Why Alexandria’s new entertainment district is everyone’s business

As lawmakers negotiate the future of a $2 billion deal to build a new entertainment district in Alexandria, leaders across public and private sectors in the D.C.-Maryland-Virginia region are weighing the potential benefits. Without discounting concerns of local residents, I would like to present how this entertainment district will help Northern Virginia’s future growth and economic security and deliver benefits for the entire commonwealth.

To say that a new Potomac Yard Entertainment District is a “big deal” is a gross understatement. While some Northern Virginia residents and officials have chosen to focus more on discrete aspects of the project — from the fate of a Target store to transportation needs — we should instead look at it from its big picture advantages.

First, consider the sheer scale of our economy’s trajectory: Northern Virginia’s annual GDP now rivals that of entire countries like Finland, Portugal and New Zealand. At the heart of that success lies a dynamic business environment that is as diverse as our communities. It’s why many of the world’s leading corporations have made our region their home. They see its advantages today and have claimed its future potential on behalf of their businesses and employees.

If we view the proposed entertainment district in the same light as other recent initiatives such as Amazon’s HQ2 and Virginia Tech’s Innovation Campus, it’s clear that we aren’t just talking about a building or graduate school or a sports arena. These major projects play an important role of generating and driving investments in shared benefits: improved infrastructure, an increase in regional quality education, and expansion of significant job opportunities. As the leader of Greater Washington’s largest chamber of commerce, I welcome the continued growth that this proposed public-private partnership will bring to all who work and live in Greater Washington.

An important contribution beyond the proposed entertainment district’s new retail and restaurant spaces is the tremendous tax revenue generated by the project. This revenue will fund critical transportation, housing and education improvements. While some of us may not choose to attend Capitals or Wizards games, it’s important to note that we will all reap the benefits of this new district.

Yes, the sports and entertainment are exciting, but the real value to the region and its citizens is securing these fundamental and needed investments. This project is not a one-and-done. It’s an ongoing opportunity to create greater growth on a scale that creates greater opportunity over time for every resident and business within our region.

Furthermore, if you, like me, care about the future of our workforce and economic prosperity in our region, I encourage you to explore the deal’s finer points. You may be pleasantly surprised at how these details reveal the proposed project’s many advantages. However, I understand that like any successful enterprise, this project will require thoughtful input and productive debate from all stakeholders — especially local residents — at every stage.

Beyond the glitz and excitement of the sports arena, the proposed entertainment district will be a boon to Northern Virginia, its residents and all of the commonwealth. I urge you to examine the bigger impact of this project. These details are everyone’s business, and we all stand to gain from the broad benefits and opportunities this monumental development will deliver.

Julie Coons has served as president and CEO of the Northern Virginia Chamber of Commerce since 2018. She previously served as chief operating officer of the Council of Better Business Bureaus and is an active member of numerous boards and organizations including Junior Achievement of Greater Washington, The Economic Club of Washington, D.C., the U.S. Chamber of Commerce’s Association Committee of 100, and the Association of Chamber of Commerce Executives.