Cherry picking businesses from nearby jurisdictions as economic development
The Washington Post reports, in "Trying to Head Off Leaner Times," subtitled "Arlington Focuses on Business Development; Alexandria Works on Boosting Tourism," from the Alexandria-Arlington Extra about economic development activity in the nearby Virginia suburbs. From the article:
Arlington is making headway in economic development. BNA, a publishing company, recently moved to Crystal City from the District, bringing 1,000 employees. The company joins defense firm DeticaDFI, which recently left the District to move to the Ballston area. The firm employs 250 people.
Within a few months, the Corporate Executive Board, which provides human resource research and executive training to employers, is expected to move to Arlington from the District. It will be the largest private-sector employer in the county, employing about 2,500.
"Some deals are coming together now that we worked on for as long as three years," said Terry Holzheimer, director of Arlington Economic Development. "We've been pretty successful."
This doesn't sit well with me. BNA decamped for Arlington as soon as a property tax exemption expired. Too bad DC didn't have recapture provisions in the agreement, dependent on their staying in the city after the exemption expired...
I heard the planning director of Arlington County speak about 6 years ago, and I went up afterwards and suggested he retitle his presentation "How to Kill DC."
Labels: economic development
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