Welcome to CapBiz A.M., your morning primer on business news with a focus on Washington.

On the rise: Fundrise has grown into perhaps the country’s leading real estate crowd-funding platform – and it isn’t slowing down. The local company has just raised $31 million in financing from tech and real estate investors, led by several developers in New York and one social networking company in China. Question is, will the company stay put in Washington? (CAPBIZ)

Funding fight: The D.C. Council on Wednesday voted in favor of the largest set of tax cuts for city residents in 15 years. The mayor isn’t happy about that plan (not one bit). And here’s what one council member says the city should be putting money toward. (WP/CAPBIZ)

Data capture: Software AG, a Frankfurt-based firm whose North American headquarters is in Reston, has released a new product intended to capture and analyze an expected surge in data created by what’s been coined the Internet of Things. (CAPBIZ)

Scaling up: Arlington-based cloud security provider Distil Networks, which specializes in battling automated cyber “bots,” has raised $10 million in venture funding – money that will help the company expand as it looks to double its headcount in the next seven months (WP)

Moving over: Victor Hoskins is leaving as a top economic development official for Mayor Vincent C. Gray to take a similar post in Prince George’s County. Hoskins played a key role in helping Gray manage Wal-Mart’s entry into the District. (CAPBIZ)

Stuck in neutral: The Washington area jobless rate held steady at 4.8 percent in April, even as federal budget cuts have pushed the federal government and local contractors to keep trimming jobs. (CAPBIZ)

Stuck in neutral II: Many small business owners have no plans to add to their payrolls, according to several recent surveys. So what will it take to turn the tide? The answer differs from one business to another. (AP)

Beats bought: It’s official. Apple announced Wednesday that it will buy headphone and music streaming company Beats Electronics for $3 billion. Here’s what the deal tells us about the business of hip-hop. (WP)

Go for takeoff: The Boeing 787 Dreamliner got some (long-awaited) good news Wednesday, as federal regulators gave the company the green light for longer flights over water. That opens up lots of new routes. (BB)

Deal sweetened: Canada’s Valeant Pharmaceuticals International Inc. raised the cash component of its unsolicited offer for Botox maker Allergan Inc. on Wednesday. But will it be enough to close the deal? (CT)

Beckoning businesses: The Obama administration has named 12 regions of the country (most of them in the Midwest) that will receive special attention under a new federal program designed to help make them more attractive to manufacturing companies. (AP)

On Wall Street

Stocks slipped lower for the first time in five days on Wednesday. Investors will be keeping a close watch on a flood of economic updates due Thursday. (Get the latest updates here)

What’s on tap today

GDP report (8:30 a.m.)

Unemployment claims (8:30 a.m.)

Corporate profits report (8:30 a.m.)

Pending home sales (10:00 a.m.)

Loudoun County Chamber of Commerce hosts Scott York, chairman of the Loudoun County Board of Supervisors (8:00 a.m.)

DuPont Business Link business growth session (11:30 a.m.)

Help: How to tackle the unsexy business of inventory management (ENT)

Follow: Benjamin Miller, one of the founders of Fundrise

Extra: Despite all the effort to thwart them, Internet hackers are winning. (WP)