume and velocity are strategic. 

• Engagement doesn’t equal endorsement—but it matters. Business leaders must navigate unpredictability with discipline. Staying engaged across the political spectrum is essential for understanding how decisions are being made, where there’s room to align, and when to proactively offer alternatives. 

• National security—not just economic policy—is the driving lens. Decisions about AI, energy, workforce policy, and trade are increasingly shaped by geopolitical risk and the desire for U.S. self-reliance. That includes efforts to reduce dependence on China for critical materials, strengthen domestic manufacturing, and secure technological leadership. While these objectives are clear, their policy paths may feel contradictory or disjointed at times. 

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This goes beyond politics and policy—it’s about leadership in flux. 

For leaders across business, government, and the civic sector, the challenge isn’t just responding to change – it’s anticipating and absorbing it. The rules of engagement are evolving, but so are the expectations for how organizations show up, plan, and lead. 

As the session concluded, four guiding principles emerged to help frame decision-making in this climate: 

• Acknowledge volatility as a constant
  Volatility is not episodic anymore – it’s systemic. Economic, regulatory, and political disruptions are happening in shorter, faster cycles. 

• Balance long-term strategy with short-term agility
  You need both a long-term strategy and the flexibility to pivot. Resilience lies in the ability to move between the two without losing your direction. 

• Embrace calculated risk to stay competitive
  Managing risk is no longer about avoidance – it’s about understanding, adapting, and acting. Those who take thoughtful risks will be better positioned to lead through disruption. 

• Own your narrative—and ground it in shared outcomes
  Don’t let others define your organization’s values or voice. Ground your message in shared economic outcomes, practical problem-solving, and the ability to work across divides. 

The Board of Trade will continue to provide tools, insights, and convenings to support our members in this shifting landscape. Through Agenda Watch and other programming, we’re committed to elevating nonpartisan analysis, amplifying regional priorities, and helping our members lead through uncertainty with clarity and confidence. 

​​Thank you to K&L Gates for sponsoring this vital discussion that engages our members and partners in the Greater Washington region.