2023-12-14 00:39:00
ALEXANDRIA, Va. (WDBJ) – Gov. Glenn Youngkin delivered a major announcement in northern Virginia Wednesday morning, unveiling a plan to bring the Washington Wizards of the NBA and the Washington Capitals of the NHL to Alexandria.
The agreement with Monumental Sports and Entertainment would create a multi-billion-dollar entertainment district next door to the Virginia Tech Innovation Campus that’s now under construction.
“I am pleased to announce that right here in Alexandria’s Potomac Yard, we have a plan to unleash a brighter, more extraordinary future,” Youngkin told the audience.
The plan would bring the headquarters of Monumental Sports to Virginia. It would create what Youngkin described as a world-class entertainment district, and build a new arena for the Washington Wizards and Capitals.
The governor and Monumental Sports & Entertainment CEO Ted Leonsis said it also represents an extraordinary economic opportunity.
“Over the life of this project, 30.000 new jobs, and an estimated $12 billion of economic activity to be generated in the Commonwealth and in the city of Alexandria,” Youngkin said.
“We will still be a big, big part of the entire DMV,” Leonsis said. “That is our goal. That is our commitment: create jobs, pay taxes, hire people from Virginia Tech and George Mason. We want to leave much more than we take.”
Virginia Tech spokesperson Mark Owczarski said the university is excited to welcome its new neighbor in northern Virginia, and is open to the possibilities their proximity might bring.
“Today I think was the first day of a new opportunity, new partnerships where we can explore together how what Virginia Tech brings to the table and what others in the community in the greater Commonwealth bring to the table can begin to solve the needs, the challenges of workforce, or the economy of Virginia.”
The plan calls for the creation of a Virginia Sports and Entertainment Authority that would issue bonds for the project.
Monumental would invest more than $400 million.
The project will require legislation and the approval of state lawmakers.
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