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Virginia’s fundamentals remain strong after unsuccessful arena competition
As Virginia celebrates Economic Development Week, there is no better time to recognize that when it comes to success in economic development, fundamentals matter most. Incentives, public sector support, personal connections and various intangibles — like, say, letting a CEO pick his favorite Grateful Dead concert to play during a recruitment dinner — can undoubtedly […]
Washington Wizards, Capitals reach deal to stay in D.C.
The Washington Wizards and Capitals NBA and NHL teams are staying put in the District of Columbia and will not be moving to Alexandria, according to announcements from Washington, D.C., and Virginia officials Wednesday. These events put the final nail in the coffin of a controversial $2 billion Alexandria arena proposal touted by Virginia Gov. […]
GMU report: Arena project would produce 5,400+ affordable housing units
Updated Feb. 22, 2024 A study conducted by George Mason University’s Center for Regional Analysis found that the proposed $2 billion Alexandria sports arena and entertainment district supported by Gov. Glenn Youngkin would create more than 5,400 workforce-affordable housing units, far exceeding the city’s goals. The report released this week was requested by JBG Smith […]
Alexandria arena proposal economic impact report released
An economic and fiscal impact analysis released Friday by the Alexandria Economic Development Partnership forecasts that the proposed Washington Capitals and Wizards arena in Alexandria could generate up to $7.96 billion in annual economic output for the state. Additionally, the report says the arena could be completed as soon as 2028 if its construction schedule […]
Wizards, Capitals plan Alexandria move in $2B deal
The Washington Capitals and Washington Wizards are planning a move to a new home in Alexandria in a $2 billion deal that would see the professional sports franchises exit Washington, D.C., by 2028, Virginia Gov. Glenn Youngkin announced Dec. 13, 2023. The nonbinding agreement to build a new arena for the Capitals and Wizards is […]
