202.5

The Advisory Board Co. stood to benefit from up to $60 million in tax breaks. Now it might not get any.

The D.C. Council is considering eliminating a package of tax breaks worth up to $60 million it approved in 2015 for The Advisory Board Co. and offering just a third of that to a related business spun off from the company last year.

The council’s Finance and Revenue Committee held a hearing Nov. 14 on the proposed legislation, which would make the EAB Global educational spinoff eligible for up to $21 million in property tax abatements over a 10-year period, conditioned on the company meeting performance-based measures.

Among those conditions, EAB would be required to create at 350 new jobs, reduced from the 1,000 jobs the Advisory Board promised in exchange for its tax abatement package. Council Chairman Phil Mendelson and Councilman Jack Evans, who chairs the finance and revenue committee, jointly introduced the legislation in July.

It is unclear whether the Advisory Board, acquired by Eden Prairie, Minnesota-based Optum last year, plans to create any new jobs or intends to seek tax…

Read the full story from the Washington Business Journal.



Advertiser Content