Councilmember McDuffie understands that small, local businesses are more than just businesses – they are living, breathing, contributing members of every society.
As Chairman of the Committee on Business and Economic Development, he has spent the last 5 years helping to grow and achieve greater equity within the District’s small and local businesses community and address disparities in the racial wealth gap. Through a series of legislative and budget wins, he has eliminated barriers to entrepreneurship for women, minority, and lower-income business owners; helped revitalize and expand commercial corridors in local communities; saw the creation of numerous jobs; and helped our economy bounce back from a debilitating pandemic. Councilmember McDuffie’s legacy has proven that supporting small and local businesses is not only good for communities, but essential.
- Directing millions of dollars to the Commercial Acquisition Fund, which provides grant assistance to socially disadvantaged business owners purchasing commercial property in the District.
- Closed a loophole that previously allowed large, out-of-state firms to certify and reap benefits designated for certified local business enterprises.
- Securing grant funding for community development financial institutions and minority deposit institutions that provide entrepreneurs of color with much-needed access to capital.
- Helping establish The Bridge Fund, a $100 million investment to support businesses and workers impacted by the COVID-19 pandemic across hospitality, entertainment, and retail sectors.