WATCH: Governor @GlennYoungkin on bringing the NHL’s Capitals and the NBA’s Wizards to Alexandria, Virginia:
“This is a big day for the Commonwealth of Virginia — I might say it’s even monumental.” pic.twitter.com/sxBgWPoQ7Y
— Team Youngkin – Spirit of Virginia (@TeamYoungkin) December 13, 2023
ICYMI: Governor Glenn Youngkin continues to make Virginia the best place to live, work, raise a family, and, soon, watch professional hockey and basketball.
Joining Squawk Box this morning, Youngkin announced the Commonwealth will be the new home for the Washington Capitals and Wizards in a major economic development project that will bring jobs, business, and a state-of-the-art sports complex to Northern Virginia.
“It’s an exciting day in Virginia. We just announced that we will be developing, in partnership with Monumental Sports and the City of Alexandria, the most state-of-the-art sports and entertainment district in America,” Youngkin said. “This will be home to two great sports franchises. This is a big day for the Commonwealth of Virginia. I might say it’s even monumental.”
In a speech this morning, Youngkin outlined the economic benefits of this project for Virginians and the continuation of economic prosperity that the Commonwealth has experienced under Youngkin’s leadership.
Governor @GlennYoungkin on the tax benefits of bringing the Capitals & Wizards to Virginia:
“No upfront investment, harnessing the financial horsepower of the future incremental taxes & other revenues with an estimated twelve billion dollars of economic contribution to VA….” pic.twitter.com/uWvpZUaN85
— Team Youngkin – Spirit of Virginia (@TeamYoungkin) December 13, 2023
“I pledged that any projects like this would first and foremost be good for the Virginia taxpayer. And that’s exactly what this project represents. No upfront investment,” Youngkin said. “Harnessing the financial horsepower of the future, incremental taxes and other revenues, with an estimated $12 billion of economic contribution to Virginia and the City of Alexandria over the coming decades.”
Governor @GlennYoungkin: “Companies are coming, businesses are coming, and with the opening of this new sports and entertainment district, we will christen the next chapter of groundbreaking innovation in the Commonwealth.” pic.twitter.com/yWKZE0ITCX
— Team Youngkin – Spirit of Virginia (@TeamYoungkin) December 13, 2023
“It’s crystal-clear Virginia is leading on innovation already. We have extraordinary infrastructure. We have business-ready sites. We have world-class education. We have a vibrant workforce. And our commitment to multimodal transportation, including the recently completed Potomac Yard Metro Station, set the stage for this transformational opportunity,” Youngkin said. “We have more people working in the Commonwealth of Virginia than ever in the history of the Commonwealth. Companies are coming. Businesses are coming. And with the opening of this new sports and entertainment district, we will christen the next chapter of groundbreaking innovation in the Commonwealth.”
IN CASE YOU MISSED IT
Gov. Glenn Youngkin finally landed the big fish he’s been seeking since becoming Virginia governor two years ago – and it’s a whopper.
Youngkin came to a brand new portion of this historic port city on Wednesday to announce what already was an open secret – a proposed $2 billion economic development that would bring not just the first major league sports franchise to Virginia in nearly 50 years, but two of them. He was joined by Ted Leonsis, owner of both franchises and CEO of Monumental Sports & Entertainment, based across the Potomac River in Washington, D.C., but possibly not for long.
AP: Wizards, Capitals would move to Virginia in tentative deal, Youngkin says.
Virginia Gov. Glenn Youngkin has reached a tentative agreement with the parent company of the NBA’s Washington Wizards and NHL’s Washington Capitals to move those teams from the District of Columbia to what he called a new “visionary sports and entertainment venue” in northern Virginia.
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“The Commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs – this is monumental,” Youngkin said in a statement.
WASHINGTON POST: Monumental, Youngkin announces deal to move Caps, Wizards to Virginia
Ted Leonsis, owner of Monumental Sports & Entertainment, and Virginia Gov. Glenn Youngkin (R) appeared together Wednesday at an event in Alexandria’s Potomac Yard neighborhood where the terms of the framework were detailed.
“Virginia will not only be the best place to watch hockey — to watch basketball, but it will be the best place to innovate and press the envelope in what we can do together,” Youngkin said.
WASHINGTON EXAMINER: Glenn Youngkin announces sports arena project in Alexandria, Virginia
Gov. Glenn Youngkin (R-VA) and Monumental Sports are announcing a $2 billion sports arena and entertainment district set to be built in the Potomac Yard neighborhood of Alexandria, Virginia.
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“This is the most visionary sports and entertainment development in the world, bringing together entertainment, sports, and technology in the most advanced innovation corridor in the United States: a once-in-a-generation and historic development for the Commonwealth, sports fans, and all Virginians. The Commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs — this is monumental,” Youngkin said in a statement.