Mayor Bowser Celebrates FiscalNote Public Listing on NYSE
FiscalNote One of Seven DC-Area Companies to Achieve Unicorn Status in 2021; Company’s Growth Was Supported by District Government
Washington, DC – Mayor Muriel Bowser celebrated DC-based FiscalNote becoming a publicly traded company on the New York Stock Exchange (NYSE). FiscalNote is a legal data and analytics company that collects and analyzes vast amounts of publicly available government information to enable better navigation of uncertainty, opportunity, and risk in an increasingly complex geopolitical world.
“We have been incredibly proud to witness and support FiscalNote’s growth as they have proven what is possible for tech in DC,” said Mayor Bowser. “As DC continues our comeback, we’re going to continue to attract and invest in companies like FiscalNote – companies that care about DC, that train DC residents for good-paying jobs, and that want to keep DC’s tech scene inclusive and a force for doing good.”
CEO Tim Hwang, along with childhood friends Gerald Yao and Jonathan Chen, founded FiscalNote in 2013 with a mission to “connect the world to their governments.” With that goal in mind, they created one of the largest technology companies headquartered in Washington, DC, with operations in eight countries, approximately 800 employees globally, and more than 3,000 global subscription customers, including nearly half the Fortune 100 and hundreds of government contractors.
“The Mayor’s office has been a tremendous partner for us as we’ve grown within the DC tech ecosystem,” said Hwang. “There has been no better place for us to build our business than Washington, DC.”
In 2017, the District provided FiscalNote a grant of $750,000 to use toward a security deposit on its Pennsylvania Avenue location in the heart of DC. The investment supported the company’s growth in DC and included a community benefits agreement that provided employment training for DC residents.
DC was recently named #4 in the nation for tech talent by CBRE, partly due to the number of home-grown companies like FiscalNote that are the fabric of the District’s tech community. FiscalNote was one of seven DC-area companies to achieve unicorn status in 2021, with a valuation of over $1 billion.
“As part of our economic diversification and now DC’s comeback, Mayor Bowser is proud to invest in tech companies like FiscalNote as they grow from a tiny start-up into a multinational enterprise,” said Deputy Mayor for Planning and Economic John Falcicchio. “Tim and the team have been tremendous ambassadors of the DC tech community, a perfect example of the type of organization that can start local, grow, and flourish globally from the DC tech ecosystem where tech for good happens.”
In 2022, Mayor Bowser and the Office of the Deputy Mayor for Planning and Economic Development created the Vitality Fund to assist businesses with relocating, expanding, or staying in Washington, DC by providing financial support for down payment assistance, tenant improvements, workforce training, recruitment, and other operating expenses. The Administration also invested $5 million to support the development of two innovation districts, which are areas where existing economies and infrastructure are leveraged to spur new ideas for growth, development, and inclusive prosperity.