Agee and Fralin: Proposed Alexandria arena would be economic benefit for
Southwest Virginia




ICYMI: Nancy Howell Agee and Heywood Fralin, two prominent leaders in the
Roanoke Valley, penned anop-ed today
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for Cardinal News touting the benefits for Southwest Virginia of Governor
Youngkin’s plan to bring Monumental Sports and Entertainment, tens of thousands
of jobs, and billions of dollars in economic impact to Virginia.



In the op-ed, Agee and Fralin write that “while the proposed location for the
new arena is hundreds of miles away, the impact of this once-in-a-lifetime
opportunity will be felt right here in our region.”



Excerpts of the op-ed are included below.




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Proposed Alexandria arena would be economic benefit for Southwest Virginia
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By Nancy Howell Agee and Heywood Fralin



February 6, 2024




Southwest Virginia will benefit greatly from the unique deal Gov. Glenn
Youngkin struck with Monumental Sports and Entertainment to bring the
Washington Capitals and Wizards to Northern Virginia.



...



As the old saying goes, “a rising tide lifts all boats.” And the monumental
tidal shift Gov. Youngkin started on the banks of the Potomac will undoubtedly
make positive waves downstate.



...



Why should we care about revenue generated from a project far away from us?
Because we all do better when Virginia’s economy is strong, and opportunities
such as this to strengthen our entire economy in such a substantial way are
rare. Put simply, the revenue generated upstate will flow downstate and provide
critical resources for projects in our community.



...



Moreover, with additional money pouring into Alexandria for education — $31
million in the first phase of the project — the commonwealth will have the
budget flexibility and additional revenue to allocate education funding
elsewhere, like Southwest schools desperately in need of it.



As Dwayne Yancey noted here recently, “if we want more state funding for those
schools (and we do), then at some point we have to hope for more state
revenues.” In this case, we do not have to hope for more state revenues. That
revenue — worth billions of dollars — is right there for our taking in this
deal.



...



The project at Potomac Yard will also serve as a catalyst for another critical
endeavor right next door: Virginia Tech’s Innovation Campus, set to open in
2025.



...



Virginia Tech is a vital part of our community. The vibrancy the new arena
will bring to Tech’s innovation campus will only increase the excitement for
students in Blacksburg to advance their education in Alexandria.



...



There is no upfront cost for Virginia taxpayers. None, whatsoever. The
general fund will not be used to pay for the project, and all resources will
come solely from site-specific revenue generated at the new district.



...



Additionally, it will create serious revenue that will flow downstate while
invigorating a campus where our local students will learn.



The Washington Capitals and Wizards may be coming to Alexandria, but the
benefits of this opportunity will flow throughout Virginia and stimulate our
entire economy. That includes Southwest Virginia, and we should rally the
support of our community behind this monumental opportunity for our great
commonwealth.




Paid for by Spirit of Virginia



Spirit of Virginia, PO Box 3950, Merrifield, VA 22116



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