Washington, DC Poised To Become More Awesome for Businesses Starting With LivingSocial

Earlier this week, the DC Council implemented another Business incentive that was recommended to DC mayor by the local entrepreneurs including myself. The Council unanimously passed  the Social E-Commerce Job Creation Tax Incentive Act of 2012 bill that provides LivingSocial, the social daily deals company with future tax breaks that could total $32.5 million over a 10-year period. 

This means Washington, DC based LivingSocial will stay in DC.  The bill requires the company to stay in the District and hire local employees to receive the full amount of the tax breaks. The bill that reduces LivingSocial’s tax costs for remaining in the District, will most likely encourages more businesses including startups to setup their headquarters in Washington, DC.

Feel free to connect with me via awesomize.me

About Elias Shams
I have been a serial entrepreneur in telecom and social media space for past 12 years or so. I hold a M.S. degree in Telecommunication Engineering from the George Washington University and a B.S. degree in Electrical Engineering from the University of Maryland. I’ve lived and worked in many countries and cities including London England, Tehran Iran, Bonn Germany, Paris France, Alicante Spain, Delhi India, and my favorite of all Washington, DC of great US of A. Two of the greatest Washington, DC based companies I worked for and very proud of are Yurie Systems which was sold to Lucent in 1998 for $1.23 B and telezoo.com that I founded in 1999. I am currently the founder and awesomizer @ awesomize.me

One Response to Washington, DC Poised To Become More Awesome for Businesses Starting With LivingSocial

  1. cityalice says:

    Interesting news. Washington DC could become the top choice for tech companies.

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